Webster Bank N. A. Has $3.95 Million Stock Holdings in General Dynamics Co. (NYSE:GD)

Webster Bank N. A. decreased its stake in shares of General Dynamics Co. (NYSE:GD) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,006 shares of the aerospace company’s stock after selling 359 shares during the quarter. Webster Bank N. A.’s holdings in General Dynamics were worth $3,954,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in GD. Hunter Perkins Capital Management LLC raised its position in General Dynamics by 106.5% during the fourth quarter. Hunter Perkins Capital Management LLC now owns 26,012 shares of the aerospace company’s stock worth $6,854,000 after acquiring an additional 13,414 shares in the last quarter. United Asset Strategies Inc. increased its stake in shares of General Dynamics by 3.0% during the 4th quarter. United Asset Strategies Inc. now owns 3,103 shares of the aerospace company’s stock worth $818,000 after purchasing an additional 90 shares during the last quarter. Apexium Financial LP raised its holdings in shares of General Dynamics by 1.7% in the 4th quarter. Apexium Financial LP now owns 3,200 shares of the aerospace company’s stock valued at $843,000 after purchasing an additional 55 shares during the period. Capital Asset Advisory Services LLC lifted its stake in General Dynamics by 2.6% in the 4th quarter. Capital Asset Advisory Services LLC now owns 2,765 shares of the aerospace company’s stock valued at $728,000 after purchasing an additional 70 shares during the last quarter. Finally, Blue Trust Inc. increased its position in General Dynamics by 63.6% during the fourth quarter. Blue Trust Inc. now owns 4,009 shares of the aerospace company’s stock worth $1,056,000 after buying an additional 1,559 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Down 0.9 %

NYSE GD opened at $266.22 on Monday. General Dynamics Co. has a fifty-two week low of $257.26 and a fifty-two week high of $316.90. The business has a fifty day moving average price of $269.27 and a two-hundred day moving average price of $287.74. 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 $73.20 billion, a PE ratio of 20.28, a PEG ratio of 1.43 and a beta of 0.61.

General Dynamics declared that its Board of Directors has initiated a share repurchase plan on Wednesday, December 4th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the aerospace company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.13%. General Dynamics’s dividend payout ratio (DPR) is currently 43.26%.

Insider Activity

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the transaction, the vice president now owns 20,296 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this link. 1.52% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GD has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a $300.00 target price (down previously from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Sanford C. Bernstein lowered their price target on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Finally, Vertical Research cut General Dynamics from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $352.00 to $290.00 in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $304.88.

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.