Saratoga Research & Investment Management Lowers Holdings in General Dynamics Co. (NYSE:GD)

Saratoga Research & Investment Management lessened its stake in General Dynamics Co. (NYSE:GD - Free Report) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,952 shares of the aerospace company's stock after selling 8,338 shares during the period. General Dynamics accounts for approximately 3.1% of Saratoga Research & Investment Management's portfolio, making the stock its 12th largest position. Saratoga Research & Investment Management owned approximately 0.08% of General Dynamics worth $61,381,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. O Shaughnessy Asset Management LLC increased its holdings in shares of General Dynamics by 1.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 58,787 shares of the aerospace company's stock valued at $15,490,000 after acquiring an additional 718 shares during the period. Holowesko Partners Ltd. grew its position in General Dynamics by 37.7% during the 4th quarter. Holowesko Partners Ltd. now owns 59,920 shares of the aerospace company's stock worth $15,788,000 after purchasing an additional 16,400 shares during the last quarter. United Bank increased its stake in General Dynamics by 21.1% in the fourth quarter. United Bank now owns 6,992 shares of the aerospace company's stock valued at $1,842,000 after purchasing an additional 1,216 shares during the period. Schroder Investment Management Group raised its holdings in shares of General Dynamics by 6.3% in the fourth quarter. Schroder Investment Management Group now owns 22,335 shares of the aerospace company's stock valued at $5,885,000 after buying an additional 1,324 shares during the last quarter. Finally, Strategy Asset Managers LLC boosted its stake in shares of General Dynamics by 0.3% during the fourth quarter. Strategy Asset Managers LLC now owns 23,282 shares of the aerospace company's stock worth $6,135,000 after buying an additional 74 shares during the period. Institutional investors and hedge funds own 86.14% of the company's stock.

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Insiders Place Their Bets

In related news, Director Laura J. Schumacher sold 1,796 shares of the company's stock in a transaction that occurred 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 transaction, the director now owns 11,175 shares of the company's stock, valued at approximately $2,857,224. This represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the completion of the sale, the senior vice president now directly owns 45,192 shares of the company's stock, valued at $12,297,195.12. The trade was a 37.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on GD shares. Baird R W downgraded General Dynamics from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft decreased their price target on General Dynamics from $303.00 to $295.00 and set a "hold" rating for the company in a report on Thursday, January 2nd. JPMorgan Chase & Co. dropped their price objective on shares of General Dynamics from $307.00 to $284.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Susquehanna lifted their target price on shares of General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a report on Wednesday. Finally, 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 for the company in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $298.59.

General Dynamics Price Performance

Shares of General Dynamics stock traded down $19.68 on Friday, hitting $249.94. The company's stock had a trading volume of 3,232,146 shares, compared to its average volume of 1,323,356. The company has a market capitalization of $67.08 billion, a P/E ratio of 18.32, a price-to-earnings-growth ratio of 1.69 and a beta of 0.43. General Dynamics Co. has a 52-week low of $239.87 and a 52-week high of $316.90. The firm has a fifty day moving average price of $258.75 and a 200-day moving average price of $275.74. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results 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 net margin of 7.93% and a return on equity of 17.10%. On average, equities research analysts expect that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Friday, April 11th. This is a boost from General Dynamics's previous quarterly dividend of $1.42. General Dynamics's dividend payout ratio is 43.99%.

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.