SevenBridge Financial Group LLC Sells 469 Shares of General Dynamics Co. (NYSE:GD)

SevenBridge Financial Group LLC reduced its holdings in shares of General Dynamics Co. (NYSE:GD) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,094 shares of the aerospace company’s stock after selling 469 shares during the period. SevenBridge Financial Group LLC’s holdings in General Dynamics were worth $2,337,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Empowered Funds LLC boosted its holdings in General Dynamics by 15.3% during 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 in the last quarter. Kentucky Trust Co acquired a new stake in General Dynamics in the 4th quarter valued at $607,000. Hickory Point Bank & Trust acquired a new stake in General Dynamics in the 4th quarter valued at $692,000. Wealth Enhancement Advisory Services LLC grew its position in General Dynamics by 69.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company’s stock valued at $69,032,000 after acquiring an additional 107,095 shares during the period. Finally, Atlas Legacy Advisors LLC acquired a new position in General Dynamics during the fourth quarter worth $550,000. Institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on GD. Vertical Research lowered shares of 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 report on Monday, January 6th. Royal Bank of Canada decreased their price objective on shares of General Dynamics from $290.00 to $280.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 30th. TD Cowen cut their target price on shares of General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. Baird R W lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $297.71.

General Dynamics Price Performance

GD opened at $273.93 on Wednesday. The company has a fifty day moving average price of $258.90 and a two-hundred day moving average price of $276.19. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The firm has a market capitalization of $74.06 billion, a PE ratio of 20.08, a P/E/G ratio of 1.69 and a beta of 0.59. General Dynamics Co. has a 52 week low of $239.87 and a 52 week high of $316.90.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing analysts’ consensus estimates 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, analysts anticipate that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Increases Dividend

The company 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 dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.00 dividend on an annualized basis and a yield of 2.19%. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s payout ratio is currently 43.99%.

General Dynamics declared that its Board of Directors has authorized a share buyback program 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 programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction dated 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 directly owns 11,175 shares in the company, valued at $2,857,224. This represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $272.11, for a total value of $7,499,895.82. Following the transaction, the senior vice president now owns 45,192 shares in the company, valued at $12,297,195.12. This trade represents a 37.88 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

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.