Woodstock Corp Sells 91 Shares of General Dynamics Co. (NYSE:GD)

Woodstock Corp lessened its stake in shares of General Dynamics Co. (NYSE:GD) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,546 shares of the aerospace company’s stock after selling 91 shares during the quarter. Woodstock Corp’s holdings in General Dynamics were worth $1,725,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Goldstone Financial Group LLC bought a new position in shares of General Dynamics in the 4th quarter worth $208,000. Capital Planning LLC raised its holdings in General Dynamics by 9.8% during the fourth quarter. Capital Planning LLC now owns 1,538 shares of the aerospace company’s stock worth $405,000 after buying an additional 137 shares during the last quarter. KMG Fiduciary Partners LLC lifted its stake in shares of General Dynamics by 5.8% in the fourth quarter. KMG Fiduciary Partners LLC now owns 16,880 shares of the aerospace company’s stock valued at $4,448,000 after buying an additional 924 shares in the last quarter. Werlinich Asset Management LLC grew its holdings in shares of General Dynamics by 3.9% during the fourth quarter. Werlinich Asset Management LLC now owns 5,580 shares of the aerospace company’s stock valued at $1,470,000 after buying an additional 210 shares during the last quarter. Finally, Fermata Advisors LLC bought a new stake in shares of General Dynamics during the fourth quarter worth about $390,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Price Performance

General Dynamics stock opened at $268.97 on Friday. The business’s 50 day simple moving average is $274.45 and its 200 day simple moving average is $288.45. General Dynamics Co. has a 12 month low of $247.36 and a 12 month high of $316.90. The company has a market cap of $73.96 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 1.38 and a beta of 0.61. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. During the same period in the prior year, the company earned $3.04 EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. Sell-side analysts forecast that General Dynamics Co. will post 13.81 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.11%. General Dynamics’s payout ratio is 43.26%.

General Dynamics declared that its Board of Directors has approved a stock repurchase program on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

GD has been the subject of a number of analyst reports. Royal Bank of Canada downgraded General Dynamics from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $330.00 to $290.00 in a research note on Thursday, December 19th. Wolfe Research cut General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. Barclays decreased their price target on General Dynamics from $330.00 to $305.00 and set an “overweight” rating for the company in a report on Monday, January 6th. The Goldman Sachs Group cut General Dynamics from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $283.00 to $245.00 in a research note on Thursday, December 12th. Finally, Susquehanna reduced their target price on shares of General Dynamics from $330.00 to $315.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $304.53.

Insider Activity

In other news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction on 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 directly owns 20,296 shares of the company’s stock, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.