BankPlus Trust Department Takes $35,000 Position in General Dynamics Co. (NYSE:GD)

BankPlus Trust Department acquired a new stake in General Dynamics Co. (NYSE:GD) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 132 shares of the aerospace company’s stock, valued at approximately $35,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its position in shares of General Dynamics by 37.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,629 shares of the aerospace company’s stock worth $5,291,000 after purchasing an additional 4,779 shares in the last quarter. PFG Investments LLC increased its position in shares of General Dynamics by 10.3% during the third quarter. PFG Investments LLC now owns 1,708 shares of the aerospace company’s stock worth $516,000 after purchasing an additional 160 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of General Dynamics by 13.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,430 shares of the aerospace company’s stock worth $1,037,000 after purchasing an additional 416 shares in the last quarter. Strategic Wealth Investment Group LLC increased its position in shares of General Dynamics by 336.5% during the third quarter. Strategic Wealth Investment Group LLC now owns 22,058 shares of the aerospace company’s stock worth $6,735,000 after purchasing an additional 17,005 shares in the last quarter. Finally, Pallas Capital Advisors LLC purchased a new stake in shares of General Dynamics during the third quarter worth approximately $355,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $249.83 on Wednesday. The business’s fifty day simple moving average is $258.97 and its 200-day simple moving average is $281.88. General Dynamics Co. has a 52 week low of $239.87 and a 52 week high of $316.90. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The firm has a market cap of $67.54 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.69 and a beta of 0.61.

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

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 2.27%. The ex-dividend date was Friday, January 17th. General Dynamics’s payout ratio is 41.64%.

General Dynamics announced that its board has initiated a share repurchase plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts recently commented on GD shares. Susquehanna dropped their price target on General Dynamics from $315.00 to $300.00 and set a “positive” rating for the company in a research report on Thursday, January 30th. Robert W. Baird restated a “neutral” rating and issued a $283.00 target price (down from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. Wells Fargo & Company dropped their target price on General Dynamics from $279.00 to $276.00 and set an “equal weight” rating for the company in a report on Thursday, January 30th. Vertical Research cut General Dynamics from a “buy” rating to a “hold” rating and dropped their target price for the company from $352.00 to $290.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $300.00 target price (down 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, thirteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $298.59.

Insider Buying and Selling

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the sale, the director now owns 11,175 shares of the company’s stock, valued at $2,857,224. This trade represents a 13.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by corporate insiders.

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.