Nilsine Partners LLC Buys 735 Shares of General Dynamics Co. (NYSE:GD)

Nilsine Partners LLC grew its stake in General Dynamics Co. (NYSE:GD) by 27.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,419 shares of the aerospace company’s stock after purchasing an additional 735 shares during the quarter. Nilsine Partners LLC’s holdings in General Dynamics were worth $901,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Fifth Third Wealth Advisors LLC boosted its holdings in General Dynamics by 67.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock worth $2,583,000 after acquiring an additional 3,448 shares during the last quarter. Olstein Capital Management L.P. boosted its holdings in General Dynamics by 36.4% during the third quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock worth $4,533,000 after purchasing an additional 4,000 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in General Dynamics by 10.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock worth $11,204,000 after purchasing an additional 3,363 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of General Dynamics by 69.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company’s stock worth $69,032,000 after buying an additional 107,095 shares in the last quarter. Finally, Lummis Asset Management LP boosted its stake in shares of General Dynamics by 32.6% in the 3rd quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock worth $3,133,000 after buying an additional 2,551 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Down 2.8 %

Shares of NYSE:GD opened at $262.33 on Wednesday. The firm has a fifty day moving average price of $268.94 and a two-hundred day moving average price of $287.64. The company has a market cap of $72.13 billion, a price-to-earnings ratio of 19.98, 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. General Dynamics Co. has a one year low of $257.26 and a one year high of $316.90.

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

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 2.17%. The ex-dividend date is Friday, January 17th. General Dynamics’s payout ratio is 43.26%.

Insiders Place Their Bets

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the transaction, the vice president now owns 20,296 shares of the company’s stock, valued at $5,701,349.36. The trade was a 21.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. TD Cowen dropped their price target on General Dynamics from $315.00 to $295.00 in a report on Tuesday. Baird R W cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Seaport Res Ptn lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Barclays decreased their price objective on shares of General Dynamics from $330.00 to $305.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, Wells Fargo & Company dropped 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 assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, General Dynamics presently has an average rating of “Hold” and an average price target of $303.28.

About General Dynamics

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.