Choreo LLC Sells 723 Shares of General Dynamics Co. (NYSE:GD)

Choreo LLC cut its stake in shares of General Dynamics Co. (NYSE:GD) by 8.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,465 shares of the aerospace company’s stock after selling 723 shares during the period. Choreo LLC’s holdings in General Dynamics were worth $1,966,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of GD. International Assets Investment Management LLC increased its position in shares of General Dynamics by 40,389.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock valued at $416,876,000 after purchasing an additional 1,376,065 shares during the last quarter. State Street Corp increased 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 valued at $3,307,612,000 after purchasing an additional 943,247 shares during the last quarter. Geode Capital Management LLC increased its position in shares of General Dynamics by 13.0% during the 3rd 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 during the last quarter. Two Sigma Advisers LP increased its position in shares of General Dynamics by 117.0% during the 3rd quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company’s stock valued at $259,469,000 after purchasing an additional 463,000 shares during the last quarter. Finally, Barclays PLC increased its position in shares of General Dynamics by 43.1% during the 3rd quarter. Barclays PLC now owns 942,485 shares of the aerospace company’s stock valued at $284,818,000 after purchasing an additional 283,972 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Performance

Shares of GD opened at $254.84 on Friday. The company has a market cap of $70.07 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 1.46 and a beta of 0.61. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average price of $265.06 and a 200-day moving average price of $285.87. General Dynamics Co. has a 12-month low of $247.01 and a 12-month high of $316.90.

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 net margin of 7.93% and a return on equity of 17.10%. As a group, equities analysts forecast that General Dynamics Co. will post 14.88 earnings per share for the current fiscal year.

General Dynamics announced that its Board of Directors has authorized a stock buyback plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were given a $1.42 dividend. The ex-dividend date was Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a yield of 2.23%. General Dynamics’s payout ratio is 41.64%.

Insider Buying and Selling

In related news, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was 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 filing with the SEC, which is available 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 stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the completion of the sale, the director now owns 11,175 shares of the company’s stock, valued at $2,857,224. The trade was a 13.85 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $300.00 target price (down from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Wells Fargo & Company decreased their price objective on General Dynamics from $279.00 to $276.00 and set an “equal weight” rating for the company in a report on Thursday, January 30th. Robert W. Baird reissued a “neutral” rating and issued a $283.00 price objective (down previously from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. Susquehanna decreased their price objective on General Dynamics from $315.00 to $300.00 and set a “positive” rating for the company in a report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $300.06.

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.