Keybank National Association OH Sells 486 Shares of General Dynamics Co. (NYSE:GD)

Keybank National Association OH lessened its stake in General Dynamics Co. (NYSE:GD) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,496 shares of the aerospace company’s stock after selling 486 shares during the period. Keybank National Association OH’s holdings in General Dynamics were worth $4,347,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Van ECK Associates Corp raised its position in General Dynamics by 10.5% during the 3rd quarter. Van ECK Associates Corp now owns 38,694 shares of the aerospace company’s stock valued at $11,779,000 after purchasing an additional 3,682 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in General Dynamics by 16.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 45,476 shares of the aerospace company’s stock valued at $13,743,000 after purchasing an additional 6,352 shares during the last quarter. Intact Investment Management Inc. bought a new position in General Dynamics during the 3rd quarter valued at approximately $73,000. QRG Capital Management Inc. raised its position in General Dynamics by 2.1% during the 3rd quarter. QRG Capital Management Inc. now owns 19,473 shares of the aerospace company’s stock valued at $5,885,000 after purchasing an additional 394 shares during the last quarter. Finally, United Advisor Group LLC bought a new position in General Dynamics during the 3rd quarter valued at approximately $239,000. Institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on GD. Citigroup lowered their price target on General Dynamics from $360.00 to $335.00 and set a “buy” rating for the company in a research report on Monday, February 10th. The Goldman Sachs Group lowered their price target on General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a research report on Tuesday, January 28th. Royal Bank of Canada lowered their price target on General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a research report on Thursday, January 30th. Wells Fargo & Company lowered their target price on General Dynamics from $276.00 to $244.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lowered their target price on General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $296.71.

Insiders Place Their Bets

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of General Dynamics stock in a transaction on Friday, January 31st. The stock was 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 of the company’s stock, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

General Dynamics Stock Up 4.8 %

GD stock opened at $262.94 on Thursday. General Dynamics Co. has a twelve month low of $239.87 and a twelve month high of $316.90. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The firm has a market cap of $71.09 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. The business has a 50 day moving average of $257.73 and a 200 day moving average of $280.27.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing analysts’ consensus estimates 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 forecast that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be issued a $1.50 dividend. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.28%. General Dynamics’s dividend payout ratio (DPR) is presently 41.64%.

General Dynamics declared that its board has initiated a share buyback program on Wednesday, December 4th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

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.