General Dynamics Co. (NYSE:GD) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC lessened its position in shares of General Dynamics Co. (NYSE:GD) by 8.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,545 shares of the aerospace company’s stock after selling 415 shares during the period. NewEdge Wealth LLC’s holdings in General Dynamics were worth $1,198,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its position in General Dynamics by 0.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,135 shares of the aerospace company’s stock worth $5,832,000 after acquiring an additional 101 shares during the last quarter. National Pension Service raised its position in shares of General Dynamics by 5.2% during the 4th quarter. National Pension Service now owns 504,022 shares of the aerospace company’s stock worth $132,805,000 after purchasing an additional 24,728 shares during the last quarter. Kirtland Hills Capital Management LLC raised its position in shares of General Dynamics by 4.4% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 4,742 shares of the aerospace company’s stock worth $1,249,000 after purchasing an additional 198 shares during the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new stake in General Dynamics in the 4th quarter valued at approximately $51,000. Finally, Pinnacle West Asset Management Inc. increased its position in General Dynamics by 8.7% during the fourth quarter. Pinnacle West Asset Management Inc. now owns 1,620 shares of the aerospace company’s stock worth $427,000 after buying an additional 130 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Up 0.5 %

GD opened at $252.87 on Friday. General Dynamics Co. has a 1 year low of $239.87 and a 1 year high of $316.90. The firm has a 50 day moving average price of $258.31 and a 200 day moving average price of $281.09. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The company has a market cap of $68.36 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 1.69 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (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%. Sell-side analysts expect that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were given a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Friday, January 17th. General Dynamics’s payout ratio is 41.64%.

General Dynamics declared that its Board of Directors has approved a share repurchase program 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 programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

GD has been the topic of several recent research reports. Robert W. Baird restated a “neutral” rating and issued a $283.00 price objective (down from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. BTIG Research cut shares of General Dynamics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 13th. Wolfe Research downgraded shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a report on Wednesday, December 11th. The Goldman Sachs Group decreased their target price on shares of General Dynamics from $245.00 to $241.00 and set a “sell” rating on the stock in a research report on Tuesday, January 28th. Finally, Baird R W cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $296.71.

Insider Activity

In other news, 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 directly owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. The trade was a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.52% of the company’s stock.

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.