Peak Financial Advisors LLC Sells 5,410 Shares of General Dynamics Co. (NYSE:GD)

Peak Financial Advisors LLC lessened its stake in General Dynamics Co. (NYSE:GD) by 54.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,591 shares of the aerospace company’s stock after selling 5,410 shares during the quarter. Peak Financial Advisors LLC’s holdings in General Dynamics were worth $1,210,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of General Dynamics by 0.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,205,330 shares of the aerospace company’s stock valued at $4,292,851,000 after buying an additional 109,618 shares during the period. State Street Corp lifted its holdings in General Dynamics by 9.4% during the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock worth $3,307,612,000 after acquiring an additional 943,247 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of General Dynamics by 2.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock worth $2,366,124,000 after acquiring an additional 189,904 shares in the last quarter. Geode Capital Management LLC raised its position in shares of General Dynamics by 13.0% during the third quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock worth $1,674,998,000 after purchasing an additional 638,342 shares during the period. Finally, FMR LLC lifted its holdings in shares of General Dynamics by 0.5% during the 3rd quarter. FMR LLC now owns 4,940,537 shares of the aerospace company’s stock valued at $1,493,030,000 after purchasing an additional 24,464 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Buying and Selling

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the 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 represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.52% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GD has been the subject of a number of research reports. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Jefferies Financial Group restated a “hold” rating and set a $300.00 price objective (down from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Barclays reduced their target price on shares of General Dynamics from $330.00 to $305.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company dropped their price target on General Dynamics from $295.00 to $279.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada downgraded General Dynamics from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $330.00 to $290.00 in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $304.53.

General Dynamics Stock Performance

NYSE GD opened at $264.92 on Wednesday. The company has a market capitalization of $72.84 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 1.62 and a beta of 0.61. The stock has a fifty day simple moving average of $275.30 and a 200 day simple moving average of $288.61. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. General Dynamics Co. has a twelve month low of $247.36 and a twelve month high of $316.90.

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

General Dynamics announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

General Dynamics Announces Dividend

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

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.