General Dynamics Co. (NYSE:GD) Shares Sold by Asset Dedication LLC

Asset Dedication LLC lowered its position in General Dynamics Co. (NYSE:GD) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,880 shares of the aerospace company’s stock after selling 151 shares during the quarter. Asset Dedication LLC’s holdings in General Dynamics were worth $1,286,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GD. MFA Wealth Advisors LLC lifted its stake in General Dynamics by 241.7% in 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 last quarter. Hara Capital LLC purchased a new stake in General Dynamics in the third quarter valued at approximately $26,000. Sugar Maple Asset Management LLC purchased a new stake in General Dynamics in the fourth quarter valued at approximately $28,000. Lowe Wealth Advisors LLC purchased a new stake in General Dynamics in the third quarter valued at approximately $30,000. Finally, True Wealth Design LLC purchased a new stake in General Dynamics in the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

General Dynamics stock opened at $262.33 on Wednesday. The stock’s 50-day moving average is $268.57 and its 200-day moving average is $287.48. The company has a market cap of $72.13 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 1.43 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. General Dynamics Co. has a 12 month low of $257.26 and a 12 month high of $316.90.

General Dynamics (NYSE:GD) last released 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 return on equity of 16.59% and a net margin of 7.90%. Equities analysts anticipate that General Dynamics Co. will post 13.66 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued 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 dividend yield of 2.17%. General Dynamics’s payout ratio is currently 43.26%.

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

Wall Street Analyst Weigh In

GD has been the subject of several analyst reports. Jefferies Financial Group restated a “hold” rating and set a $300.00 price target (down previously from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. Susquehanna cut their price target on General Dynamics from $330.00 to $315.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Vertical Research lowered General Dynamics from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $352.00 to $290.00 in a report on Monday, January 6th. Finally, Sanford C. Bernstein dropped their price objective on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, General Dynamics presently has an average rating of “Hold” and a consensus target price of $303.28.

Insider Activity at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of General Dynamics 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 completion of the transaction, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.52% of the company’s stock.

General Dynamics 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.