Condor Capital Management Trims Stock Position in General Dynamics Co. (NYSE:GD)

Condor Capital Management decreased its position in General Dynamics Co. (NYSE:GD) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,006 shares of the aerospace company’s stock after selling 53 shares during the period. Condor Capital Management’s holdings in General Dynamics were worth $2,636,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Life Planners acquired a new position in General Dynamics in the fourth quarter valued at about $25,000. Whipplewood Advisors LLC purchased a new position in shares of General Dynamics during the 4th quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in General Dynamics in the 4th quarter valued at approximately $26,000. Heck Capital Advisors LLC purchased a new stake in General Dynamics in the fourth quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in General Dynamics during the fourth quarter worth $28,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on GD shares. UBS Group decreased their price target on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Citigroup reduced their price target on General Dynamics from $360.00 to $335.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Royal Bank of Canada lowered their price objective 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. JPMorgan Chase & Co. reduced their target price on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Finally, Vertical Research downgraded shares of General Dynamics from a “buy” rating to a “hold” rating and dropped their price objective for the company from $352.00 to $290.00 in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $297.71.

Insider Buying and Selling at General Dynamics

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the completion of the transaction, the senior vice president now directly owns 45,192 shares in the company, valued at $12,297,195.12. The trade was a 37.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 corporate insiders.

General Dynamics Price Performance

Shares of GD opened at $268.11 on Thursday. The firm has a 50-day simple moving average of $258.34 and a 200-day simple moving average of $278.25. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The company has a market capitalization of $72.48 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. General Dynamics Co. has a fifty-two week low of $239.87 and a fifty-two week high of $316.90.

General Dynamics (NYSE:GD) last announced its quarterly earnings data 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, equities research analysts anticipate that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be given a dividend of $1.50 per share. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Friday, April 11th. General Dynamics’s dividend payout ratio is presently 43.99%.

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 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.