General Dynamics Co. (NYSE:GD) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC lessened its stake in General Dynamics Co. (NYSE:GD - Free Report) by 99.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,554 shares of the aerospace company's stock after selling 1,375,918 shares during the quarter. International Assets Investment Management LLC's holdings in General Dynamics were worth $928,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Norway Savings Bank increased its holdings in General Dynamics by 4.6% in the fourth quarter. Norway Savings Bank now owns 3,983 shares of the aerospace company's stock valued at $1,049,000 after buying an additional 174 shares in the last quarter. Diversified Trust Co raised its stake in shares of General Dynamics by 2.7% during the 4th quarter. Diversified Trust Co now owns 2,221 shares of the aerospace company's stock worth $585,000 after buying an additional 58 shares during the period. Capital Market Strategies LLC increased its holdings in General Dynamics by 9.0% in the 4th quarter. Capital Market Strategies LLC now owns 1,492 shares of the aerospace company's stock worth $393,000 after acquiring an additional 123 shares in the last quarter. Central Pacific Bank Trust Division raised its position in General Dynamics by 6.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 1,683 shares of the aerospace company's stock worth $443,000 after acquiring an additional 100 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of General Dynamics by 17.5% in the third quarter. Principal Financial Group Inc. now owns 297,577 shares of the aerospace company's stock valued at $89,928,000 after purchasing an additional 44,387 shares during the period. Hedge funds and other institutional investors own 86.14% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GD shares. TD Cowen upgraded shares of General Dynamics to a "strong-buy" rating in a research report on Tuesday, October 8th. Barclays reduced their target price on General Dynamics from $330.00 to $305.00 and set an "overweight" rating for the company in a report on Monday. Wells Fargo & Company lowered their price target on General Dynamics from $295.00 to $279.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Seaport Res Ptn downgraded General Dynamics from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 11th. Finally, Sanford C. Bernstein lowered their target price on shares of General Dynamics from $343.00 to $331.00 and set a "market perform" rating on the stock in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, General Dynamics has an average rating of "Hold" and a consensus target price of $308.18.

Insider Activity at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of the company'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 completion of the sale, the vice president now directly owns 20,296 shares of the company's stock, valued at $5,701,349.36. This represents a 21.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.52% of the stock is currently owned by corporate insiders.

General Dynamics Stock Down 0.8 %

General Dynamics stock traded down $2.09 during trading on Friday, reaching $259.38. The stock had a trading volume of 1,708,667 shares, compared to its average volume of 1,511,261. General Dynamics Co. has a 52-week low of $247.36 and a 52-week high of $316.90. The business has a 50 day moving average price of $277.21 and a 200 day moving average price of $289.35. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The stock has a market cap of $71.32 billion, a PE ratio of 19.75, a P/E/G ratio of 1.62 and a beta of 0.61.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts' consensus estimates of $3.48 by ($0.13). The firm had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The business's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.04 EPS. On average, analysts predict that General Dynamics Co. will post 13.84 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics's payout ratio is 43.26%.

General Dynamics declared that its Board of Directors has initiated a share repurchase program 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 programs are usually an indication that the company's management believes its stock is undervalued.

General Dynamics Profile

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.