General Dynamics Co. (NYSE:GD) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp raised its position in General Dynamics Co. (NYSE:GD - Free Report) by 18.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,624 shares of the aerospace company's stock after acquiring an additional 6,058 shares during the quarter. Cibc World Markets Corp's holdings in General Dynamics were worth $10,441,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Community Bank N.A. lifted its holdings in General Dynamics by 0.6% in the third quarter. Community Bank N.A. now owns 5,461 shares of the aerospace company's stock valued at $1,650,000 after acquiring an additional 35 shares during the period. Freedom Investment Management Inc. raised its stake in shares of General Dynamics by 0.9% in the third quarter. Freedom Investment Management Inc. now owns 4,344 shares of the aerospace company's stock worth $1,313,000 after buying an additional 37 shares during the period. Purus Wealth Management LLC raised its stake in shares of General Dynamics by 1.5% in the fourth quarter. Purus Wealth Management LLC now owns 2,660 shares of the aerospace company's stock worth $701,000 after buying an additional 39 shares during the period. Armstrong Advisory Group Inc. raised its stake in General Dynamics by 4.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 1,051 shares of the aerospace company's stock valued at $277,000 after purchasing an additional 40 shares during the period. Finally, Cobblestone Capital Advisors LLC NY raised its stake in General Dynamics by 4.2% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,012 shares of the aerospace company's stock valued at $306,000 after purchasing an additional 41 shares during the period. Institutional investors own 86.14% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. William Blair downgraded General Dynamics from an "outperform" rating to a "market perform" rating in a research note on Friday, February 21st. TD Cowen decreased their target price on General Dynamics from $315.00 to $295.00 in a research report on Tuesday, January 28th. Vertical Research lowered General Dynamics from a "buy" rating to a "hold" rating and decreased their target price for the company from $352.00 to $290.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. decreased their target price on General Dynamics from $307.00 to $284.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. Finally, Wells Fargo & Company boosted their price target on General Dynamics from $244.00 to $261.00 and gave the stock an "equal weight" rating in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $297.71.

Insider Transactions at General Dynamics

In other news, SVP Marguerite Amy Gilliland sold 27,562 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the sale, the senior vice president now owns 45,192 shares in the company, valued at $12,297,195.12. This represents a 37.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Laura J. Schumacher sold 1,796 shares of the company's stock in a transaction dated Friday, January 31st. The stock was 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 in the company, valued at $2,857,224. The trade was a 13.85 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.52% of the company's stock.

General Dynamics Stock Performance

General Dynamics stock traded down $2.40 during trading hours on Friday, hitting $263.30. 3,313,608 shares of the stock traded hands, compared to its average volume of 1,248,440. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. The firm's 50 day moving average price is $258.50 and its 200-day moving average price is $277.91. The stock has a market capitalization of $71.18 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 1.69 and a beta of 0.59. General Dynamics Co. has a 1 year low of $239.87 and a 1 year high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. As a group, equities analysts expect that General Dynamics Co. will post 14.83 EPS for the current fiscal 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 paid a $1.50 dividend. This is an increase from General Dynamics's previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.28%. General Dynamics's dividend payout ratio is presently 43.99%.

General Dynamics declared that its board has authorized a share repurchase program on Wednesday, December 4th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

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.