General Dynamics Co. (NYSE:GD) Holdings Lowered by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC lowered its stake in General Dynamics Co. (NYSE:GD) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,153 shares of the aerospace company’s stock after selling 185 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in General Dynamics were worth $1,621,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. MFA Wealth Advisors LLC increased its position in shares of General Dynamics by 241.7% in 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 acquired a new position in General Dynamics in the 3rd quarter worth approximately $26,000. Lowe Wealth Advisors LLC acquired a new position in General Dynamics in the 3rd quarter worth approximately $30,000. True Wealth Design LLC purchased a new position in General Dynamics during the 3rd quarter worth approximately $34,000. Finally, Coston McIsaac & Partners raised its stake 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. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Performance

GD opened at $264.92 on Wednesday. The stock has a market cap of $72.84 billion, a PE ratio of 20.18, a P/E/G ratio of 1.62 and a beta of 0.61. General Dynamics Co. has a 1 year low of $247.36 and a 1 year high of $316.90. The stock’s 50 day simple moving average is $275.30 and its 200-day simple moving average is $288.61. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32.

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

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 2.14%. 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 approved a share buyback plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wolfe Research cut General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. Susquehanna decreased their price objective on General Dynamics from $330.00 to $315.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Robert W. Baird reiterated a “neutral” rating and issued a $283.00 price objective (down previously from $345.00) on shares of General Dynamics in a research note on Tuesday. Finally, Seaport Res Ptn lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $304.53.

Insider Activity

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction on Friday, November 22nd. The stock was 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 approximately $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Company 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.