Midland Wealth Advisors LLC Has $659,000 Stake in General Dynamics Co. (NYSE:GD)

Midland Wealth Advisors LLC lowered its holdings in General Dynamics Co. (NYSE:GD) by 14.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,500 shares of the aerospace company’s stock after selling 433 shares during the quarter. Midland Wealth Advisors LLC’s holdings in General Dynamics were worth $659,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Empowered Funds LLC grew its holdings in shares of General Dynamics by 15.3% during the fourth quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock valued at $2,553,000 after buying an additional 1,283 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its position in General Dynamics by 67.6% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock valued at $2,583,000 after acquiring an additional 3,448 shares in the last quarter. Kentucky Trust Co acquired a new position in General Dynamics during the 4th quarter valued at about $607,000. Oppenheimer & Co. Inc. increased its holdings in General Dynamics by 10.0% during 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. Finally, Hickory Point Bank & Trust purchased a new stake in shares of General Dynamics in the fourth quarter worth approximately $692,000. Institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

GD has been the topic of several analyst reports. TD Cowen cut their target price on General Dynamics from $315.00 to $295.00 in a research report on Tuesday, January 28th. UBS Group cut their price objective on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Baird R W downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. William Blair cut shares of General Dynamics from an “outperform” rating to a “market perform” rating in a report on Friday, February 21st. Finally, The Goldman Sachs Group decreased their price objective on shares of General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, General Dynamics has a consensus rating of “Hold” and an average price target of $297.71.

General Dynamics Trading Up 2.7 %

Shares of GD opened at $271.82 on Monday. General Dynamics Co. has a fifty-two week low of $239.87 and a fifty-two week high of $316.90. The business has a 50-day moving average of $257.80 and a 200 day moving average of $279.78. The firm has a market cap of $73.49 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (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%. As a group, research analysts forecast that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be issued a $1.50 dividend. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Friday, April 11th. General Dynamics’s dividend payout ratio (DPR) is presently 43.99%.

General Dynamics declared that its Board of Directors has approved a stock buyback plan 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. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

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 value of $459,201.28. Following the completion of the transaction, the director now directly owns 11,175 shares in the company, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.52% of the stock is owned by company insiders.

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.