General Dynamics Co. (NYSE:GD) Shares Sold by Ieq Capital LLC

Ieq Capital LLC decreased its position in shares of General Dynamics Co. (NYSE:GD - Free Report) by 7.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,921 shares of the aerospace company's stock after selling 2,140 shares during the quarter. Ieq Capital LLC's holdings in General Dynamics were worth $7,093,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. lifted its holdings in General Dynamics by 22.7% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 703 shares of the aerospace company's stock worth $212,000 after buying an additional 130 shares during the period. Foundations Investment Advisors LLC raised its position in shares of General Dynamics by 6.2% in the 3rd quarter. Foundations Investment Advisors LLC now owns 2,168 shares of the aerospace company's stock worth $655,000 after acquiring an additional 126 shares in the last quarter. Eastern Bank purchased a new stake in shares of General Dynamics during the 3rd quarter worth $447,000. Waldron Private Wealth LLC boosted its position in General Dynamics by 10.2% during the third quarter. Waldron Private Wealth LLC now owns 768 shares of the aerospace company's stock valued at $232,000 after purchasing an additional 71 shares in the last quarter. Finally, Private Advisor Group LLC grew its stake in General Dynamics by 8.2% in the third quarter. Private Advisor Group LLC now owns 18,167 shares of the aerospace company's stock valued at $5,490,000 after purchasing an additional 1,374 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Stock Performance

NYSE GD traded down $3.19 on Friday, hitting $243.02. 1,947,405 shares of the company's stock traded hands, compared to its average volume of 1,735,765. The firm's 50-day moving average price is $260.08 and its two-hundred day moving average price is $282.84. The firm has a market capitalization of $65.70 billion, a PE ratio of 17.82, a P/E/G ratio of 1.68 and a beta of 0.61. 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 1-year low of $239.87 and a 1-year high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last posted its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, analysts expect that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics announced that its board has approved a share buyback plan on Wednesday, December 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are undervalued.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 2.34%. The ex-dividend date was Friday, January 17th. General Dynamics's dividend payout ratio (DPR) is 41.64%.

Insider Activity at General Dynamics

In related news, Director Laura J. Schumacher sold 1,796 shares of the firm's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the sale, the director now 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.52% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Baird R W cut shares of General Dynamics from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Susquehanna decreased their target price on shares of General Dynamics from $315.00 to $300.00 and set a "positive" rating for the company in a research report on Thursday, January 30th. Royal Bank of Canada cut their price target on shares of General Dynamics from $290.00 to $280.00 and set a "sector perform" rating on the stock in a report on Thursday, January 30th. Robert W. Baird reiterated a "neutral" rating and set a $283.00 price objective (down previously from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. Finally, Wells Fargo & Company dropped their target price on General Dynamics from $279.00 to $276.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target 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.