Wilmington Savings Fund Society FSB Has $817,000 Stock Position in General Dynamics Co. (NYSE:GD)

Wilmington Savings Fund Society FSB cut its stake in General Dynamics Co. (NYSE:GD) by 16.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,101 shares of the aerospace company’s stock after selling 598 shares during the period. Wilmington Savings Fund Society FSB’s holdings in General Dynamics were worth $817,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GD. Fifth Third Wealth Advisors LLC lifted its holdings in shares of General Dynamics by 67.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock worth $2,583,000 after acquiring an additional 3,448 shares during the period. Olstein Capital Management L.P. boosted its holdings in General Dynamics by 36.4% during the third quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock valued at $4,533,000 after purchasing an additional 4,000 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of General Dynamics by 10.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock valued at $11,204,000 after purchasing an additional 3,363 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of General Dynamics by 69.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company’s stock worth $69,032,000 after buying an additional 107,095 shares in the last quarter. Finally, Lummis Asset Management LP boosted its stake in General Dynamics by 32.6% in the 3rd quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock valued at $3,133,000 after buying an additional 2,551 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Activity

In related news, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the transaction, the director now directly owns 11,175 shares in the company, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 20,296 shares in the company, valued at $5,701,349.36. The trade was a 21.44 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Price Performance

General Dynamics stock opened at $256.17 on Tuesday. The firm has a market capitalization of $70.44 billion, a P/E ratio of 18.78, a PEG ratio of 1.61 and a beta of 0.61. The business has a 50-day moving average of $264.47 and a 200-day moving average of $285.57. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 1 year low of $247.01 and a 1 year high of $316.90.

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 return on equity of 17.10% and a net margin of 7.93%. On average, equities analysts anticipate that General Dynamics Co. will post 14.84 EPS for the current year.

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

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is presently 41.64%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GD shares. Jefferies Financial Group reissued a “hold” rating and set a $300.00 price objective (down from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Citigroup decreased their price objective on shares of General Dynamics from $360.00 to $335.00 and set a “buy” rating on the stock in a research note on Monday. JPMorgan Chase & Co. reduced their target price on General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. TD Cowen cut their price objective on General Dynamics from $315.00 to $295.00 in a research report on Tuesday, January 28th. Finally, UBS Group lowered their target price on General Dynamics from $337.00 to $281.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $298.59.

General Dynamics 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.