Tritonpoint Wealth LLC Sells 304 Shares of General Dynamics Co. (NYSE:GD)

Tritonpoint Wealth LLC trimmed its stake in shares of General Dynamics Co. (NYSE:GD) by 8.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,331 shares of the aerospace company’s stock after selling 304 shares during the quarter. Tritonpoint Wealth LLC’s holdings in General Dynamics were worth $878,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in General Dynamics by 0.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,205,330 shares of the aerospace company’s stock valued at $4,292,851,000 after buying an additional 109,618 shares during the period. State Street Corp boosted its position in shares of General Dynamics by 9.4% during the 3rd quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock worth $3,307,612,000 after acquiring an additional 943,247 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in General Dynamics by 2.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock valued at $2,366,124,000 after acquiring an additional 189,904 shares during the last quarter. Geode Capital Management LLC raised its position in General Dynamics by 13.0% during the third quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock valued at $1,674,998,000 after purchasing an additional 638,342 shares in the last quarter. Finally, FMR LLC lifted its stake in General Dynamics by 0.5% during the third quarter. FMR LLC now owns 4,940,537 shares of the aerospace company’s stock worth $1,493,030,000 after purchasing an additional 24,464 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the sale, the vice president now owns 20,296 shares in the company, valued at $5,701,349.36. The trade was a 21.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and issued a $300.00 price target (down previously from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. Vertical Research downgraded General Dynamics from a “buy” rating to a “hold” rating and lowered their target price for the stock from $352.00 to $290.00 in a research note on Monday, January 6th. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Wells Fargo & Company lowered their price objective on shares of General Dynamics from $279.00 to $276.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $301.24.

General Dynamics Price Performance

General Dynamics stock opened at $257.17 on Monday. The stock’s 50 day moving average is $267.05 and its 200 day moving average is $286.79. General Dynamics Co. has a one year low of $247.01 and a one year high of $316.90. The firm has a market cap of $70.71 billion, a P/E ratio of 18.85, a P/E/G ratio of 1.34 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a return on equity of 17.08% and a net margin of 7.93%. As a group, research analysts expect that General Dynamics Co. will post 15.92 EPS for the current year.

General Dynamics announced that its board has authorized a stock repurchase plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a dividend of $1.42 per share. The ex-dividend date is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a yield of 2.21%. General Dynamics’s payout ratio is currently 41.64%.

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.