FFG Partners LLC Buys 668 Shares of General Dynamics Co. (NYSE:GD)

FFG Partners LLC boosted its stake in shares of General Dynamics Co. (NYSE:GD) by 3.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 19,875 shares of the aerospace company’s stock after buying an additional 668 shares during the quarter. General Dynamics makes up 2.1% of FFG Partners LLC’s holdings, making the stock its 16th largest holding. FFG Partners LLC’s holdings in General Dynamics were worth $6,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of GD. Fifth Third Wealth Advisors LLC lifted its position in General Dynamics by 67.6% in 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 period. Olstein Capital Management L.P. lifted its holdings in shares of General Dynamics by 36.4% during the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock worth $4,533,000 after acquiring an additional 4,000 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of General Dynamics by 10.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock valued at $11,204,000 after acquiring an additional 3,363 shares in the last quarter. Lummis Asset Management LP increased its stake in General Dynamics by 32.6% in the third quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock valued at $3,133,000 after acquiring an additional 2,551 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in General Dynamics by 0.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 588,619 shares of the aerospace company’s stock worth $177,881,000 after purchasing an additional 5,069 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Susquehanna upped their price objective on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Wolfe Research cut General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. Sanford C. Bernstein reduced their price objective on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Barclays raised their price target on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $317.38.

Insider Activity

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 20,296 shares in the company, valued at $5,701,349.36. This represents a 21.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is owned by corporate insiders.

General Dynamics Stock Up 0.2 %

GD traded up $0.52 during trading on Friday, hitting $263.56. The company had a trading volume of 73,574 shares, compared to its average volume of 1,131,126. The firm’s 50-day moving average price is $292.58 and its 200 day moving average price is $293.98. The company has a market capitalization of $72.47 billion, a PE ratio of 20.03, a PEG ratio of 1.63 and a beta of 0.59. 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 one year low of $247.36 and a one year high of $316.90.

General Dynamics (NYSE:GD) last posted 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 return on equity of 16.59% and a net margin of 7.90%. The firm had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter in the previous year, the business posted $3.04 earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities analysts expect that General Dynamics Co. will post 13.87 earnings per share for the current year.

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 given a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 annualized dividend and a yield of 2.16%. General Dynamics’s dividend payout ratio (DPR) is presently 43.26%.

General Dynamics declared that its board has approved a stock buyback plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.