Sanctuary Advisors LLC lessened its position in General Dynamics Co. (NYSE:GD - Free Report) by 43.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 54,094 shares of the aerospace company's stock after selling 41,717 shares during the period. Sanctuary Advisors LLC's holdings in General Dynamics were worth $13,898,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in GD. MFA Wealth Advisors LLC increased its holdings 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 valued at $25,000 after purchasing an additional 58 shares in the last quarter. Financial Life Planners purchased a new position in shares of General Dynamics in the 4th quarter valued at about $25,000. Hara Capital LLC purchased a new position in shares of General Dynamics in the 3rd quarter valued at about $26,000. Sugar Maple Asset Management LLC purchased a new position in shares of General Dynamics in the 4th quarter valued at about $28,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of General Dynamics in the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 86.14% of the company's stock.
GD has been the subject of a number of research analyst reports. Vertical Research downgraded shares of General Dynamics from a "buy" rating to a "hold" rating and cut their price target for the company from $352.00 to $290.00 in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Dynamics from $303.00 to $295.00 and set a "hold" rating for the company in a report on Thursday, January 2nd. Wolfe Research downgraded shares of General Dynamics from an "outperform" rating to a "peer perform" rating in a report on Wednesday, December 11th. Robert W. Baird restated a "neutral" rating and set a $283.00 target price (down from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. 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 equities research analyst has rated the stock with a sell rating, twelve have given 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.com, General Dynamics currently has a consensus rating of "Hold" and a consensus price target of $298.59.
View Our Latest Stock Analysis on GD
In other news, Director Laura J. Schumacher sold 1,796 shares of General Dynamics 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 trade represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the sale, the vice president now owns 20,296 shares in the company, valued at $5,701,349.36. This represents a 21.44 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by corporate insiders.
GD opened at $242.46 on Wednesday. The company's 50 day simple moving average is $261.40 and its 200 day simple moving average is $283.72. 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 Co. has a 1 year low of $239.87 and a 1 year high of $316.90. The stock has a market capitalization of $66.67 billion, a PE ratio of 17.78, a P/E/G ratio of 1.61 and a beta of 0.61.
General Dynamics (NYSE:GD - Get Free Report) last released its 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 return on equity of 17.10% and a net margin of 7.93%. As a group, sell-side analysts expect that General Dynamics Co. will post 14.84 EPS for the current year.
The firm also recently declared 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. The ex-dividend date of this dividend was Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a yield of 2.34%. General Dynamics's dividend payout ratio (DPR) is 41.64%.
General Dynamics announced that its board has initiated a share repurchase plan on Wednesday, December 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.
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.
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