Insight Inv LLC Sells 296 Shares of General Dynamics Co. (NYSE:GD)

Insight Inv LLC lessened its position in General Dynamics Co. (NYSE:GD) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,599 shares of the aerospace company’s stock after selling 296 shares during the quarter. General Dynamics makes up about 1.4% of Insight Inv LLC’s investment portfolio, making the stock its 28th largest holding. Insight Inv LLC’s holdings in General Dynamics were worth $2,002,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GD. MBB Public Markets I LLC purchased a new position in shares of General Dynamics during the second quarter valued at approximately $4,911,000. Legal & General Group Plc increased its position in General Dynamics by 6.4% during the 2nd quarter. Legal & General Group Plc now owns 1,477,993 shares of the aerospace company’s stock valued at $428,825,000 after buying an additional 88,489 shares in the last quarter. Scientech Research LLC boosted its holdings in General Dynamics by 363.4% in the second quarter. Scientech Research LLC now owns 4,898 shares of the aerospace company’s stock worth $1,421,000 after acquiring an additional 3,841 shares in the last quarter. Susquehanna Fundamental Investments LLC grew its stake in shares of General Dynamics by 520.1% in the second quarter. Susquehanna Fundamental Investments LLC now owns 77,742 shares of the aerospace company’s stock worth $22,556,000 after acquiring an additional 65,204 shares during the last quarter. Finally, Kathmere Capital Management LLC grew its stake in shares of General Dynamics by 4.2% in the second quarter. Kathmere Capital Management LLC now owns 3,242 shares of the aerospace company’s stock worth $941,000 after acquiring an additional 130 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GD. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Robert W. Baird reiterated a “neutral” rating and issued a $283.00 target price (down previously from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. Jefferies Financial Group reiterated a “hold” rating and set a $300.00 price target (down previously from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Citigroup upped their price objective on General Dynamics from $354.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft cut their target price on General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has assigned 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 a consensus price target of $304.88.

General Dynamics Trading Down 0.9 %

NYSE:GD opened at $266.22 on Friday. The firm has a market capitalization of $73.20 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 1.43 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The business has a fifty day moving average price of $269.27 and a 200-day moving average price of $287.64. General Dynamics Co. has a one year low of $257.26 and a one year high of $316.90.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the business earned $3.04 EPS. Sell-side analysts forecast that General Dynamics Co. will post 13.66 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s dividend payout ratio is currently 43.26%.

General Dynamics announced that its board has approved a share buyback plan on Wednesday, December 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

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