InTrack Investment Management Inc Makes New $546,000 Investment in General Dynamics Co. (NYSE:GD)

InTrack Investment Management Inc purchased a new stake in shares of General Dynamics Co. (NYSE:GD) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 2,060 shares of the aerospace company’s stock, valued at approximately $546,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. MFA Wealth Advisors LLC lifted its position 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 acquiring an additional 58 shares in the last quarter. Hara Capital LLC bought a new stake in shares of General Dynamics during the 3rd quarter valued at $26,000. Lowe Wealth Advisors LLC purchased a new stake in General Dynamics during the 3rd quarter worth about $30,000. True Wealth Design LLC bought a new position in General Dynamics in the 3rd quarter worth about $34,000. Finally, Coston McIsaac & Partners grew its holdings 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 buying an additional 33 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GD shares. Sanford C. Bernstein cut their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company cut their price target on shares of General Dynamics from $295.00 to $279.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada cut shares of General Dynamics from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $330.00 to $290.00 in a report on Thursday, December 19th. Baird R W lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Finally, The Goldman Sachs Group lowered General Dynamics from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $283.00 to $245.00 in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, General Dynamics presently has a consensus rating of “Hold” and an average target price of $304.53.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the firm’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 transaction, the vice president now owns 20,296 shares of the company’s stock, valued at approximately $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 is accessible through this link. Insiders own 1.60% of the company’s stock.

General Dynamics Stock Performance

Shares of NYSE:GD opened at $266.86 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The company has a market cap of $73.38 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 1.38 and a beta of 0.61. General Dynamics Co. has a 12 month low of $247.36 and a 12 month high of $316.90. The company has a 50-day moving average price of $273.71 and a 200-day moving average price of $288.32.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The business had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter last year, the business posted $3.04 EPS. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities analysts anticipate that General Dynamics Co. will post 13.81 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a $1.42 dividend. The ex-dividend date is Friday, January 17th. This represents a $5.68 annualized dividend and a yield of 2.13%. General Dynamics’s payout ratio is 43.26%.

General Dynamics declared that its board has authorized a share buyback plan on Wednesday, December 4th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership 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.