Spectrum Asset Management Inc. NB CA Sells 13,795 Shares of General Dynamics Co. (NYSE:GD)

Spectrum Asset Management Inc. NB CA cut its stake in shares of General Dynamics Co. (NYSE:GD) by 84.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,597 shares of the aerospace company’s stock after selling 13,795 shares during the quarter. Spectrum Asset Management Inc. NB CA’s holdings in General Dynamics were worth $684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fifth Third Wealth Advisors LLC boosted its stake in shares of General Dynamics by 67.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock valued at $2,583,000 after purchasing an additional 3,448 shares during the period. Olstein Capital Management L.P. boosted its position in General Dynamics by 36.4% during the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock valued at $4,533,000 after buying an additional 4,000 shares during the period. Oppenheimer & Co. Inc. grew its holdings in General Dynamics by 10.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock worth $11,204,000 after acquiring an additional 3,363 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of 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, Lummis Asset Management LP raised its stake in shares of General Dynamics by 32.6% during the third quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock valued at $3,133,000 after acquiring an additional 2,551 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on GD. Citigroup boosted their price target on General Dynamics from $354.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft reduced 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. Vertical Research lowered General Dynamics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $352.00 to $290.00 in a research note on Monday, January 6th. Royal Bank of Canada reduced 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 report on Thursday, January 30th. Finally, Susquehanna dropped their target price on shares of General Dynamics from $315.00 to $300.00 and set a “positive” rating for the company in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $300.06.

General Dynamics Trading Down 1.2 %

General Dynamics stock opened at $255.41 on Friday. General Dynamics Co. has a 12 month low of $247.01 and a 12 month high of $316.90. 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 business’s fifty day simple moving average is $265.60 and its two-hundred day simple moving average is $286.09. The company has a market capitalization of $70.23 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 1.46 and a beta of 0.61.

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 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%. As a group, equities analysts predict that General Dynamics Co. will post 14.88 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors 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 yield of 2.22%. General Dynamics’s payout ratio is currently 41.64%.

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

Insider Buying and Selling at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Laura J. Schumacher sold 1,796 shares of General Dynamics stock in a transaction that occurred on 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. This represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

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.