Pinnacle Wealth Management Advisory Group LLC Sells 373 Shares of General Dynamics Co. (NYSE:GD)

Pinnacle Wealth Management Advisory Group LLC reduced its position in shares of General Dynamics Co. (NYSE:GD) by 12.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,592 shares of the aerospace company’s stock after selling 373 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in General Dynamics were worth $683,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Coston McIsaac & Partners boosted 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 valued at $53,000 after buying an additional 33 shares during the last quarter. Global X Japan Co. Ltd. boosted its holdings in shares of General Dynamics by 2.3% during the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock valued at $448,000 after acquiring an additional 33 shares during the last quarter. Trueblood Wealth Management LLC grew its stake in shares of General Dynamics by 1.6% in the third quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock worth $672,000 after acquiring an additional 34 shares during the period. Jeppson Wealth Management LLC raised its holdings in shares of General Dynamics by 3.8% during the third quarter. Jeppson Wealth Management LLC now owns 955 shares of the aerospace company’s stock valued at $289,000 after purchasing an additional 35 shares during the last quarter. Finally, Community Bank N.A. lifted its position in General Dynamics by 0.6% during the third quarter. Community Bank N.A. now owns 5,461 shares of the aerospace company’s stock valued at $1,650,000 after purchasing an additional 35 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. UBS Group decreased their target price on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Wolfe Research cut General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. Wells Fargo & Company reduced their price target on shares of 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. BTIG Research downgraded shares of General Dynamics from a “buy” rating to a “neutral” rating in a report on Thursday. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $300.00 target price (down from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $298.59.

General Dynamics Price Performance

Shares of General Dynamics stock opened at $241.98 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a twelve month low of $239.87 and a twelve month high of $316.90. The business has a 50-day moving average price of $261.96 and a 200 day moving average price of $284.19. The firm has a market cap of $66.54 billion, a PE ratio of 17.74, a P/E/G ratio of 1.61 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) 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%. Sell-side analysts predict that General Dynamics Co. will post 14.84 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were paid a dividend of $1.42 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $5.68 annualized dividend and a yield of 2.35%. General Dynamics’s dividend payout ratio is presently 41.64%.

General Dynamics announced that its Board of Directors has authorized 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 purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at General Dynamics

In related 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 sale, the vice president now owns 20,296 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through this link. Also, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the sale, the director now directly owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is owned by insiders.

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.