Kornitzer Capital Management Inc. KS Sells 1,241 Shares of General Dynamics Co. (NYSE:GD)

Kornitzer Capital Management Inc. KS lessened its holdings in shares of General Dynamics Co. (NYSE:GD - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 113,321 shares of the aerospace company's stock after selling 1,241 shares during the period. Kornitzer Capital Management Inc. KS's holdings in General Dynamics were worth $29,859,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. International Assets Investment Management LLC raised its stake in General Dynamics by 40,389.3% in the third quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company's stock valued at $416,876,000 after purchasing an additional 1,376,065 shares in the last quarter. State Street Corp increased its holdings in General Dynamics by 9.4% in the 3rd quarter. State Street Corp now owns 10,945,110 shares of the aerospace company's stock valued at $3,307,612,000 after buying an additional 943,247 shares during the period. Geode Capital Management LLC raised its position in shares of General Dynamics by 13.0% in the 3rd quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company's stock valued at $1,674,998,000 after buying an additional 638,342 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of General Dynamics by 117.0% during the 3rd quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company's stock worth $259,469,000 after acquiring an additional 463,000 shares during the period. Finally, Barclays PLC lifted its holdings in shares of General Dynamics by 43.1% during the 3rd quarter. Barclays PLC now owns 942,485 shares of the aerospace company's stock worth $284,818,000 after acquiring an additional 283,972 shares during the period. 86.14% of the stock is owned by institutional investors.

General Dynamics Trading Down 1.3 %

Shares of NYSE:GD traded down $3.19 during mid-day trading on Friday, reaching $243.02. 1,947,405 shares of the company's stock were exchanged, compared to its average volume of 1,735,765. The firm has a market capitalization of $65.70 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 1.68 and a beta of 0.61. General Dynamics Co. has a twelve month low of $239.87 and a twelve month high of $316.90. The business's fifty day moving average price is $259.68 and its 200-day moving average price is $282.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37.

General Dynamics (NYSE:GD - Get Free Report) last announced its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 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%. On average, research analysts predict that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics announced that its Board of Directors has approved a share buyback plan on Wednesday, December 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign 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. Shareholders of record on Friday, January 17th were given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Friday, January 17th. General Dynamics's dividend payout ratio is presently 41.64%.

Insiders Place Their Bets

In other news, Director Laura J. Schumacher sold 1,796 shares of the company's 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 of the company's stock, valued at approximately $2,857,224. This represents a 13.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.52% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on GD shares. Vertical Research downgraded shares of General Dynamics from a "buy" rating to a "hold" rating and lowered their price objective for the company from $352.00 to $290.00 in a research report on Monday, January 6th. Barclays lowered their price target on General Dynamics from $305.00 to $285.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Susquehanna reduced their price objective on General Dynamics from $315.00 to $300.00 and set a "positive" rating on the stock in a research note on Thursday, January 30th. JPMorgan Chase & Co. decreased their target price on General Dynamics from $307.00 to $284.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. Finally, TD Cowen dropped their target price on shares of General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. One research 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 stock. According to data from MarketBeat.com, General Dynamics has an average rating of "Hold" and a consensus target price of $298.59.

General Dynamics Company 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.