Trinity Legacy Partners LLC Has $234,000 Stock Position in General Dynamics Co. (NYSE:GD)

Trinity Legacy Partners LLC cut its stake in General Dynamics Co. (NYSE:GD) by 7.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 889 shares of the aerospace company’s stock after selling 72 shares during the period. Trinity Legacy Partners LLC’s holdings in General Dynamics were worth $234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in GD. International Assets Investment Management LLC grew its holdings in shares of General Dynamics by 40,389.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock worth $416,876,000 after purchasing an additional 1,376,065 shares during the last quarter. State Street Corp grew its position in General Dynamics by 9.4% during the 3rd quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock worth $3,307,612,000 after acquiring an additional 943,247 shares during the last quarter. Geode Capital Management LLC increased its holdings in General Dynamics by 13.0% during the 3rd quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock valued at $1,674,998,000 after purchasing an additional 638,342 shares in the last quarter. Two Sigma Advisers LP raised its position in General Dynamics by 117.0% in the 3rd quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company’s stock valued at $259,469,000 after purchasing an additional 463,000 shares during the last quarter. Finally, Barclays PLC boosted its stake in General Dynamics by 43.1% in the third quarter. Barclays PLC now owns 942,485 shares of the aerospace company’s stock worth $284,818,000 after purchasing an additional 283,972 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling

In other news, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 11,175 shares in the company, valued at approximately $2,857,224. This represents a 13.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.52% of the stock is currently owned by insiders.

General Dynamics Trading Up 0.8 %

Shares of General Dynamics stock opened at $246.25 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $260.08 and its 200-day moving average is $282.84. General Dynamics Co. has a 12-month low of $239.87 and a 12-month high of $316.90. The stock has a market cap of $66.58 billion, a P/E ratio of 18.05, a P/E/G ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. Equities research analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics declared that its Board of Directors has approved a stock repurchase plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were given a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Friday, January 17th. General Dynamics’s payout ratio is 41.64%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Susquehanna reduced their price target on shares of General Dynamics from $315.00 to $300.00 and set a “positive” rating on the stock in a research report on Thursday, January 30th. Royal Bank of Canada decreased their price target on shares of General Dynamics from $290.00 to $280.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 30th. Wells Fargo & Company dropped their price objective 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. Robert W. Baird reiterated a “neutral” rating and issued a $283.00 price objective (down from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. Finally, TD Cowen cut their price target on General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, General Dynamics has a consensus rating of “Hold” and a consensus price target of $298.59.

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.