Indiana Trust & Investment Management Co Sells 806 Shares of General Dynamics Co. (NYSE:GD)

Indiana Trust & Investment Management Co cut its holdings in shares of General Dynamics Co. (NYSE:GD) by 15.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,294 shares of the aerospace company’s stock after selling 806 shares during the period. Indiana Trust & Investment Management Co’s holdings in General Dynamics were worth $1,131,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MFA Wealth Advisors LLC boosted its holdings in General Dynamics by 241.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 58 shares during the last quarter. Financial Life Planners bought a new position in shares of General Dynamics during the fourth quarter valued at about $25,000. Hara Capital LLC purchased a new position in General Dynamics during the third quarter worth about $26,000. Sugar Maple Asset Management LLC bought a new stake in General Dynamics in the 4th quarter worth about $28,000. Finally, Heck Capital Advisors LLC purchased a new stake in General Dynamics in the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GD shares. Deutsche Bank Aktiengesellschaft reduced their target price on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Robert W. Baird restated 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. Susquehanna lowered their target price on General Dynamics from $315.00 to $300.00 and set a “positive” rating on the stock in a research note on Thursday, January 30th. Baird R W downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Wells Fargo & Company decreased their price objective on shares of General Dynamics from $279.00 to $276.00 and set an “equal weight” rating for the company in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, General Dynamics currently has a consensus rating of “Hold” and a consensus price target of $298.59.

Insider Activity

In related news, Director Laura J. Schumacher sold 1,796 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following 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 filing with the SEC, which is accessible through this link. Also, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction that occurred 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 owns 20,296 shares of the company’s stock, valued at $5,701,349.36. The trade was a 21.44 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Price Performance

Shares of NYSE:GD opened at $256.92 on Wednesday. General Dynamics Co. has a 12 month low of $247.01 and a 12 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 stock has a market cap of $70.65 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.61 and a beta of 0.61. The company has a 50 day moving average of $264.07 and a 200 day moving average of $285.32.

General Dynamics (NYSE:GD) last released its quarterly 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 net margin of 7.93% and a return on equity of 17.10%. As a group, sell-side analysts forecast that General Dynamics Co. will post 14.84 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 17th were issued a $1.42 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.21%. General Dynamics’s payout ratio is currently 41.64%.

General Dynamics announced that its Board of Directors has authorized a share buyback program on Wednesday, December 4th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows 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 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.