Franklin Resources Inc. Cuts Stock Position in General Dynamics Co. (NYSE:GD)

Franklin Resources Inc. lessened its stake in General Dynamics Co. (NYSE:GD - Free Report) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,773,670 shares of the aerospace company's stock after selling 20,022 shares during the period. Franklin Resources Inc. owned 0.65% of General Dynamics worth $535,400,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Coston McIsaac & Partners grew its position in shares of General Dynamics by 22.8% during the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company's stock worth $53,000 after buying an additional 33 shares in the last quarter. Global X Japan Co. Ltd. grew its holdings in General Dynamics by 2.3% during the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company's stock worth $448,000 after acquiring an additional 33 shares in the last quarter. Grove Bank & Trust increased its position in General Dynamics by 10.6% during the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company's stock valued at $107,000 after purchasing an additional 34 shares during the period. Trueblood Wealth Management LLC raised its holdings in shares of General Dynamics by 1.6% in the 3rd quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company's stock valued at $672,000 after purchasing an additional 34 shares in the last quarter. Finally, Modera Wealth Management LLC lifted its position in shares of General Dynamics by 0.4% in the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company's stock worth $2,356,000 after purchasing an additional 35 shares during the period. Institutional investors own 86.14% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GD shares. Royal Bank of Canada lifted their price objective on shares of General Dynamics from $320.00 to $330.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Citigroup lifted their price target on General Dynamics from $331.00 to $354.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Susquehanna upped their price objective on General Dynamics from $333.00 to $352.00 and gave the stock a "positive" rating in a research note on Thursday, October 17th. Jefferies Financial Group reiterated a "hold" rating and issued a $300.00 target price (down previously from $345.00) on shares of General Dynamics in a research note on Thursday. Finally, Barclays increased their price target on shares of General Dynamics from $325.00 to $330.00 and gave the company an "overweight" rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $317.38.

Insider Buying and Selling

In other news, Director Peter A. Wall sold 1,320 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now owns 3,592 shares of the company's stock, valued at $1,106,515.60. This trade represents a 26.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Christopher J. Brady sold 5,540 shares of the business's stock in a transaction on 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 disclosure for this sale can be found here. 1.52% of the stock is currently owned by corporate insiders.

General Dynamics Stock Performance

GD stock traded up $0.07 during midday trading on Friday, reaching $263.11. The stock had a trading volume of 1,673,421 shares, compared to its average volume of 1,137,823. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. The firm has a fifty day simple moving average of $291.83 and a two-hundred day simple moving average of $293.73. The stock has a market cap of $72.35 billion, a PE ratio of 20.04, a P/E/G ratio of 1.63 and a beta of 0.59. General Dynamics Co. has a 52-week low of $247.36 and a 52-week high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts' expectations of $11.65 billion. During the same quarter in the previous year, the business earned $3.04 earnings per share. The company's revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, equities research analysts anticipate that General Dynamics Co. will post 13.87 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.16%. General Dynamics's payout ratio is currently 43.26%.

General Dynamics declared that its board has authorized a share repurchase plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are 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.