General Dynamics Co. (NYSE:GD) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN reduced its position in General Dynamics Co. (NYSE:GD) by 5.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,283 shares of the aerospace company’s stock after selling 330 shares during the period. OLD National Bancorp IN’s holdings in General Dynamics were worth $1,392,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GD. MFA Wealth Advisors LLC boosted its position in shares of General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after buying an additional 58 shares during the period. Hara Capital LLC bought a new position in General Dynamics during the third quarter valued at about $26,000. Sugar Maple Asset Management LLC acquired a new position in shares of General Dynamics in the 4th quarter worth approximately $28,000. True Wealth Design LLC bought a new position in shares of General Dynamics in the third quarter valued at $34,000. Finally, Coston McIsaac & Partners raised its position in shares of General Dynamics by 22.8% during the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after purchasing an additional 33 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the sale, the vice president now directly owns 20,296 shares in the company, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GD shares. The Goldman Sachs Group reduced their target price on General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a report on Tuesday. Citigroup boosted their target price on shares of General Dynamics from $354.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. lowered their price objective on General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a report on Thursday. Wells Fargo & Company lowered their target price on shares of General Dynamics from $279.00 to $276.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Dynamics presently has an average rating of “Hold” and a consensus price target of $301.24.

General Dynamics Trading Up 0.1 %

NYSE:GD opened at $257.17 on Friday. 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 $247.01 and a 1-year high of $316.90. The firm has a market capitalization of $70.71 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 1.34 and a beta of 0.61. The business’s 50-day moving average price is $267.54 and its two-hundred day moving average price is $287.02.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a return on equity of 17.08% and a net margin of 7.93%. On average, equities analysts expect that General Dynamics Co. will post 15.92 earnings per share for the current year.

General Dynamics announced that its board has approved a stock repurchase plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

General Dynamics Dividend Announcement

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 paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 2.21%. The ex-dividend date is Friday, January 17th. General Dynamics’s payout ratio is presently 41.64%.

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.