Lummis Asset Management LP Lowers Stock Holdings in General Dynamics Co. (NYSE:GD)

Lummis Asset Management LP cut its stake in shares of General Dynamics Co. (NYSE:GD - Free Report) by 25.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,680 shares of the aerospace company's stock after selling 2,688 shares during the quarter. General Dynamics makes up approximately 2.6% of Lummis Asset Management LP's holdings, making the stock its 12th biggest holding. Lummis Asset Management LP's holdings in General Dynamics were worth $2,024,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. MFA Wealth Advisors LLC boosted its position in shares of General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company's stock worth $25,000 after purchasing an additional 58 shares in the last quarter. Hara Capital LLC acquired a new stake in General Dynamics in the third quarter worth about $26,000. Lowe Wealth Advisors LLC acquired a new position in shares of General Dynamics during the third quarter valued at about $30,000. True Wealth Design LLC purchased a new position in shares of General Dynamics in the 3rd quarter valued at approximately $34,000. Finally, Coston McIsaac & Partners boosted its stake in General Dynamics by 22.8% in the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company's stock worth $53,000 after purchasing an additional 33 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of GD traded down $1.97 during mid-day trading on Friday, hitting $266.86. 1,543,957 shares of the company were exchanged, compared to its average volume of 1,419,689. The stock has a market cap of $73.38 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 1.38 and a beta of 0.61. General Dynamics Co. has a 1-year low of $247.36 and a 1-year high of $316.90. The company has a 50 day moving average of $272.86 and a 200-day moving average of $288.19. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts' consensus estimates of $3.48 by ($0.13). The firm had revenue of $11.67 billion during the quarter, compared to analysts' expectations of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.04 EPS. Analysts expect that General Dynamics Co. will post 13.81 EPS for the current fiscal year.

General Dynamics announced that its board has initiated a share repurchase plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a $1.42 dividend. The ex-dividend date is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.13%. General Dynamics's dividend payout ratio (DPR) is presently 43.26%.

Insider Buying and Selling

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the firm's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the sale, the vice president now owns 20,296 shares of the company's stock, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GD. Jefferies Financial Group reaffirmed a "hold" rating and issued a $300.00 price target (down previously from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Robert W. Baird reiterated a "neutral" rating and set a $283.00 price target (down previously from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. Wolfe Research cut General Dynamics from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, December 11th. Sanford C. Bernstein cut their price target on shares of General Dynamics from $343.00 to $331.00 and set a "market perform" rating on the stock in a report on Thursday, October 24th. Finally, Susquehanna decreased their price objective on shares of General Dynamics from $330.00 to $315.00 and set a "positive" rating for the company in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $304.53.

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.