Peapack Gladstone Financial Corp Has $35.88 Million Stake in General Dynamics Co. (NYSE:GD)

Peapack Gladstone Financial Corp cut its holdings in shares of General Dynamics Co. (NYSE:GD) by 0.4% during the fourth quarter, Holdings Channel reports. The fund owned 136,172 shares of the aerospace company’s stock after selling 504 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in General Dynamics were worth $35,880,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Financial Life Planners bought a new stake in General Dynamics in the 4th quarter valued at $25,000. Whipplewood Advisors LLC bought a new stake in shares of General Dynamics in the fourth quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of General Dynamics in the fourth quarter valued at about $26,000. Heck Capital Advisors LLC bought a new position in General Dynamics during the fourth quarter worth about $28,000. Finally, Hoey Investments Inc. bought a new position in General Dynamics during the fourth quarter worth about $28,000. Institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of General Dynamics from $244.00 to $261.00 and gave the company an “equal weight” rating in a research report on Friday, March 7th. Robert W. Baird reiterated a “neutral” rating and set a $283.00 target price (down from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. Jefferies Financial Group reissued a “hold” rating and set a $300.00 target price (down from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Wolfe Research downgraded General Dynamics from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 11th. Finally, Barclays reduced their price objective on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $298.59.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $272.11, for a total value of $7,499,895.82. Following the sale, the senior vice president now directly owns 45,192 shares in the company, valued at $12,297,195.12. This represents a 37.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Laura J. Schumacher sold 1,796 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

General Dynamics Price Performance

General Dynamics stock opened at $249.94 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The business’s 50 day simple moving average is $258.75 and its 200 day simple moving average is $275.54. General Dynamics Co. has a 12 month low of $239.87 and a 12 month high of $316.90. The company has a market cap of $67.08 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 1.69 and a beta of 0.43.

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

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.00 annualized dividend and a yield of 2.40%. This is an increase from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s dividend payout ratio (DPR) is currently 43.99%.

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.