Patrick M Sweeney & Associates Inc. Grows Position in General Dynamics Co. (NYSE:GD)

Patrick M Sweeney & Associates Inc. increased its holdings in General Dynamics Co. (NYSE:GD) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,403 shares of the aerospace company’s stock after acquiring an additional 82 shares during the quarter. Patrick M Sweeney & Associates Inc.’s holdings in General Dynamics were worth $370,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GD. 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 valued at $25,000 after buying an additional 58 shares during the last quarter. Hara Capital LLC purchased a new stake in shares of General Dynamics during the third quarter valued at about $26,000. Lowe Wealth Advisors LLC purchased a new position in shares of General Dynamics in the 3rd quarter valued at approximately $30,000. Sugar Maple Asset Management LLC purchased a new position in shares of General Dynamics in the 4th quarter valued at approximately $28,000. Finally, True Wealth Design LLC purchased a new position in shares of General Dynamics in the 3rd quarter valued at approximately $34,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

General Dynamics stock opened at $269.64 on Tuesday. The company’s fifty day moving average price is $269.27 and its 200 day moving average price is $287.74. General Dynamics Co. has a 1 year low of $257.26 and a 1 year high of $316.90. The stock has a market capitalization of $74.14 billion, a P/E ratio of 20.54, a P/E/G ratio of 1.43 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32.

General Dynamics Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 2.11%. General Dynamics’s dividend payout ratio is currently 43.26%.

General Dynamics declared that its Board of Directors has authorized a share repurchase plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GD. Wolfe Research lowered shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. Royal Bank of Canada lowered shares of General Dynamics from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $330.00 to $290.00 in a research report on Thursday, December 19th. Vertical Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating and decreased their price objective for the company from $352.00 to $290.00 in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $300.00 price target (down previously from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $304.88.

Insider Activity at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction 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 sale, 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 position. 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 corporate 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.