General Dynamics Co. (NYSE:GD) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. lowered its position in shares of General Dynamics Co. (NYSE:GD) by 5.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,384 shares of the aerospace company’s stock after selling 983 shares during the quarter. Logan Capital Management Inc.’s holdings in General Dynamics were worth $5,253,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. MFA Wealth Advisors LLC lifted its holdings in General Dynamics by 241.7% in the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 58 shares during the last quarter. Hara Capital LLC bought a new stake in shares of General Dynamics during the 3rd quarter worth $26,000. American Capital Advisory LLC acquired a new position in shares of General Dynamics in the 2nd quarter valued at $29,000. Lowe Wealth Advisors LLC acquired a new stake in shares of General Dynamics in the third quarter worth $30,000. Finally, Atlantic Edge Private Wealth Management LLC boosted its stake in shares of General Dynamics by 120.0% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 110 shares of the aerospace company’s stock valued at $32,000 after buying an additional 60 shares during the period. Institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

GD has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on General Dynamics from $322.00 to $295.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Royal Bank of Canada boosted their price objective on General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. The Goldman Sachs Group cut shares of General Dynamics from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $283.00 to $245.00 in a research report on Thursday. Finally, Barclays increased their target price on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $317.38.

General Dynamics Trading Up 0.2 %

GD traded up $0.52 during trading on Friday, reaching $263.56. 73,574 shares of the stock traded hands, compared to its average volume of 1,131,126. The stock’s 50-day moving average is $292.58 and its 200 day moving average is $293.98. General Dynamics Co. has a 12 month low of $247.36 and a 12 month high of $316.90. The stock has a market capitalization of $72.47 billion, a PE ratio of 20.03, a P/E/G 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 (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter in the previous year, the company posted $3.04 EPS. The firm’s revenue was up 10.4% on a year-over-year basis. Equities analysts anticipate that General Dynamics Co. will post 13.87 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Friday, January 17th. General Dynamics’s dividend payout ratio is currently 43.26%.

General Dynamics declared that its Board of Directors has authorized a share repurchase program on Wednesday, December 4th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, VP Christopher J. Brady sold 5,540 shares of the company’s 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 sale, the vice president now owns 20,296 shares in the company, 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 filing with the SEC, which can be accessed through this link. Also, Director Peter A. Wall sold 1,320 shares of the firm’s 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 transaction, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This trade represents a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by company insiders.

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.