Stock Yards Bank & Trust Co. Sells 1,477 Shares of General Dynamics Co. (NYSE:GD)

Stock Yards Bank & Trust Co. trimmed its stake in shares of General Dynamics Co. (NYSE:GD) by 37.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,471 shares of the aerospace company’s stock after selling 1,477 shares during the period. Stock Yards Bank & Trust Co.’s holdings in General Dynamics were worth $651,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in shares of General Dynamics by 40,389.3% during the third quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock valued at $416,876,000 after buying an additional 1,376,065 shares during the period. State Street Corp increased its position in shares of General Dynamics by 9.4% during the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock worth $3,307,612,000 after purchasing an additional 943,247 shares in the last quarter. Geode Capital Management LLC raised its stake in General Dynamics by 13.0% in 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 buying an additional 638,342 shares during the last quarter. Two Sigma Advisers LP grew its position in General Dynamics by 117.0% during the 3rd quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company’s stock worth $259,469,000 after purchasing an additional 463,000 shares during the last quarter. Finally, Barclays PLC increased its position in shares of General Dynamics by 43.1% in the 3rd quarter. Barclays PLC now owns 942,485 shares of the aerospace company’s stock valued at $284,818,000 after acquiring an additional 283,972 shares during the period. 86.14% of the stock is owned by institutional investors.

General Dynamics Price Performance

NYSE GD opened at $256.80 on Tuesday. General Dynamics Co. has a 52-week low of $247.01 and a 52-week high of $316.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. The firm has a market capitalization of $70.61 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 1.46 and a beta of 0.61. The company has a 50 day simple moving average of $267.05 and a 200-day simple moving average of $286.76.

General Dynamics (NYSE:GD) last posted its earnings results 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 net margin of 7.93% and a return on equity of 17.10%. Equities research analysts predict that General Dynamics Co. will post 14.88 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

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

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

Analyst Ratings Changes

GD has been the subject of several recent research reports. Barclays reduced their price target on General Dynamics from $330.00 to $305.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Sanford C. Bernstein decreased their price target on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. JPMorgan Chase & Co. lowered their price target on General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Finally, Wells Fargo & Company lowered their price objective on General Dynamics from $279.00 to $276.00 and set an “equal weight” rating for the company in a research report on Thursday, January 30th. 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, the stock has a consensus rating of “Hold” and a consensus price target of $301.24.

Insider Transactions at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction on 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 completion of 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.52% of the stock is owned by insiders.

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.