General Dynamics Co. (NYSE:GD) Shares Bought by Apexium Financial LP

Apexium Financial LP lifted its stake in shares of General Dynamics Co. (NYSE:GD) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,200 shares of the aerospace company’s stock after purchasing an additional 55 shares during the period. Apexium Financial LP’s holdings in General Dynamics were worth $843,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Coston McIsaac & Partners lifted its position in General Dynamics by 22.8% in the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after buying an additional 33 shares in the last quarter. Global X Japan Co. Ltd. raised its holdings in shares of General Dynamics by 2.3% during the third quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock worth $448,000 after acquiring an additional 33 shares in the last quarter. Grove Bank & Trust boosted its position in General Dynamics by 10.6% during the third quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock valued at $107,000 after purchasing an additional 34 shares during the last quarter. Trueblood Wealth Management LLC grew its stake in General Dynamics by 1.6% in the third quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock valued at $672,000 after purchasing an additional 34 shares in the last quarter. Finally, Jeppson Wealth Management LLC raised its stake in shares of General Dynamics by 3.8% during the 3rd quarter. Jeppson Wealth Management LLC now owns 955 shares of the aerospace company’s stock worth $289,000 after purchasing an additional 35 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of NYSE GD opened at $266.22 on Monday. General Dynamics Co. has a fifty-two week low of $257.26 and a fifty-two week high of $316.90. The stock has a market capitalization of $73.20 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 1.43 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The business has a 50-day moving average of $269.27 and a 200-day moving average of $287.70.

General Dynamics declared that its Board of Directors has approved a stock repurchase plan on Wednesday, December 4th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a dividend of $1.42 per share. The ex-dividend date is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a yield of 2.13%. General Dynamics’s payout ratio is 43.26%.

Insider Buying and Selling at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction 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 represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.52% of the company’s stock.

Analyst Upgrades and Downgrades

GD has been the topic of several analyst reports. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Sanford C. Bernstein decreased their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Vertical Research lowered General Dynamics from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $352.00 to $290.00 in a research note on Monday, January 6th. Wells Fargo & Company lowered their target price on General Dynamics from $295.00 to $279.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, General Dynamics has a consensus rating of “Hold” and an average target price of $304.88.

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.