General Dynamics Co. (NYSE:GD) Shares Sold by Principle Wealth Partners LLC

Principle Wealth Partners LLC lowered its position in General Dynamics Co. (NYSE:GD) by 0.8% in the fourth quarter, HoldingsChannel reports. The fund owned 27,431 shares of the aerospace company’s stock after selling 230 shares during the quarter. Principle Wealth Partners LLC’s holdings in General Dynamics were worth $7,228,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Koshinski Asset Management Inc. grew its position in shares of General Dynamics by 16.9% in the third quarter. Koshinski Asset Management Inc. now owns 6,306 shares of the aerospace company’s stock valued at $1,906,000 after purchasing an additional 912 shares in the last quarter. Thomasville National Bank increased its holdings in General Dynamics by 0.7% in the 3rd quarter. Thomasville National Bank now owns 70,144 shares of the aerospace company’s stock valued at $21,198,000 after purchasing an additional 507 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in General Dynamics by 6.9% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 6,018 shares of the aerospace company’s stock valued at $1,819,000 after purchasing an additional 389 shares during the period. ORG Wealth Partners LLC acquired a new position in General Dynamics during the third quarter worth $702,000. Finally, Affinity Wealth Management LLC boosted its position in shares of General Dynamics by 18.1% during the third quarter. Affinity Wealth Management LLC now owns 856 shares of the aerospace company’s stock worth $259,000 after buying an additional 131 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Trading Up 0.5 %

Shares of GD opened at $256.17 on Tuesday. The firm’s 50-day moving average is $264.47 and its two-hundred day moving average is $285.57. General Dynamics Co. has a twelve month low of $247.01 and a twelve 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 firm has a market capitalization of $70.44 billion, a P/E ratio of 18.78, a PEG ratio of 1.61 and a beta of 0.61.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. On average, research analysts predict that General Dynamics Co. will post 14.84 earnings per share for the current fiscal year.

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

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 17th were issued a dividend of $1.42 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $5.68 annualized dividend and a yield of 2.22%. General Dynamics’s dividend payout ratio (DPR) is currently 41.64%.

Insiders Place Their Bets

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the transaction, the vice president now owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following the completion of the sale, the director now owns 11,175 shares in the company, 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. 1.52% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GD shares. Barclays decreased their target price on General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Susquehanna dropped their price objective on shares of General Dynamics from $315.00 to $300.00 and set a “positive” rating on the stock in a research report on Thursday, January 30th. Vertical Research lowered General Dynamics from a “buy” rating to a “hold” rating and cut their target price for the stock from $352.00 to $290.00 in a research report on Monday, January 6th. Baird R W cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lowered their target price on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. One research 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $298.59.

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.