General Dynamics Co. (NYSE:GD) Holdings Lowered by Weybosset Research & Management LLC

Weybosset Research & Management LLC reduced its position in General Dynamics Co. (NYSE:GD) by 0.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 43,485 shares of the aerospace company’s stock after selling 306 shares during the period. General Dynamics accounts for approximately 3.9% of Weybosset Research & Management LLC’s portfolio, making the stock its 9th largest holding. Weybosset Research & Management LLC’s holdings in General Dynamics were worth $11,458,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norway Savings Bank grew its position in shares of General Dynamics by 4.6% in the fourth quarter. Norway Savings Bank now owns 3,983 shares of the aerospace company’s stock valued at $1,049,000 after purchasing an additional 174 shares in the last quarter. Diversified Trust Co grew its holdings in General Dynamics by 2.7% during the 4th quarter. Diversified Trust Co now owns 2,221 shares of the aerospace company’s stock valued at $585,000 after buying an additional 58 shares in the last quarter. Capital Market Strategies LLC increased its position in shares of General Dynamics by 9.0% during the fourth quarter. Capital Market Strategies LLC now owns 1,492 shares of the aerospace company’s stock valued at $393,000 after buying an additional 123 shares during the period. Central Pacific Bank Trust Division lifted its holdings in shares of General Dynamics by 6.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 1,683 shares of the aerospace company’s stock worth $443,000 after buying an additional 100 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in General Dynamics by 17.5% during the third quarter. Principal Financial Group Inc. now owns 297,577 shares of the aerospace company’s stock valued at $89,928,000 after acquiring an additional 44,387 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GD. Seaport Res Ptn lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Vertical Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating and dropped their target price for the company from $352.00 to $290.00 in a research report on Monday. Citigroup raised their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company cut their target price on shares of General Dynamics from $295.00 to $279.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $308.18.

General Dynamics Trading Down 0.9 %

Shares of GD traded down $2.25 during mid-day trading on Friday, hitting $259.22. 280,072 shares of the company’s stock traded hands, compared to its average volume of 1,268,996. The business’s 50-day moving average price is $277.21 and its 200-day moving average price is $289.35. General Dynamics Co. has a 1 year low of $247.36 and a 1 year high of $316.90. The firm has a market capitalization of $71.28 billion, a P/E ratio of 19.74, a PEG ratio of 1.62 and a beta of 0.61. 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 posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. During the same period in the prior year, the business posted $3.04 earnings per share. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, sell-side analysts forecast that General Dynamics Co. will post 13.84 EPS for the current fiscal year.

General Dynamics Dividend Announcement

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

General Dynamics announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 4th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 20,296 shares of the company’s stock, 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 SEC, which can be accessed through this hyperlink. 1.52% of the stock is owned by insiders.

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.