Drive Wealth Management LLC Reduces Holdings in General Dynamics Co. (NYSE:GD)

Drive Wealth Management LLC trimmed its holdings in shares of General Dynamics Co. (NYSE:GD) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,501 shares of the aerospace company’s stock after selling 49 shares during the period. Drive Wealth Management LLC’s holdings in General Dynamics were worth $396,000 as of its most recent SEC filing.

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

General Dynamics Trading Up 1.2 %

NYSE GD opened at $269.64 on Tuesday. General Dynamics Co. has a one year low of $257.26 and a one year high of $316.90. The company has a 50-day simple moving average of $269.27 and a 200-day simple moving average of $287.74. 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 capitalization of $74.14 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.43 and a beta of 0.61.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s payout ratio is 43.26%.

General Dynamics declared that its board has initiated a stock repurchase plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GD shares. Royal Bank of Canada lowered shares of General Dynamics from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $330.00 to $290.00 in a report on Thursday, December 19th. Wolfe Research lowered shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a report on Wednesday, December 11th. Wells Fargo & Company decreased their price target on shares of General Dynamics from $295.00 to $279.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Sanford C. Bernstein decreased their price target 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. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $283.00 price target (down previously from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, General Dynamics has a consensus rating of “Hold” and a consensus price target of $304.88.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction dated 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 transaction, the vice president now directly 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 document filed with the SEC, which is available at this hyperlink. 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.