General Dynamics Co. (NYSE:GD) Shares Sold by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC reduced its position in shares of General Dynamics Co. (NYSE:GD) by 0.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,038 shares of the aerospace company’s stock after selling 56 shares during the period. NorthCrest Asset Manangement LLC’s holdings in General Dynamics were worth $15,819,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in GD. Wealth Enhancement Advisory Services LLC raised its holdings in General Dynamics by 69.1% in the fourth 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 in the last quarter. Norway Savings Bank raised its holdings in shares of General Dynamics by 4.6% in the fourth quarter. Norway Savings Bank now owns 3,983 shares of the aerospace company’s stock valued at $1,049,000 after buying an additional 174 shares during the last quarter. Diversified Trust Co lifted its position in General Dynamics by 2.7% during the 4th quarter. Diversified Trust Co now owns 2,221 shares of the aerospace company’s stock worth $585,000 after acquiring an additional 58 shares during the period. Capital Market Strategies LLC lifted its holdings in shares of General Dynamics by 9.0% during the fourth quarter. Capital Market Strategies LLC now owns 1,492 shares of the aerospace company’s stock worth $393,000 after purchasing an additional 123 shares during the period. Finally, Central Pacific Bank Trust Division increased its stake in shares of General Dynamics by 6.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 1,683 shares of the aerospace company’s stock worth $443,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Down 0.9 %

Shares of GD traded down $2.38 during trading on Friday, reaching $259.09. The company’s stock had a trading volume of 304,484 shares, compared to its average volume of 1,273,669. General Dynamics Co. has a twelve month low of $247.36 and a twelve month high of $316.90. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The company has a market cap of $71.24 billion, a price-to-earnings ratio of 19.73, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a fifty day moving average of $277.21 and a two-hundred day moving average of $289.35.

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

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. This represents a $5.68 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Friday, January 17th. General Dynamics’s dividend payout ratio is currently 43.26%.

General Dynamics announced that its Board of Directors has authorized a stock buyback plan 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. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Citigroup raised their target price on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. The Goldman Sachs Group cut General Dynamics from a “neutral” rating to a “sell” rating and cut their price target for the stock from $283.00 to $245.00 in a report on Thursday, December 12th. Wells Fargo & Company decreased their target price on shares of General Dynamics from $295.00 to $279.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Wolfe Research cut General Dynamics from an “outperform” rating to a “peer perform” rating in a report on Wednesday, December 11th. Finally, Royal Bank of Canada downgraded General Dynamics from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $330.00 to $290.00 in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $308.18.

Insiders Place Their Bets

In related news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the transaction, the vice president now directly owns 20,296 shares in the company, valued at $5,701,349.36. This represents a 21.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.52% of the stock is currently owned by corporate insiders.

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.