Bruce G. Allen Investments LLC Has $165,000 Holdings in General Dynamics Co. (NYSE:GD)

Bruce G. Allen Investments LLC trimmed its holdings in shares of General Dynamics Co. (NYSE:GD) by 11.0% in the fourth quarter, HoldingsChannel reports. The firm owned 626 shares of the aerospace company’s stock after selling 77 shares during the period. Bruce G. Allen Investments LLC’s holdings in General Dynamics were worth $165,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Acadian Asset Management LLC grew its position in shares of General Dynamics by 239.7% during the 2nd quarter. Acadian Asset Management LLC now owns 8,075 shares of the aerospace company’s stock worth $2,341,000 after buying an additional 5,698 shares during the period. PFG Investments LLC lifted its stake in shares of General Dynamics by 22.1% in the 2nd quarter. PFG Investments LLC now owns 1,548 shares of the aerospace company’s stock valued at $449,000 after purchasing an additional 280 shares during the period. Dorsey & Whitney Trust CO LLC boosted its position in shares of General Dynamics by 3.0% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 2,013 shares of the aerospace company’s stock worth $584,000 after purchasing an additional 58 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of General Dynamics by 10.9% during the second quarter. Daiwa Securities Group Inc. now owns 25,204 shares of the aerospace company’s stock worth $7,313,000 after purchasing an additional 2,471 shares during the period. Finally, MGO One Seven LLC lifted its stake in General Dynamics by 1.5% in the second quarter. MGO One Seven LLC now owns 7,425 shares of the aerospace company’s stock valued at $2,154,000 after buying an additional 111 shares during the period. Institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $5,701,349.36. This represents a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

GD has been the subject of a number of analyst reports. Sanford C. Bernstein decreased their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Vertical Research cut General Dynamics from a “buy” rating to a “hold” rating and lowered their target price for the stock from $352.00 to $290.00 in a research note on Monday. Royal Bank of Canada downgraded shares of General Dynamics from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $330.00 to $290.00 in a research report on Thursday, December 19th. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, General Dynamics has an average rating of “Hold” and an average target price of $308.18.

General Dynamics Stock Performance

GD traded down $2.49 during trading on Friday, hitting $258.98. The stock had a trading volume of 950,448 shares, compared to its average volume of 1,353,874. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The firm has a market cap of $71.21 billion, a price-to-earnings ratio of 19.72, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a 50 day moving average price of $277.21 and a 200-day moving average price of $289.35. General Dynamics Co. has a one year low of $247.36 and a one year high of $316.90.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The business had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.04 EPS. As a group, research analysts predict that General Dynamics Co. will post 13.84 EPS for the current year.

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

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a dividend of $1.42 per share. The ex-dividend date is Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.19%. General Dynamics’s dividend payout ratio is 43.26%.

About General Dynamics

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.