Pinnacle Bancorp Inc. Has $598,000 Holdings in General Dynamics Co. (NYSE:GD)

Pinnacle Bancorp Inc. trimmed its position in General Dynamics Co. (NYSE:GD) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,269 shares of the aerospace company’s stock after selling 42 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in General Dynamics were worth $598,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in GD. MFA Wealth Advisors LLC raised its position in 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 period. Hara Capital LLC acquired a new stake in General Dynamics during the 3rd quarter worth about $26,000. Lowe Wealth Advisors LLC purchased a new position in General Dynamics during the 3rd quarter valued at about $30,000. True Wealth Design LLC acquired a new position in shares of General Dynamics in the 3rd quarter valued at about $34,000. Finally, Coston McIsaac & Partners lifted its position in shares of General Dynamics by 22.8% in the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after purchasing an additional 33 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Trading Up 0.3 %

Shares of GD stock opened at $265.89 on Thursday. The firm’s fifty day simple moving average is $275.30 and its 200 day simple moving average is $288.61. The firm has a market capitalization of $73.11 billion, a P/E ratio of 20.25, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. 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 Co. has a 1 year low of $247.36 and a 1 year high of $316.90.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same period last year, the company earned $3.04 EPS. The company’s revenue was up 10.4% on a year-over-year basis. As a group, sell-side analysts predict that General Dynamics Co. will post 13.84 EPS for the current year.

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

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a yield of 2.14%. General Dynamics’s dividend payout ratio is currently 43.26%.

Insider Activity

In other news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the sale, the vice president now directly owns 20,296 shares in the company, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of General Dynamics from $295.00 to $279.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group downgraded shares of General Dynamics from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $283.00 to $245.00 in a research note on Thursday, December 12th. Susquehanna reduced 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. Deutsche Bank Aktiengesellschaft dropped their target price on General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada lowered General Dynamics from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $330.00 to $290.00 in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $304.53.

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.