Beaumont Asset Management L.L.C. Sells 110 Shares of General Dynamics Co. (NYSE:GD)

Beaumont Asset Management L.L.C. reduced its position in General Dynamics Co. (NYSE:GD) by 1.8% in the 4th quarter, Holdings Channel reports. The firm owned 5,917 shares of the aerospace company’s stock after selling 110 shares during the quarter. General Dynamics comprises approximately 0.9% of Beaumont Asset Management L.L.C.’s investment portfolio, making the stock its 20th biggest position. Beaumont Asset Management L.L.C.’s holdings in General Dynamics were worth $1,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fifth Third Wealth Advisors LLC boosted 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 buying an additional 3,448 shares in the last quarter. Olstein Capital Management L.P. lifted its holdings in shares of General Dynamics by 36.4% during the third quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock valued at $4,533,000 after acquiring an additional 4,000 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of General Dynamics by 10.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock valued at $11,204,000 after purchasing an additional 3,363 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of General Dynamics by 69.1% in 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 during the last quarter. Finally, Lummis Asset Management LP lifted its holdings in General Dynamics by 32.6% during the 3rd quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock valued at $3,133,000 after purchasing an additional 2,551 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the sale, the vice president now directly owns 20,296 shares in the company, valued at $5,701,349.36. This represents a 21.44 % 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, Director Laura J. Schumacher sold 1,796 shares of the firm’s 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 sale, the director now directly owns 11,175 shares in the company, valued at approximately $2,857,224. This represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

General Dynamics Stock Performance

GD stock opened at $254.84 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a twelve month low of $247.01 and a twelve month high of $316.90. The business’s fifty day moving average is $265.06 and its 200-day moving average is $285.87. The company has a market cap of $70.07 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 1.46 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share 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%. Equities research analysts forecast that General Dynamics Co. will post 14.88 EPS for the current year.

General Dynamics announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Friday, January 17th. General Dynamics’s dividend payout ratio is currently 41.64%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Seaport Res Ptn lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft dropped their price target on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Susquehanna reduced their price objective on General Dynamics from $315.00 to $300.00 and set a “positive” rating on the stock in a research note on Thursday, January 30th. Royal Bank of Canada lowered their target price on General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a research note on Thursday, January 30th. Finally, Wolfe Research lowered shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, General Dynamics presently has a consensus rating of “Hold” and a consensus price target of $300.06.

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.