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

Stonebridge Capital Management Inc. decreased its position in shares of General Dynamics Co. (NYSE:GD) by 0.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 25,648 shares of the aerospace company’s stock after selling 200 shares during the period. General Dynamics makes up 2.8% of Stonebridge Capital Management Inc.’s holdings, making the stock its 8th largest holding. Stonebridge Capital Management Inc.’s holdings in General Dynamics were worth $6,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the company. Fifth Third Wealth Advisors LLC increased its position in shares of 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 valued at $2,583,000 after buying an additional 3,448 shares in the last quarter. Olstein Capital Management L.P. lifted its stake in General Dynamics by 36.4% in the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock valued at $4,533,000 after buying an additional 4,000 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of General Dynamics by 10.0% in the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock worth $11,204,000 after acquiring an additional 3,363 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in General Dynamics by 69.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company’s stock valued at $69,032,000 after purchasing an additional 107,095 shares during the last quarter. Finally, Lummis Asset Management LP grew its holdings in shares of General Dynamics by 32.6% during the third quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock worth $3,133,000 after buying an additional 2,551 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on GD. Sanford C. Bernstein reduced their target price on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Baird R W lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Citigroup raised their price target on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Barclays cut their price objective on shares of General Dynamics from $330.00 to $305.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $304.53.

Insider Transactions at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of General Dynamics 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. The trade was a 21.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by corporate insiders.

General Dynamics Stock Performance

GD opened at $265.89 on Thursday. The stock’s 50 day simple moving average is $275.30 and its 200-day simple moving average is $288.61. The stock has a market cap of $73.11 billion, a PE ratio of 20.25, a P/E/G ratio of 1.38 and a beta of 0.61. General Dynamics Co. has a 1 year low of $247.36 and a 1 year high of $316.90. The company has a current ratio of 1.32, a quick ratio of 0.80 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). The firm had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.04 earnings per share. Sell-side analysts forecast that General Dynamics Co. will post 13.81 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a $1.42 dividend. The ex-dividend date is Friday, January 17th. This represents a $5.68 annualized dividend and a yield of 2.14%. General Dynamics’s dividend payout ratio is currently 43.26%.

General Dynamics announced that its board has approved a stock buyback plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the aerospace company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is 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.