Nabity Jensen Investment Management Inc Purchases 113 Shares of General Dynamics Co. (NYSE:GD)

Nabity Jensen Investment Management Inc boosted its position in General Dynamics Co. (NYSE:GD) by 7.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,544 shares of the aerospace company’s stock after acquiring an additional 113 shares during the period. Nabity Jensen Investment Management Inc’s holdings in General Dynamics were worth $407,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Coston McIsaac & Partners increased its position in General Dynamics by 22.8% during the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after purchasing an additional 33 shares during the period. Global X Japan Co. Ltd. boosted its stake in shares of General Dynamics by 2.3% during the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock valued at $448,000 after purchasing an additional 33 shares in the last quarter. Grove Bank & Trust increased its position in shares of 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 buying an additional 34 shares during the period. Trueblood Wealth Management LLC raised 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 worth $672,000 after buying an additional 34 shares in the last quarter. Finally, Rathbones Group PLC lifted its holdings in General Dynamics by 1.8% in the second quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock worth $587,000 after buying an additional 35 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Jefferies Financial Group reissued a “hold” rating and issued a $300.00 target price (down previously from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Robert W. Baird reissued a “neutral” rating and set a $283.00 price objective (down previously from $345.00) on shares of General Dynamics in a research report on Tuesday. The Goldman Sachs Group downgraded shares of General Dynamics from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $283.00 to $245.00 in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Finally, Sanford C. Bernstein cut their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $304.53.

Insider Transactions at General Dynamics

In related 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 transaction 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 approximately $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.52% of the company’s stock.

General Dynamics Price Performance

Shares of NYSE:GD opened at $264.92 on Wednesday. General Dynamics Co. has a fifty-two week low of $247.36 and a fifty-two week high of $316.90. The business has a 50-day simple moving average of $275.30 and a two-hundred day simple moving average of $288.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. The firm has a market cap of $72.84 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

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

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders 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 annualized dividend and a dividend yield of 2.14%. General Dynamics’s payout ratio is 43.26%.

General Dynamics announced that its board has approved a share repurchase program 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 programs are often an indication that the company’s management believes its shares are undervalued.

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.