Arvest Investments Inc. reduced its stake in shares of General Dynamics Co. (NYSE:GD - Free Report) by 31.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,617 shares of the aerospace company's stock after selling 4,896 shares during the quarter. Arvest Investments Inc.'s holdings in General Dynamics were worth $2,798,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Community Bank N.A. boosted its position in shares of General Dynamics by 0.6% during the third quarter. Community Bank N.A. now owns 5,461 shares of the aerospace company's stock worth $1,650,000 after buying an additional 35 shares during the period. Freedom Investment Management Inc. boosted its position in General Dynamics by 0.9% during the 3rd quarter. Freedom Investment Management Inc. now owns 4,344 shares of the aerospace company's stock worth $1,313,000 after acquiring an additional 37 shares during the period. Purus Wealth Management LLC grew 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 purchasing an additional 39 shares in the last quarter. Armstrong Advisory Group Inc. increased its holdings in shares of General Dynamics by 4.0% during the fourth 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 shares of General Dynamics by 4.2% during the third 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 in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.
General Dynamics Stock Up 1.0 %
NYSE:GD traded up $2.53 during trading hours on Monday, hitting $265.94. 1,023,214 shares of the stock traded hands, compared to its average volume of 1,249,611. The firm has a market cap of $71.90 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.69 and a beta of 0.59. The firm has a 50 day moving average price of $258.50 and a 200 day moving average price of $277.67. 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 Co. has a fifty-two week low of $239.87 and a fifty-two week high of $316.90.
General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (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%. 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 disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, April 11th. This is an increase from General Dynamics's previous quarterly dividend of $1.42. This represents a $6.00 dividend on an annualized basis and a yield of 2.26%. General Dynamics's payout ratio is presently 43.99%.
General Dynamics declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to buy shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.
Analyst Upgrades and Downgrades
GD has been the topic of several research analyst reports. BTIG Research cut shares of General Dynamics from a "buy" rating to a "neutral" rating in a research note on Thursday, February 13th. Vertical Research cut General Dynamics from a "buy" rating to a "hold" rating and dropped their target price for the stock from $352.00 to $290.00 in a report on Monday, January 6th. Citigroup decreased their price target on General Dynamics from $360.00 to $335.00 and set a "buy" rating for the company in a research note on Monday, February 10th. Barclays dropped their price objective on General Dynamics from $305.00 to $285.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Finally, Baird R W cut General Dynamics from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, General Dynamics currently has a consensus rating of "Hold" and an average price target of $297.71.
Read Our Latest Analysis on General Dynamics
Insider Buying and Selling at General Dynamics
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 stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the transaction, the director now owns 11,175 shares in the company, valued at $2,857,224. The trade was a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm'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 directly owns 45,192 shares of the company's stock, valued at $12,297,195.12. This trade represents a 37.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.52% of the company's stock.
About General Dynamics
(
Free Report)
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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