Franklin Resources Inc. Sells 20,022 Shares of General Dynamics Co. (NYSE:GD)

Franklin Resources Inc. lowered its position in General Dynamics Co. (NYSE:GD) by 1.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,773,670 shares of the aerospace company’s stock after selling 20,022 shares during the period. Franklin Resources Inc.’s holdings in General Dynamics were worth $535,400,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. MFA Wealth Advisors LLC boosted its position 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 purchasing 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 purchased a new position in shares of General Dynamics in the 2nd quarter worth about $29,000. Lowe Wealth Advisors LLC bought a new position in General Dynamics during the third quarter valued at about $30,000. Finally, Atlantic Edge Private Wealth Management LLC increased its holdings in General Dynamics by 120.0% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 110 shares of the aerospace company’s stock worth $32,000 after buying an additional 60 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Susquehanna increased their target price on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft reduced their price objective on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a report on Friday, November 1st. Citigroup raised their target price on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Barclays upped their price target on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Finally, TD Cowen raised General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and an average target price of $317.38.

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 shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the transaction, the vice president now directly owns 20,296 shares in the company, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter A. Wall sold 1,320 shares of the 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 completion of the transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 26.87 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is owned by company insiders.

General Dynamics Stock Performance

General Dynamics stock opened at $263.18 on Friday. The firm’s 50 day simple moving average is $291.83 and its 200 day simple moving average is $293.73. 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 Co. has a 1-year low of $247.36 and a 1-year high of $316.90. The firm has a market capitalization of $72.37 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 1.63 and a beta of 0.59.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). The firm had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.04 EPS. As a group, analysts expect that General Dynamics Co. will post 13.87 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

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

General Dynamics declared that its Board of Directors has approved a share repurchase plan on Wednesday, December 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are 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.