General Dynamics Co. (NYSE:GD) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its position in shares of General Dynamics Co. (NYSE:GD) by 0.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,872 shares of the aerospace company’s stock after selling 512 shares during the period. Retirement Systems of Alabama’s holdings in General Dynamics were worth $14,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. MFA Wealth Advisors LLC lifted its stake in shares of General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 58 shares during the last quarter. Financial Life Planners purchased a new position in General Dynamics during the fourth quarter worth about $25,000. Hara Capital LLC acquired a new stake in shares of General Dynamics during the third quarter valued at about $26,000. Sugar Maple Asset Management LLC purchased a new stake in shares of General Dynamics in the 4th quarter valued at approximately $28,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of General Dynamics during the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Barclays cut their target price on General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a research report on Tuesday. Sanford C. Bernstein decreased their target price on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Baird R W downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Robert W. Baird reiterated a “neutral” rating and set a $283.00 price target (down from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. Finally, Citigroup raised their price objective on shares of General Dynamics from $354.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $300.06.

Insider Activity at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now 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 filing with the SEC, which is available through this link. Also, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following the sale, the director now directly owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. This represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

General Dynamics Stock Performance

Shares of GD opened at $254.84 on Friday. The company has a market capitalization of $70.07 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 1.46 and a beta of 0.61. General Dynamics Co. has a 52-week low of $247.01 and a 52-week high of $316.90. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average price of $265.06 and a 200 day moving average price of $285.87.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. Research analysts predict that General Dynamics Co. will post 14.88 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were issued a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Friday, January 17th. General Dynamics’s payout ratio is currently 41.64%.

General Dynamics declared that its Board of Directors has initiated a share repurchase program on Wednesday, December 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

General Dynamics Company 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.