Allspring Global Investments Holdings LLC Sells 25,038 Shares of General Dynamics Co. (NYSE:GD)

Allspring Global Investments Holdings LLC decreased its position in shares of General Dynamics Co. (NYSE:GD - Free Report) by 16.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 127,950 shares of the aerospace company's stock after selling 25,038 shares during the period. Allspring Global Investments Holdings LLC's holdings in General Dynamics were worth $33,396,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Creative Planning increased its holdings in shares of General Dynamics by 4.2% in the third quarter. Creative Planning now owns 46,948 shares of the aerospace company's stock valued at $14,188,000 after purchasing an additional 1,906 shares in the last quarter. Cornerstone Wealth Management LLC increased its holdings in shares of General Dynamics by 2.9% in the third quarter. Cornerstone Wealth Management LLC now owns 5,775 shares of the aerospace company's stock valued at $1,745,000 after purchasing an additional 162 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in shares of General Dynamics by 2.3% in the third quarter. Bleakley Financial Group LLC now owns 6,808 shares of the aerospace company's stock valued at $2,057,000 after purchasing an additional 150 shares in the last quarter. Marshall Financial Group LLC acquired a new stake in shares of General Dynamics in the third quarter valued at approximately $582,000. Finally, Trust Co. of Vermont increased its holdings in shares of General Dynamics by 1.0% in the third quarter. Trust Co. of Vermont now owns 7,101 shares of the aerospace company's stock valued at $2,146,000 after purchasing an additional 73 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

General Dynamics Stock Performance

Shares of General Dynamics stock traded up $0.50 during trading on Tuesday, hitting $242.44. 967,564 shares of the stock were exchanged, compared to its average volume of 1,690,461. The stock has a market capitalization of $66.66 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 1.61 and a beta of 0.61. The company has a fifty day moving average price of $261.40 and a 200-day moving average price of $283.72. General Dynamics Co. has a 1-year low of $239.87 and a 1-year high of $316.90. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD - Get Free Report) last announced its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. As a group, equities analysts predict that General Dynamics Co. will post 14.84 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Friday, January 17th. General Dynamics's payout ratio is 41.64%.

General Dynamics announced that its board has initiated a share buyback 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. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

GD has been the topic of a number of recent research reports. Royal Bank of Canada reduced their price objective on shares of General Dynamics from $290.00 to $280.00 and set a "sector perform" rating on the stock in a research note on Thursday, January 30th. The Goldman Sachs Group reduced their price objective on shares of General Dynamics from $245.00 to $241.00 and set a "sell" rating on the stock in a research note on Tuesday, January 28th. TD Cowen reduced their price target on shares of General Dynamics from $315.00 to $295.00 in a research report on Tuesday, January 28th. UBS Group reduced their price target on shares of General Dynamics from $337.00 to $281.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 28th. Finally, Baird R W cut shares of General Dynamics from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $298.59.

Insider Buying and Selling

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of the business's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following the completion of the sale, the director now owns 11,175 shares of the company's stock, valued at $2,857,224. The trade was a 13.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Christopher J. Brady sold 5,540 shares of the business'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 sale, the vice president now directly 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 disclosure for this sale can be found here. 1.52% of the stock is currently owned by insiders.

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.