Blue Trust Inc. Has $1.06 Million Position in General Dynamics Co. (NYSE:GD)

Blue Trust Inc. increased its position in General Dynamics Co. (NYSE:GD) by 63.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,009 shares of the aerospace company’s stock after buying an additional 1,559 shares during the period. Blue Trust Inc.’s holdings in General Dynamics were worth $1,056,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC grew its holdings in General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 58 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of General Dynamics in the third quarter worth $26,000. Sugar Maple Asset Management LLC acquired a new stake in shares of General Dynamics in the fourth quarter worth $28,000. Lowe Wealth Advisors LLC acquired a new stake in shares of General Dynamics in the third quarter worth $30,000. Finally, True Wealth Design LLC acquired a new stake in shares of General Dynamics in the third quarter worth $34,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Performance

General Dynamics stock opened at $262.33 on Wednesday. The stock has a 50-day simple moving average of $268.94 and a 200 day simple moving average of $287.64. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. General Dynamics Co. has a 12-month low of $257.26 and a 12-month high of $316.90. The stock has a market capitalization of $72.13 billion, a price-to-earnings ratio of 19.98, a P/E/G ratio of 1.43 and a beta of 0.61.

General Dynamics Dividend Announcement

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

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GD shares. TD Cowen lowered their price objective on shares of General Dynamics from $315.00 to $295.00 in a research note on Tuesday. Baird R W cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Wells Fargo & Company reduced their target price on General Dynamics from $295.00 to $279.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $300.00 target price (down from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Finally, Barclays reduced their target price on General Dynamics from $330.00 to $305.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $303.28.

Insider Activity at General Dynamics

In related 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 completion of the sale, the vice president now directly owns 20,296 shares in the company, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.52% of the stock is currently owned by company insiders.

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.