General Dynamics Co. (NYSE:GD) Shares Sold by Graypoint LLC

Graypoint LLC reduced its stake in General Dynamics Co. (NYSE:GD) by 10.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,159 shares of the aerospace company’s stock after selling 246 shares during the period. Graypoint LLC’s holdings in General Dynamics were worth $569,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GD. International Assets Investment Management LLC raised its holdings in shares of General Dynamics by 40,389.3% in 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 buying an additional 1,376,065 shares during the period. State Street Corp grew its position in General Dynamics by 9.4% in 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 acquiring an additional 943,247 shares in the last quarter. Geode Capital Management LLC increased its stake 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 worth $1,674,998,000 after purchasing an additional 638,342 shares during the period. Two Sigma Advisers LP lifted its position in shares of General Dynamics by 117.0% during the third quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company’s stock worth $259,469,000 after purchasing an additional 463,000 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of General Dynamics by 2,189.3% in the second quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock valued at $108,572,000 after purchasing an additional 357,861 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the sale, the vice president now directly owns 20,296 shares of the company’s stock, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.52% of the company’s stock.

General Dynamics Stock Down 0.8 %

Shares of NYSE GD opened at $259.38 on Friday. The stock has a market cap of $71.32 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. General Dynamics Co. has a 52-week low of $247.36 and a 52-week high of $316.90. The business has a 50-day moving average price of $276.54 and a 200 day moving average price of $289.03. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The business had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter last year, the business posted $3.04 earnings per share. The business’s revenue was up 10.4% on a year-over-year basis. Equities research analysts forecast that General Dynamics Co. will post 13.84 earnings per share for the current year.

General Dynamics announced that its Board of Directors has authorized a stock buyback plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.19%. General Dynamics’s payout ratio is 43.26%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GD. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Wolfe Research cut General Dynamics from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 11th. Wells Fargo & Company lowered their target price on General Dynamics from $295.00 to $279.00 and set an “equal weight” rating for the company in a research note on Wednesday. Citigroup increased their price target on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, The Goldman Sachs Group lowered shares of General Dynamics from a “neutral” rating to a “sell” rating and cut their target price for the stock from $283.00 to $245.00 in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $308.18.

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.