SeaCrest Wealth Management LLC Has $1.62 Million Stake in General Dynamics Co. (NYSE:GD)

SeaCrest Wealth Management LLC lowered its holdings in General Dynamics Co. (NYSE:GD) by 2.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,153 shares of the aerospace company’s stock after selling 185 shares during the period. SeaCrest Wealth Management LLC’s holdings in General Dynamics were worth $1,621,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. MFA Wealth Advisors LLC lifted its position in General Dynamics by 241.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after buying an additional 58 shares in the last quarter. Hara Capital LLC bought a new position in shares of General Dynamics in the third quarter worth about $26,000. Lowe Wealth Advisors LLC acquired a new position in shares of General Dynamics during the third quarter worth approximately $30,000. True Wealth Design LLC bought a new stake in shares of General Dynamics during the third quarter valued at approximately $34,000. Finally, Coston McIsaac & Partners increased its holdings in shares of General Dynamics by 22.8% in the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GD shares. Wolfe Research downgraded General Dynamics from an “outperform” rating to a “peer perform” rating in a report on Wednesday, December 11th. Robert W. Baird reaffirmed a “neutral” rating and set a $283.00 price target (down previously from $345.00) on shares of General Dynamics in a research note on Tuesday. Jefferies Financial Group reiterated a “hold” rating and issued a $300.00 price target (down previously from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Sanford C. Bernstein dropped their price objective on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Finally, Wells Fargo & Company reduced their target price on shares of General Dynamics from $295.00 to $279.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, General Dynamics currently has an average rating of “Hold” and an average price target of $304.53.

General Dynamics Price Performance

GD opened at $264.92 on Wednesday. The stock has a market cap of $72.84 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.62 and a beta of 0.61. General Dynamics Co. has a 12 month low of $247.36 and a 12 month high of $316.90. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The company has a fifty day simple moving average of $275.30 and a 200 day simple moving average of $288.61.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The business had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter last year, the company earned $3.04 earnings per share. The firm’s revenue was up 10.4% compared to the same quarter last year. On average, research analysts expect that General Dynamics Co. will post 13.84 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Friday, January 17th. General Dynamics’s payout ratio is currently 43.26%.

General Dynamics announced that its board has approved a stock buyback plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the aerospace company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the sale, the vice president now owns 20,296 shares of the company’s stock, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.52% of the company’s stock.

General Dynamics Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.