General Dynamics Co. (NYSE:GD) Shares Sold by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC reduced its position in General Dynamics Co. (NYSE:GD) by 11.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 626 shares of the aerospace company’s stock after selling 77 shares during the period. Bruce G. Allen Investments LLC’s holdings in General Dynamics were worth $165,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. MFA Wealth Advisors LLC grew its stake in shares of General Dynamics by 241.7% in the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after buying an additional 58 shares in the last quarter. Hara Capital LLC acquired a new position in shares of General Dynamics during the third quarter worth $26,000. Lowe Wealth Advisors LLC purchased a new position in shares of General Dynamics in the third quarter valued at $30,000. True Wealth Design LLC purchased a new stake in shares of General Dynamics during the third quarter worth about $34,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of General Dynamics by 385.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 131 shares of the aerospace company’s stock valued at $38,000 after buying an additional 104 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Down 1.0 %

Shares of NYSE GD traded down $2.49 during mid-day trading on Friday, reaching $258.98. The company had a trading volume of 950,448 shares, compared to its average volume of 1,353,874. The stock’s 50 day moving average is $277.21 and its 200-day moving average is $289.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. General Dynamics Co. has a twelve month low of $247.36 and a twelve month high of $316.90. The stock has a market capitalization of $71.21 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its quarterly earnings data 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 return on equity of 16.59% and a net margin of 7.90%. The firm had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same quarter in the prior year, the company posted $3.04 EPS. The company’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, equities analysts anticipate that General Dynamics Co. will post 13.84 earnings per share for the current fiscal year.

General Dynamics announced that its Board of Directors has approved 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 buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a $1.42 dividend. The ex-dividend date is Friday, January 17th. This represents a $5.68 annualized dividend and a yield of 2.19%. General Dynamics’s dividend payout ratio (DPR) is presently 43.26%.

Insiders Place Their Bets

In other news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction dated 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 completion of the transaction, the vice president now owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GD shares. Jefferies Financial Group reiterated a “hold” rating and issued a $300.00 price target (down from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft dropped their price target on General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. The Goldman Sachs Group downgraded shares of General Dynamics from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $283.00 to $245.00 in a research report on Thursday, December 12th. Seaport Res Ptn lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, Susquehanna cut their price target on General Dynamics from $330.00 to $315.00 and set a “positive” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, General Dynamics currently has an average rating of “Hold” and a consensus target price of $308.18.

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.