Xponance Inc. Sells 1,053 Shares of General Dynamics Co. (NYSE:GD)

Xponance Inc. trimmed its stake in shares of General Dynamics Co. (NYSE:GD - Free Report) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,294 shares of the aerospace company's stock after selling 1,053 shares during the quarter. Xponance Inc.'s holdings in General Dynamics were worth $8,509,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in GD. State Street Corp boosted its stake in General Dynamics by 9.4% during 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 acquiring an additional 943,247 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of General Dynamics in the 4th quarter worth about $197,238,000. Geode Capital Management LLC lifted 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 worth $1,674,998,000 after buying an additional 638,342 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of General Dynamics by 117.0% in the 3rd quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company's stock worth $259,469,000 after buying an additional 463,000 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of General Dynamics by 43.1% in the 3rd quarter. Barclays PLC now owns 942,485 shares of the aerospace company's stock worth $284,818,000 after buying an additional 283,972 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

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Insider Activity

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GD shares. Wells Fargo & Company raised their price target on shares of General Dynamics from $244.00 to $261.00 and gave the stock an "equal weight" rating in a research report on Friday, March 7th. Jefferies Financial Group restated a "hold" rating and issued a $300.00 price target (down from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. JPMorgan Chase & Co. cut 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 report on Thursday, January 30th. Susquehanna cut their price objective on shares of General Dynamics from $315.00 to $300.00 and set a "positive" rating on the stock in a research report on Thursday, January 30th. Finally, Royal Bank of Canada cut their price objective on shares of General Dynamics from $290.00 to $280.00 and set a "sector perform" rating on the stock in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, General Dynamics presently has an average rating of "Hold" and an average target price of $297.71.

General Dynamics Price Performance

Shares of GD traded down $2.40 during mid-day trading on Friday, hitting $263.30. The company's stock had a trading volume of 3,313,608 shares, compared to its average volume of 1,250,520. The firm has a 50-day moving average price of $258.50 and a 200 day moving average price of $277.79. The stock has a market capitalization of $71.18 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 1.69 and a beta of 0.59. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. General Dynamics Co. has a fifty-two week low of $239.87 and a fifty-two week high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last announced 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, research analysts predict that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

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

General Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, April 11th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.28%. This is a positive change from General Dynamics's previous quarterly dividend of $1.42. General Dynamics's payout ratio is currently 43.99%.

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.