General Dynamics Co. (NYSE:GD) Shares Sold by Cape ANN Savings Bank

Cape ANN Savings Bank decreased its position in shares of General Dynamics Co. (NYSE:GD) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,931 shares of the aerospace company’s stock after selling 108 shares during the quarter. General Dynamics accounts for about 0.9% of Cape ANN Savings Bank’s holdings, making the stock its 28th biggest position. Cape ANN Savings Bank’s holdings in General Dynamics were worth $1,563,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GD. Empowered Funds LLC grew its position in shares of General Dynamics by 15.3% in the fourth quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock valued at $2,553,000 after purchasing an additional 1,283 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in General Dynamics by 67.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock valued at $2,583,000 after buying an additional 3,448 shares during the last quarter. Olstein Capital Management L.P. increased its position in General Dynamics by 36.4% during the third quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock worth $4,533,000 after buying an additional 4,000 shares in the last quarter. Kentucky Trust Co acquired a new position in shares of General Dynamics in the fourth quarter worth $607,000. Finally, Oppenheimer & Co. Inc. lifted its position in shares of General Dynamics by 10.0% in the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock valued at $11,204,000 after acquiring an additional 3,363 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Down 1.3 %

GD opened at $243.02 on Monday. General Dynamics Co. has a 1 year low of $239.87 and a 1 year high of $316.90. The firm has a 50 day moving average price of $259.68 and a 200 day moving average price of $282.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The company has a market cap of $65.70 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 1.69 and a beta of 0.61.

General Dynamics (NYSE:GD) last released 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 return on equity of 17.10% and a net margin of 7.93%. Sell-side analysts expect that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The business 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 2.34%. The ex-dividend date was Friday, January 17th. General Dynamics’s payout ratio is 41.64%.

General Dynamics announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 4th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GD. BTIG Research cut General Dynamics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. JPMorgan Chase & Co. reduced their price objective on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. William Blair cut shares of General Dynamics from an “outperform” rating to a “market perform” rating in a research note on Friday. Finally, Royal Bank of Canada reduced their price target on 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. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $298.59.

Insider Activity

In other news, Director Laura J. Schumacher sold 1,796 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. The trade was a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.52% of the company’s stock.

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.