Silverlake Wealth Management LLC Cuts Position in General Dynamics Co. (NYSE:GD)

Silverlake Wealth Management LLC reduced its holdings in shares of General Dynamics Co. (NYSE:GD) by 33.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,185 shares of the aerospace company’s stock after selling 599 shares during the quarter. Silverlake Wealth Management LLC’s holdings in General Dynamics were worth $312,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in General Dynamics by 0.8% in the third quarter. Wellington Management Group LLP now owns 14,205,330 shares of the aerospace company’s stock valued at $4,292,851,000 after acquiring an additional 109,618 shares in the last quarter. State Street Corp grew its holdings in General Dynamics by 9.4% during the 3rd quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock valued at $3,307,612,000 after purchasing an additional 943,247 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in General Dynamics by 2.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock worth $2,366,124,000 after buying an additional 189,904 shares during the period. Geode Capital Management LLC lifted its holdings in General Dynamics by 13.0% in the 3rd quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock worth $1,674,998,000 after buying an additional 638,342 shares in the last quarter. Finally, FMR LLC boosted its position in General Dynamics by 0.5% in the 3rd quarter. FMR LLC now owns 4,940,537 shares of the aerospace company’s stock valued at $1,493,030,000 after buying an additional 24,464 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Activity

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the transaction, the director now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Christopher J. Brady sold 5,540 shares of the business’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 completion of the sale, the vice president now directly owns 20,296 shares in the company, valued at $5,701,349.36. This represents a 21.44 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

General Dynamics Stock Performance

Shares of GD opened at $258.36 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. General Dynamics Co. has a 1 year low of $247.01 and a 1 year high of $316.90. The firm has a fifty day moving average of $266.07 and a 200-day moving average of $286.28. The company has a market cap of $71.04 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 1.46 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. As a group, equities analysts anticipate that General Dynamics Co. will post 14.88 earnings per share for the current year.

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

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a yield of 2.20%. General Dynamics’s dividend payout ratio (DPR) is presently 41.64%.

Wall Street Analyst Weigh In

Several research firms recently commented on GD. Sanford C. Bernstein cut their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. 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. TD Cowen cut their price target on shares of General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. Finally, Baird R W lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $300.06.

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.