Alliancebernstein L.P. Sells 4,614 Shares of General Dynamics Co. (NYSE:GD)

Alliancebernstein L.P. lessened its position in General Dynamics Co. (NYSE:GD - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 266,086 shares of the aerospace company's stock after selling 4,614 shares during the quarter. Alliancebernstein L.P. owned 0.10% of General Dynamics worth $70,111,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Purus Wealth Management LLC grew its position in General Dynamics by 1.5% during the fourth quarter. Purus Wealth Management LLC now owns 2,660 shares of the aerospace company's stock valued at $701,000 after buying an additional 39 shares during the period. Armstrong Advisory Group Inc. boosted its stake in shares of General Dynamics by 4.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 1,051 shares of the aerospace company's stock worth $277,000 after acquiring an additional 40 shares during the last quarter. Austin Wealth Management LLC grew its position in shares of General Dynamics by 5.4% during the 4th quarter. Austin Wealth Management LLC now owns 826 shares of the aerospace company's stock valued at $220,000 after acquiring an additional 42 shares during the period. SRS Capital Advisors Inc. increased its stake in shares of General Dynamics by 35.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 163 shares of the aerospace company's stock worth $43,000 after purchasing an additional 43 shares in the last quarter. Finally, Stokes Family Office LLC increased its stake in shares of General Dynamics by 0.4% in the 4th quarter. Stokes Family Office LLC now owns 10,279 shares of the aerospace company's stock worth $2,708,000 after purchasing an additional 43 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

Several analysts have issued reports on the company. Wells Fargo & Company boosted their price target on General Dynamics from $244.00 to $261.00 and gave the company an "equal weight" rating in a report on Friday, March 7th. Baird R W cut General Dynamics from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Wolfe Research lowered shares of General Dynamics from an "outperform" rating to a "peer perform" rating in a report on Wednesday, December 11th. William Blair downgraded shares of General Dynamics from an "outperform" rating to a "market perform" rating in a report on Friday, February 21st. Finally, Vertical Research cut shares of 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 research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $298.59.

Insider Activity

In other news, Director Laura J. Schumacher sold 1,796 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the transaction, the director now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $272.11, for a total value of $7,499,895.82. Following the transaction, the senior vice president now owns 45,192 shares of the company's stock, valued at approximately $12,297,195.12. The trade was a 37.88 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company's stock.

General Dynamics Price Performance

Shares of NYSE GD traded up $11.97 during midday trading on Tuesday, reaching $259.65. 454,433 shares of the stock traded hands, compared to its average volume of 1,696,690. The company's 50 day moving average is $258.31 and its 200 day moving average is $274.95. General Dynamics Co. has a one year low of $239.20 and a one year high of $316.90. The stock has a market capitalization of $69.69 billion, a PE ratio of 19.05, a P/E/G ratio of 1.69 and a beta of 0.43. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82.

General Dynamics (NYSE:GD - Get Free Report) last posted its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share for the quarter, missing analysts' consensus estimates of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. On average, equities research analysts anticipate that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be issued a $1.50 dividend. This is a boost from General Dynamics's previous quarterly dividend of $1.42. The ex-dividend date is Friday, April 11th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.31%. General Dynamics's payout ratio is 43.99%.

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.