General Dynamics Co. (NYSE:GD) Stock Position Lowered by Amalgamated Bank

Amalgamated Bank lowered its position in shares of General Dynamics Co. (NYSE:GD) by 6.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,650 shares of the aerospace company’s stock after selling 3,615 shares during the quarter. Amalgamated Bank’s holdings in General Dynamics were worth $13,609,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GD. Financial Life Planners acquired a new stake in shares of General Dynamics during the 4th quarter valued at $25,000. Hara Capital LLC acquired a new position in shares of General Dynamics in the 3rd quarter worth $26,000. Sugar Maple Asset Management LLC acquired a new stake in shares of General Dynamics during the fourth quarter worth $28,000. Heck Capital Advisors LLC purchased a new stake in shares of General Dynamics during the fourth quarter valued at $28,000. Finally, Financial Perspectives Inc boosted its position in shares of General Dynamics by 195.0% in the 4th quarter. Financial Perspectives Inc now owns 118 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 78 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GD. Wolfe Research downgraded General Dynamics from an “outperform” rating to a “peer perform” rating in a report on Wednesday, December 11th. Citigroup cut their price target on shares of General Dynamics from $360.00 to $335.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $300.00 price objective (down previously from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. Susquehanna cut their target price on shares of General Dynamics from $315.00 to $300.00 and set a “positive” rating on the stock in a research note on Thursday, January 30th. Finally, William Blair lowered General Dynamics from an “outperform” rating to a “market perform” rating in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock 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, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was 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 in the company, valued at $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

General Dynamics Stock Up 1.4 %

Shares of General Dynamics stock opened at $249.83 on Wednesday. The stock has a 50-day simple moving average of $258.97 and a 200-day simple moving average of $281.88. General Dynamics Co. has a 52-week low of $239.87 and a 52-week high of $316.90. The firm has a market cap of $67.54 billion, a price-to-earnings ratio of 18.32, a P/E/G ratio of 1.69 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 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%. On average, equities research analysts expect that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

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

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

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.