General Dynamics Co. (NYSE:GD) Shares Bought by TCTC Holdings LLC

TCTC Holdings LLC grew its holdings in shares of General Dynamics Co. (NYSE:GD) by 6.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,518 shares of the aerospace company’s stock after acquiring an additional 561 shares during the quarter. TCTC Holdings LLC’s holdings in General Dynamics were worth $2,508,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in General Dynamics during the 4th quarter worth $25,000. Whipplewood Advisors LLC acquired a new stake in shares of General Dynamics in the fourth quarter valued at $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of General Dynamics in the fourth quarter valued at $26,000. Sugar Maple Asset Management LLC acquired a new stake in shares of General Dynamics in the fourth quarter valued at $28,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of General Dynamics in the fourth quarter valued at $28,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insiders Place Their Bets

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the transaction, the senior vice president now directly owns 45,192 shares of the company’s stock, valued at approximately $12,297,195.12. The trade was a 37.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GD. TD Cowen cut their price objective on General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. Barclays dropped their price target on General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. BTIG Research lowered General Dynamics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 13th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $300.00 target price (down from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Finally, Baird R W lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $297.71.

General Dynamics Price Performance

Shares of NYSE:GD opened at $262.19 on Monday. The business has a 50 day moving average price of $257.89 and a 200 day moving average price of $278.77. General Dynamics Co. has a twelve month low of $239.87 and a twelve month high of $316.90. The company has a market cap of $70.88 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 1.69 and a beta of 0.59. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share 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%. Research analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current year.

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

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.29%. This is an increase from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s dividend payout ratio (DPR) is currently 43.99%.

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.