General Dynamics Co. (NYSE:GD) Shares Sold by Gray Wealth Management Inc.

Gray Wealth Management Inc. cut its holdings in shares of General Dynamics Co. (NYSE:GD) by 11.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,568 shares of the aerospace company’s stock after selling 205 shares during the period. Gray Wealth Management Inc.’s holdings in General Dynamics were worth $413,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of GD. Empowered Funds LLC lifted its position in General Dynamics by 15.3% in the fourth quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock valued at $2,553,000 after purchasing an additional 1,283 shares during the period. Fifth Third Wealth Advisors LLC grew its stake in General Dynamics by 67.6% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock valued at $2,583,000 after acquiring an additional 3,448 shares during the last quarter. Kentucky Trust Co purchased a new position in shares of General Dynamics during the 4th quarter worth approximately $607,000. Hickory Point Bank & Trust purchased a new position in General Dynamics during the fourth quarter worth $692,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in General Dynamics by 69.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company’s stock worth $69,032,000 after purchasing an additional 107,095 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on GD. William Blair downgraded General Dynamics from an “outperform” rating to a “market perform” rating in a research report on Friday, February 21st. Jefferies Financial Group reiterated a “hold” rating and issued a $300.00 price target (down from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. UBS Group lowered their price target on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Robert W. Baird reaffirmed a “neutral” rating and issued a $283.00 target price (down from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. Finally, Citigroup decreased their price target on General Dynamics from $360.00 to $335.00 and set a “buy” rating for the company in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $297.71.

Insiders Place Their Bets

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of General Dynamics stock in a transaction dated Friday, January 31st. The stock was 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. The trade was a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the completion of the transaction, the senior vice president now owns 45,192 shares in the company, valued at $12,297,195.12. This represents a 37.88 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.52% of the company’s stock.

General Dynamics Stock Up 0.4 %

Shares of GD stock opened at $262.19 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $70.88 billion, a price-to-earnings ratio of 19.22, a P/E/G ratio of 1.69 and a beta of 0.59. General Dynamics Co. has a 12-month low of $239.87 and a 12-month high of $316.90. The firm has a fifty day moving average of $257.89 and a 200-day moving average of $278.77.

General Dynamics (NYSE:GD) last released its quarterly earnings data 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 research analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s dividend payout ratio (DPR) is 43.99%.

General Dynamics declared that its Board of Directors has initiated a stock repurchase program on Wednesday, December 4th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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.