Berkshire Money Management Inc. Acquires Shares of 1,102 General Dynamics Co. (NYSE:GD)

Berkshire Money Management Inc. bought a new stake in General Dynamics Co. (NYSE:GD) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,102 shares of the aerospace company’s stock, valued at approximately $290,000.

Several other hedge funds and other institutional investors also recently modified their holdings of GD. MFA Wealth Advisors LLC increased its holdings in shares of General Dynamics by 241.7% during the third 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. Financial Life Planners acquired a new position in General Dynamics in the 4th quarter worth about $25,000. Hara Capital LLC bought a new position in General Dynamics in the third quarter valued at about $26,000. Sugar Maple Asset Management LLC acquired a new stake in shares of General Dynamics during the fourth quarter valued at about $28,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of General Dynamics during the fourth quarter worth about $28,000. Institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other news, Director Laura J. Schumacher sold 1,796 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the sale, the director now owns 11,175 shares in the company, valued at $2,857,224. This trade represents a 13.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Christopher J. Brady sold 5,540 shares of the company’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 in the company, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. TD Cowen dropped their price target on shares of General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. The Goldman Sachs Group lowered their target price on General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft reduced their price target on General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Baird R W downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Vertical Research cut General Dynamics from a “buy” rating to a “hold” rating and reduced their target price for the company from $352.00 to $290.00 in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, General Dynamics currently has a consensus rating of “Hold” and an average target price of $300.06.

General Dynamics Trading Up 0.4 %

NYSE GD opened at $257.64 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $266.56 and a 200 day simple moving average of $286.50. General Dynamics Co. has a 12 month low of $247.01 and a 12 month high of $316.90. The firm has a market capitalization of $70.84 billion, a P/E ratio of 18.89, a PEG ratio of 1.46 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. On average, analysts predict that General Dynamics Co. will post 14.88 EPS for the current fiscal year.

General Dynamics announced that its board has initiated a stock repurchase plan on Wednesday, December 4th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the aerospace company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s dividend payout ratio is presently 41.64%.

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.