Burney Co. Sells 221 Shares of General Dynamics Co. (NYSE:GD)

Burney Co. trimmed its position in General Dynamics Co. (NYSE:GD) by 1.5% in the fourth quarter, HoldingsChannel reports. The firm owned 14,944 shares of the aerospace company’s stock after selling 221 shares during the quarter. Burney Co.’s holdings in General Dynamics were worth $3,938,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC grew its position in 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. Olstein Capital Management L.P. grew its position in General Dynamics by 36.4% in the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock worth $4,533,000 after purchasing an additional 4,000 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in General Dynamics by 10.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock worth $11,204,000 after purchasing an additional 3,363 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of General Dynamics by 69.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company’s stock valued at $69,032,000 after acquiring an additional 107,095 shares during the period. Finally, Lummis Asset Management LP grew its position in shares of General Dynamics by 32.6% during the 3rd quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock valued at $3,133,000 after acquiring an additional 2,551 shares during the period. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Performance

NYSE GD opened at $265.89 on Thursday. General Dynamics Co. has a 1 year low of $247.36 and a 1 year high of $316.90. 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 stock has a market capitalization of $73.11 billion, a PE ratio of 20.25, a P/E/G ratio of 1.62 and a beta of 0.61. The company’s 50 day simple moving average is $275.30 and its two-hundred day simple moving average is $288.61.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). The firm had revenue of $11.67 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.04 earnings per share. Analysts predict that General Dynamics Co. will post 13.84 earnings per share for the current fiscal year.

General Dynamics declared that its board has approved a stock buyback plan on Wednesday, December 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is currently 43.26%.

Insider Activity

In other news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the sale, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

GD has been the subject of a number of research reports. Baird R W downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Citigroup increased their target price on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Royal Bank of Canada downgraded shares of General Dynamics from an “outperform” rating to a “sector perform” rating and reduced their target price for the company 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 report on Tuesday, October 8th. Finally, Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, General Dynamics has a consensus rating of “Hold” and an average target price of $304.53.

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.