Weybosset Research & Management LLC Lowers Stake in General Dynamics Co. (NYSE:GD)

Weybosset Research & Management LLC reduced its stake in shares of General Dynamics Co. (NYSE:GD) by 0.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 43,485 shares of the aerospace company’s stock after selling 306 shares during the period. General Dynamics comprises 3.9% of Weybosset Research & Management LLC’s holdings, making the stock its 9th biggest position. Weybosset Research & Management LLC’s holdings in General Dynamics were worth $11,458,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GD. Wellington Management Group LLP raised its stake in General Dynamics by 0.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,205,330 shares of the aerospace company’s stock valued at $4,292,851,000 after purchasing an additional 109,618 shares during the period. State Street Corp lifted its holdings in shares of General Dynamics by 9.4% in the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock worth $3,307,612,000 after buying an additional 943,247 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in General Dynamics by 2.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock valued at $2,366,124,000 after acquiring an additional 189,904 shares during the last quarter. Geode Capital Management LLC grew its position in shares of General Dynamics by 13.0% during the third quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock valued at $1,674,998,000 after purchasing an additional 638,342 shares in the last quarter. Finally, FMR LLC lifted its position in shares of General Dynamics by 0.5% in the third quarter. FMR LLC now owns 4,940,537 shares of the aerospace company’s stock worth $1,493,030,000 after buying an additional 24,464 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction dated 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 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 legal filing with the SEC, which is accessible through this link. Insiders own 1.52% of the company’s stock.

Analyst Upgrades and Downgrades

GD has been the topic of several recent research reports. Citigroup upped their price objective on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Sanford C. Bernstein dropped their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, The Goldman Sachs Group downgraded General Dynamics from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $283.00 to $245.00 in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $308.18.

General Dynamics Stock Performance

Shares of GD traded down $2.25 during trading hours on Friday, reaching $259.22. 280,072 shares of the company traded hands, compared to its average volume of 1,268,996. The stock has a market capitalization of $71.28 billion, a P/E ratio of 19.74, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average price of $277.21 and a 200-day moving average price of $289.35. General Dynamics Co. has a 12-month low of $247.36 and a 12-month high of $316.90.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.04 EPS. Equities analysts anticipate that General Dynamics Co. will post 13.84 EPS for the current fiscal year.

General Dynamics declared that its Board of Directors has authorized a stock buyback program on Wednesday, December 4th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid 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 2.19%. General Dynamics’s payout ratio is currently 43.26%.

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.