17 Capital Partners LLC Cuts Holdings in General Dynamics Co. (NYSE:GD)

17 Capital Partners LLC cut its stake in shares of General Dynamics Co. (NYSE:GD) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,393 shares of the aerospace company’s stock after selling 255 shares during the quarter. 17 Capital Partners LLC’s holdings in General Dynamics were worth $1,421,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Coston McIsaac & Partners boosted its stake in shares of General Dynamics by 22.8% during the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after purchasing an additional 33 shares during the last quarter. Global X Japan Co. Ltd. boosted its position in shares of General Dynamics by 2.3% in the third quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock worth $448,000 after acquiring an additional 33 shares during the last quarter. Grove Bank & Trust raised its stake in General Dynamics by 10.6% during the third quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after purchasing an additional 34 shares during the period. Trueblood Wealth Management LLC grew its stake in shares of General Dynamics by 1.6% during the 3rd quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock valued at $672,000 after buying an additional 34 shares during the period. Finally, Jeppson Wealth Management LLC raised its position in shares of General Dynamics by 3.8% in the 3rd quarter. Jeppson Wealth Management LLC now owns 955 shares of the aerospace company’s stock worth $289,000 after buying an additional 35 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Down 0.3 %

GD stock opened at $254.84 on Friday. The firm’s 50-day moving average is $264.47 and its two-hundred day moving average is $285.62. 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 company has a market capitalization of $70.07 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 1.61 and a beta of 0.61. General Dynamics Co. has a 52 week low of $247.01 and a 52 week high of $316.90.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 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, analysts forecast that General Dynamics Co. will post 14.84 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

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

General Dynamics announced that its board has initiated a stock repurchase program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Baird R W lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Wolfe Research lowered General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. TD Cowen decreased their target price on shares of General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. Barclays decreased their price objective on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Finally, UBS Group decreased their price target on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $300.06.

Insider Activity

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 of the company’s stock, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 completion of the sale, the director now owns 11,175 shares of the company’s stock, valued at $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.

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.