General Dynamics Co. (NYSE:GD) Shares Sold by Stonebridge Capital Management Inc.

Stonebridge Capital Management Inc. lessened its holdings in General Dynamics Co. (NYSE:GD) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,648 shares of the aerospace company’s stock after selling 200 shares during the quarter. General Dynamics comprises approximately 2.8% of Stonebridge Capital Management Inc.’s investment portfolio, making the stock its 8th largest holding. Stonebridge Capital Management Inc.’s holdings in General Dynamics were worth $6,758,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fifth Third Wealth Advisors LLC raised its position in shares of General Dynamics by 67.6% in the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock worth $2,583,000 after acquiring an additional 3,448 shares during the period. Olstein Capital Management L.P. increased its stake 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 worth $4,533,000 after buying an additional 4,000 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of General Dynamics by 10.0% during the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock valued at $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% during the fourth 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 in the last quarter. Finally, Lummis Asset Management LP raised its stake in General Dynamics by 32.6% in 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. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

NYSE:GD opened at $265.89 on Thursday. The firm has a market capitalization of $73.11 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 1.38 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’s fifty day moving average price is $275.30 and its 200 day moving average price is $288.61. General Dynamics Co. has a 12 month low of $247.36 and a 12 month high of $316.90.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). The business had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. General Dynamics’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.04 EPS. On average, sell-side analysts anticipate that General Dynamics Co. will post 13.81 earnings per share 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 issued a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Friday, January 17th. General Dynamics’s payout ratio is currently 43.26%.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GD. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Wolfe Research lowered shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 11th. Royal Bank of Canada cut General Dynamics from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $330.00 to $290.00 in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft dropped their target price on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Finally, Robert W. Baird reissued a “neutral” rating and issued a $283.00 price objective (down previously from $345.00) on shares of General Dynamics in a report on Tuesday. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $304.53.

Insider Buying and Selling

In related news, VP Christopher J. Brady sold 5,540 shares of the 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 completion of the sale, the vice president now owns 20,296 shares in the company, valued at $5,701,349.36. This 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 the SEC website. 1.60% of the stock is currently owned by company 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.