General Dynamics Co. (NYSE:GD) Shares Sold by Chemung Canal Trust Co.

Chemung Canal Trust Co. cut its position in shares of General Dynamics Co. (NYSE:GD) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,741 shares of the aerospace company’s stock after selling 46 shares during the quarter. Chemung Canal Trust Co.’s holdings in General Dynamics were worth $986,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GD. Pflug Koory LLC increased its stake in shares of General Dynamics by 15.2% in the fourth quarter. Pflug Koory LLC now owns 1,910 shares of the aerospace company’s stock valued at $503,000 after purchasing an additional 252 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its stake in General Dynamics by 65.6% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 20,770 shares of the aerospace company’s stock valued at $5,473,000 after acquiring an additional 8,228 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in General Dynamics by 17.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 776 shares of the aerospace company’s stock worth $204,000 after acquiring an additional 113 shares during the period. CX Institutional grew its stake in shares of General Dynamics by 4.6% in the fourth quarter. CX Institutional now owns 10,777 shares of the aerospace company’s stock worth $2,840,000 after purchasing an additional 476 shares in the last quarter. Finally, Southland Equity Partners LLC increased its holdings in shares of General Dynamics by 5.7% during the fourth quarter. Southland Equity Partners LLC now owns 1,103 shares of the aerospace company’s stock valued at $291,000 after purchasing an additional 59 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 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 transaction, the vice president now 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Price Performance

Shares of GD opened at $266.22 on Friday. 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 company has a market capitalization of $73.20 billion, a price-to-earnings ratio of 20.28, a P/E/G ratio of 1.43 and a beta of 0.61. The business’s 50-day moving average is $269.70 and its 200-day moving average is $287.74. General Dynamics Co. has a fifty-two week low of $257.26 and a fifty-two week high of $316.90.

General Dynamics (NYSE:GD) last released 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). 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 during the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter in the previous year, the company earned $3.04 EPS. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. Equities research analysts expect that General Dynamics Co. will post 13.66 EPS for the current fiscal year.

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

General Dynamics Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.13%. General Dynamics’s payout ratio is 43.26%.

Wall Street Analysts Forecast Growth

GD has been the subject of several recent analyst reports. Jefferies Financial Group reiterated a “hold” rating and issued a $300.00 price objective (down from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. TD Cowen raised General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Citigroup upped their price target on shares of General Dynamics from $354.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Baird R W lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $304.88.

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.