Thrivent Financial for Lutherans cut its stake in General Dynamics Co. (NYSE:GD - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 363,920 shares of the aerospace company's stock after selling 10,056 shares during the period. Thrivent Financial for Lutherans owned approximately 0.13% of General Dynamics worth $96,102,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC increased its position in shares of General Dynamics by 15.3% during the fourth quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company's stock valued at $2,553,000 after purchasing an additional 1,283 shares during the period. Fifth Third Wealth Advisors LLC increased its holdings in General Dynamics by 67.6% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company's stock valued at $2,583,000 after buying an additional 3,448 shares during the period. Kentucky Trust Co acquired a new position in shares of General Dynamics in the 4th quarter valued at $607,000. Hickory Point Bank & Trust bought a new position in shares of General Dynamics during the 4th quarter worth about $692,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of General Dynamics by 69.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company's stock worth $69,032,000 after acquiring an additional 107,095 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other General Dynamics 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 sale, the director now directly owns 11,175 shares in the company, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Company insiders own 1.52% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the stock. Baird R W lowered shares of General Dynamics from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. BTIG Research cut General Dynamics from a "buy" rating to a "neutral" rating in a report on Thursday, February 13th. Royal Bank of Canada decreased their price target on 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. JPMorgan Chase & Co. dropped their price objective on General Dynamics from $307.00 to $284.00 and set an "overweight" rating for the company in a research note on Thursday, January 30th. Finally, Robert W. Baird reissued a "neutral" rating and set a $283.00 price objective (down from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $297.71.
View Our Latest Research Report on GD
General Dynamics Trading Down 0.9 %
Shares of NYSE GD traded down $2.40 during midday trading on Friday, hitting $263.30. The stock had a trading volume of 3,313,608 shares, compared to its average volume of 1,250,520. The firm has a market cap of $71.18 billion, a P/E ratio of 19.30, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. General Dynamics Co. has a fifty-two week low of $239.87 and a fifty-two week high of $316.90. 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 company's 50-day simple moving average is $258.50 and its 200 day simple moving average is $277.79.
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 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%. Research analysts anticipate that General Dynamics Co. will post 14.83 EPS for the current year.
General Dynamics declared that its board has initiated a share repurchase plan on Wednesday, December 4th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.
General Dynamics Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be paid a $1.50 dividend. The ex-dividend date is Friday, April 11th. This is a boost from General Dynamics's previous quarterly dividend of $1.42. This represents a $6.00 dividend on an annualized basis and a yield of 2.28%. General Dynamics's dividend payout ratio (DPR) is presently 43.99%.
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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