Dakota Wealth Management Sells 394 Shares of General Dynamics Co. (NYSE:GD)

Dakota Wealth Management cut its stake in General Dynamics Co. (NYSE:GD) by 7.5% in the 4th quarter, Holdings Channel reports. The fund owned 4,836 shares of the aerospace company’s stock after selling 394 shares during the quarter. Dakota Wealth Management’s holdings in General Dynamics were worth $1,274,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GD. Insigneo Advisory Services LLC grew its position in General Dynamics by 2.9% in the second quarter. Insigneo Advisory Services LLC now owns 2,914 shares of the aerospace company’s stock worth $833,000 after acquiring an additional 83 shares in the last quarter. Fred Alger Management LLC boosted its position in General Dynamics by 8.9% during the second quarter. Fred Alger Management LLC now owns 8,351 shares of the aerospace company’s stock valued at $2,423,000 after buying an additional 679 shares during the period. Ameriprise Financial Inc. boosted its position in General Dynamics by 2.4% during the second quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock valued at $601,756,000 after buying an additional 47,915 shares during the period. Drucker Wealth 3.0 LLC purchased a new stake in General Dynamics during the second quarter valued at about $900,000. Finally, Daymark Wealth Partners LLC boosted its position in General Dynamics by 2.1% during the second quarter. Daymark Wealth Partners LLC now owns 8,924 shares of the aerospace company’s stock valued at $2,589,000 after buying an additional 183 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the sale, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.52% of the stock is owned by insiders.

General Dynamics Price Performance

Shares of GD opened at $268.07 on Friday. The company has a market capitalization of $73.71 billion, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 1.44 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. The firm has a 50 day moving average of $270.19 and a 200 day moving average of $287.88. General Dynamics Co. has a twelve month low of $251.62 and a twelve month high of $316.90.

General Dynamics (NYSE:GD) last announced its quarterly 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 firm had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. General Dynamics’s revenue was up 10.4% on a year-over-year basis. During the same period last year, the business earned $3.04 EPS. As a group, equities research analysts anticipate that General Dynamics Co. will post 13.71 earnings per share for the current fiscal year.

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

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is currently 43.26%.

Analyst Ratings Changes

GD has been the subject of several analyst reports. Susquehanna cut their price target on shares of General Dynamics from $330.00 to $315.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Robert W. Baird restated a “neutral” rating and set a $283.00 price target (down from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company cut their price target 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, January 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, General Dynamics has a consensus rating of “Hold” and a consensus price target of $304.88.

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.