General Dynamics Co. (NYSE:GD) Shares Sold by Granite Group Advisors LLC

Granite Group Advisors LLC cut its stake in shares of General Dynamics Co. (NYSE:GD) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,844 shares of the aerospace company’s stock after selling 91 shares during the quarter. General Dynamics makes up approximately 0.6% of Granite Group Advisors LLC’s portfolio, making the stock its 27th biggest position. Granite Group Advisors LLC’s holdings in General Dynamics were worth $1,013,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Creative Planning lifted its stake in General Dynamics by 4.6% during the second quarter. Creative Planning now owns 45,042 shares of the aerospace company’s stock worth $13,068,000 after purchasing an additional 1,988 shares during the last quarter. NewEdge Advisors LLC lifted its stake in General Dynamics by 19.5% during the second quarter. NewEdge Advisors LLC now owns 38,038 shares of the aerospace company’s stock worth $11,036,000 after purchasing an additional 6,205 shares during the last quarter. Quarry LP lifted its stake in General Dynamics by 85.0% during the second quarter. Quarry LP now owns 283 shares of the aerospace company’s stock worth $82,000 after purchasing an additional 130 shares during the last quarter. Kimelman & Baird LLC purchased a new stake in General Dynamics during the second quarter worth approximately $290,000. Finally, EP Wealth Advisors LLC lifted its stake in General Dynamics by 36.2% during the second quarter. EP Wealth Advisors LLC now owns 17,740 shares of the aerospace company’s stock worth $5,147,000 after purchasing an additional 4,711 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Trading Down 0.9 %

Shares of GD stock opened at $266.22 on Monday. The business’s fifty day moving average price is $269.27 and its 200 day moving average price is $287.70. General Dynamics Co. has a 1-year low of $257.26 and a 1-year high of $316.90. The firm has a market capitalization of $73.20 billion, a PE ratio of 20.28, a P/E/G ratio of 1.43 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.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s dividend payout ratio is presently 43.26%.

General Dynamics announced that its board has authorized a stock buyback plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Susquehanna decreased their target price on General Dynamics from $330.00 to $315.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada cut General Dynamics from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $330.00 to $290.00 in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft reduced their price objective on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Robert W. Baird reiterated a “neutral” rating and issued a $283.00 price objective (down previously from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company reduced their price objective on General Dynamics from $295.00 to $279.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. One investment 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 stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $304.88.

Insider Buying and Selling

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was 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 of the company’s stock, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.52% of the stock is currently owned by corporate insiders.

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.