1,090 Shares in General Dynamics Co. (NYSE:GD) Acquired by Redmond Asset Management LLC

Redmond Asset Management LLC acquired a new stake in General Dynamics Co. (NYSE:GD - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,090 shares of the aerospace company's stock, valued at approximately $287,000.

Several other institutional investors have also added to or reduced their stakes in the business. Hara Capital LLC purchased a new position in shares of General Dynamics during the third quarter valued at about $26,000. Financial Life Planners purchased a new position in shares of General Dynamics in the fourth quarter worth approximately $25,000. Heck Capital Advisors LLC purchased a new stake in shares of General Dynamics in the 4th quarter worth $28,000. Sugar Maple Asset Management LLC bought a new stake in General Dynamics during the 4th quarter worth approximately $28,000. Finally, True Wealth Design LLC bought a new stake in General Dynamics during the third quarter valued at about $34,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Laura J. Schumacher sold 1,796 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the sale, the director now directly owns 11,175 shares in the company, valued at $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by company insiders.

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Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Wells Fargo & Company reduced their price target on shares of General Dynamics from $276.00 to $244.00 and set an "equal weight" rating on the stock in a report on Wednesday. Vertical Research cut General Dynamics from a "buy" rating to a "hold" rating and reduced their target price for the stock from $352.00 to $290.00 in a report on Monday, January 6th. Baird R W lowered General Dynamics from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Wolfe Research downgraded General Dynamics from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on General Dynamics from $303.00 to $295.00 and set a "hold" rating for the company in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, General Dynamics currently has a consensus rating of "Hold" and an average target price of $296.71.

General Dynamics Stock Performance

Shares of NYSE GD traded down $0.99 during mid-day trading on Wednesday, hitting $248.92. 1,372,032 shares of the company were exchanged, compared to its average volume of 1,737,952. General Dynamics Co. has a 1-year low of $239.87 and a 1-year high of $316.90. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The stock has a 50 day simple moving average of $258.97 and a 200-day simple moving average of $281.88. The firm has a market cap of $67.30 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 1.69 and a beta of 0.61.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (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, sell-side analysts forecast that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics announced that its Board of Directors has authorized a stock buyback plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 17th were issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Friday, January 17th. General Dynamics's dividend payout ratio (DPR) is 41.64%.

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.