General Dynamics Co. (NYSE:GD) Shares Sold by First American Trust FSB

First American Trust FSB cut its holdings in shares of General Dynamics Co. (NYSE:GD) by 87.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,300 shares of the aerospace company’s stock after selling 16,040 shares during the period. First American Trust FSB’s holdings in General Dynamics were worth $606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FineMark National Bank & Trust raised its holdings in General Dynamics by 2.0% in the 4th quarter. FineMark National Bank & Trust now owns 5,887 shares of the aerospace company’s stock worth $1,551,000 after purchasing an additional 114 shares during the period. Modern Wealth Management LLC lifted its holdings in General Dynamics by 22.4% during the fourth quarter. Modern Wealth Management LLC now owns 2,684 shares of the aerospace company’s stock valued at $688,000 after purchasing an additional 491 shares in the last quarter. EntryPoint Capital LLC grew its position in shares of General Dynamics by 10.4% in the fourth quarter. EntryPoint Capital LLC now owns 1,599 shares of the aerospace company’s stock valued at $421,000 after purchasing an additional 150 shares during the period. Interchange Capital Partners LLC increased its stake in shares of General Dynamics by 10.5% during the fourth quarter. Interchange Capital Partners LLC now owns 819 shares of the aerospace company’s stock worth $215,000 after purchasing an additional 78 shares in the last quarter. Finally, ICW Investment Advisors LLC lifted its stake in General Dynamics by 0.5% in the 4th quarter. ICW Investment Advisors LLC now owns 8,491 shares of the aerospace company’s stock valued at $2,237,000 after buying an additional 43 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Trading Up 1.0 %

NYSE GD opened at $265.94 on Tuesday. General Dynamics Co. has a one year low of $239.87 and a one year high of $316.90. The firm has a 50 day simple moving average of $258.54 and a 200-day simple moving average of $277.45. The firm has a market cap of $71.90 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.69 and a beta of 0.59. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 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%. Equities research analysts anticipate that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics announced 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 purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be given a $1.50 dividend. The ex-dividend date is Friday, April 11th. This represents a $6.00 dividend on an annualized basis and a yield of 2.26%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s dividend payout ratio (DPR) is currently 43.99%.

Insider Activity

In other news, SVP Marguerite Amy Gilliland sold 27,562 shares of the company’s 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 transaction, the senior vice president now directly owns 45,192 shares of the company’s stock, valued at approximately $12,297,195.12. This represents a 37.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following the completion of the transaction, the director now directly owns 11,175 shares of the company’s stock, valued at $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

GD has been the subject of a number of recent research reports. Royal Bank of Canada cut their price objective on shares of General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a report on Thursday, January 30th. Wolfe Research cut shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 11th. Baird R W lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Wells Fargo & Company increased their price objective on General Dynamics from $244.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Friday, March 7th. Finally, UBS Group reduced their target price on General Dynamics from $337.00 to $281.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, General Dynamics presently has an average rating of “Hold” and a consensus target price of $297.71.

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.