Frank Rimerman Advisors LLC Decreases Holdings in General Dynamics Co. (NYSE:GD)

Frank Rimerman Advisors LLC cut its stake in shares of General Dynamics Co. (NYSE:GD) by 4.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,751 shares of the aerospace company’s stock after selling 87 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in General Dynamics were worth $461,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Empowered Funds LLC increased its stake in shares of General Dynamics by 15.3% in the 4th quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock worth $2,553,000 after purchasing an additional 1,283 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its stake in shares of General Dynamics by 67.6% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock worth $2,583,000 after purchasing an additional 3,448 shares in the last quarter. Kentucky Trust Co purchased a new stake in shares of General Dynamics in the 4th quarter worth $607,000. Hickory Point Bank & Trust purchased a new stake in shares of General Dynamics in the 4th quarter worth $692,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake 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 purchasing an additional 107,095 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Up 0.4 %

Shares of NYSE:GD opened at $262.19 on Monday. 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 12 month low of $239.87 and a 12 month high of $316.90. The company has a 50-day moving average price of $257.89 and a 200 day moving average price of $278.77. The company has a market cap of $70.88 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 1.69 and a beta of 0.59.

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

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

General Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be issued a $1.50 dividend. This is an increase from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.29%. General Dynamics’s dividend payout ratio (DPR) is presently 43.99%.

Insider Activity at General Dynamics

In related news, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following the sale, the director now directly owns 11,175 shares of the company’s stock, valued at $2,857,224. This represents a 13.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the completion of the sale, the senior vice president now directly owns 45,192 shares in the company, valued at $12,297,195.12. This trade represents a 37.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Robert W. Baird restated a “neutral” rating and issued a $283.00 price objective (down from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. Wolfe Research lowered General Dynamics from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 11th. BTIG Research downgraded shares of General Dynamics from a “buy” rating to a “neutral” rating in a report on Thursday, February 13th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $300.00 target price (down previously from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Finally, Citigroup dropped their target price on shares of General Dynamics from $360.00 to $335.00 and set a “buy” rating for the company in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $297.71.

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.