Miramar Capital LLC Increases Position in General Dynamics Co. (NYSE:GD)

Miramar Capital LLC lifted its position in shares of General Dynamics Co. (NYSE:GD) by 6.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 38,745 shares of the aerospace company’s stock after buying an additional 2,402 shares during the period. General Dynamics accounts for approximately 2.4% of Miramar Capital LLC’s portfolio, making the stock its 21st largest holding. Miramar Capital LLC’s holdings in General Dynamics were worth $10,209,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Empowered Funds LLC lifted its stake 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 period. Fifth Third Wealth Advisors LLC increased its position in General Dynamics by 67.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock worth $2,583,000 after purchasing an additional 3,448 shares during the last quarter. Kentucky Trust Co acquired a new position in General Dynamics during the fourth quarter worth approximately $607,000. Oppenheimer & Co. Inc. increased its position in General Dynamics by 10.0% during the third 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 during the last quarter. Finally, Hickory Point Bank & Trust acquired a new position in General Dynamics during the fourth quarter worth approximately $692,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

GD opened at $271.82 on Friday. The company has a fifty day simple moving average of $257.80 and a 200 day simple moving average of $279.88. The firm has a market cap of $73.49 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 1.69 and a beta of 0.59. General Dynamics Co. has a twelve month low of $239.87 and a twelve month high of $316.90. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. Equities research analysts expect that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics declared that its board has initiated a share buyback program on Wednesday, December 4th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.21%. This is an increase from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date is Friday, April 11th. General Dynamics’s dividend payout ratio is 41.64%.

Insider Buying and Selling at General Dynamics

In other news, Director Laura J. Schumacher sold 1,796 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

GD has been the subject of several research analyst reports. Royal Bank of Canada dropped their price target on shares of General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a research report on Thursday, January 30th. Baird R W lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Jefferies Financial Group reaffirmed a “hold” rating and set a $300.00 price target (down previously from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Barclays dropped their price target on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $297.71.

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.