General Dynamics Co. (NYSE:GD) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in General Dynamics Co. (NYSE:GD - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,289 shares of the aerospace company's stock after acquiring an additional 1,772 shares during the quarter. CIBC Asset Management Inc's holdings in General Dynamics were worth $15,348,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in GD. MFA Wealth Advisors LLC lifted its stake in shares of General Dynamics by 241.7% in the third 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 period. Financial Life Planners acquired a new stake in shares of General Dynamics during the 4th quarter valued at approximately $25,000. Hara Capital LLC purchased a new stake in shares of General Dynamics during the 3rd quarter worth approximately $26,000. Sugar Maple Asset Management LLC acquired a new stake in shares of General Dynamics in the 4th quarter worth approximately $28,000. Finally, Heck Capital Advisors LLC purchased a new position in General Dynamics in the 4th quarter valued at approximately $28,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction 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 completion of the sale, the director now owns 11,175 shares of the company's stock, valued at $2,857,224. This represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher J. Brady sold 5,540 shares of the business's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the transaction, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. This represents a 21.44 % 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

General Dynamics stock opened at $241.98 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The company has a market cap of $66.54 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 1.61 and a beta of 0.61. General Dynamics Co. has a 1 year low of $239.87 and a 1 year high of $316.90. The firm has a 50 day moving average price of $261.96 and a 200 day moving average price of $284.09.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data 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 return on equity of 17.10% and a net margin of 7.93%. Sell-side analysts predict that General Dynamics Co. will post 14.84 earnings per share for the current year.

General Dynamics declared that its board has approved a stock buyback plan on Wednesday, December 4th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

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 dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend was Friday, January 17th. General Dynamics's payout ratio is currently 41.64%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. The Goldman Sachs Group lowered their target price on General Dynamics from $245.00 to $241.00 and set a "sell" rating on the stock in a report on Tuesday, January 28th. Royal Bank of Canada dropped their target price on shares of General Dynamics from $290.00 to $280.00 and set a "sector perform" rating for the company in a report on Thursday, January 30th. Citigroup reduced their price target on shares of General Dynamics from $360.00 to $335.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Barclays dropped their price objective on shares of General Dynamics from $305.00 to $285.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Finally, BTIG Research lowered General Dynamics from a "buy" rating to a "neutral" rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $298.59.

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.

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