Mitchell Mcleod Pugh & Williams Inc. Sells 869 Shares of General Dynamics Co. (NYSE:GD)

Mitchell Mcleod Pugh & Williams Inc. reduced its position in shares of General Dynamics Co. (NYSE:GD) by 18.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,962 shares of the aerospace company’s stock after selling 869 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in General Dynamics were worth $1,044,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AE Wealth Management LLC lifted its holdings in shares of General Dynamics by 1.8% during the second quarter. AE Wealth Management LLC now owns 5,225 shares of the aerospace company’s stock worth $1,516,000 after purchasing an additional 94 shares during the period. Summit Trail Advisors LLC increased its stake in shares of General Dynamics by 10.7% in the second quarter. Summit Trail Advisors LLC now owns 1,293 shares of the aerospace company’s stock valued at $375,000 after buying an additional 125 shares during the period. Kowal Investment Group LLC raised its position in shares of General Dynamics by 12.0% during the second quarter. Kowal Investment Group LLC now owns 3,049 shares of the aerospace company’s stock worth $885,000 after acquiring an additional 327 shares during the last quarter. Frank Rimerman Advisors LLC lifted its stake in shares of General Dynamics by 3,139.0% in the second quarter. Frank Rimerman Advisors LLC now owns 1,911 shares of the aerospace company’s stock worth $554,000 after acquiring an additional 1,852 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in General Dynamics by 2,189.3% in the second quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock valued at $108,572,000 after acquiring an additional 357,861 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Trading Down 0.7 %

Shares of GD stock opened at $266.86 on Monday. The company has a market capitalization of $73.38 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 1.38 and a beta of 0.61. General Dynamics Co. has a 52-week low of $247.36 and a 52-week high of $316.90. The business’s fifty day moving average is $272.86 and its 200 day moving average is $288.19. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The business 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 business’s revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.04 EPS. On average, equities research analysts anticipate that General Dynamics Co. will post 13.81 EPS for the current fiscal year.

General Dynamics declared that its Board of Directors has initiated a stock 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 reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

General Dynamics Dividend Announcement

The business 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 2.13%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s dividend payout ratio is currently 43.26%.

Insider Buying and Selling

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 value of $1,556,241.40. Following the transaction, the vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wolfe Research downgraded shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. Barclays cut their price target on shares of General Dynamics from $330.00 to $305.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. The Goldman Sachs Group cut 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 note on Thursday, December 12th. Finally, Citigroup boosted their price target on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued 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 “Hold” and an average price target of $304.53.

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.