General Dynamics Co. (NYSE:GD) Position Reduced by GAMMA Investing LLC

GAMMA Investing LLC reduced its position in General Dynamics Co. (NYSE:GD) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,589 shares of the aerospace company’s stock after selling 245 shares during the period. GAMMA Investing LLC’s holdings in General Dynamics were worth $946,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. MFA Wealth Advisors LLC lifted its position in shares of General Dynamics by 241.7% in the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 58 shares in the last quarter. Hara Capital LLC purchased a new stake in General Dynamics in the 3rd quarter worth approximately $26,000. Lowe Wealth Advisors LLC acquired a new stake in shares of General Dynamics during the 3rd quarter valued at $30,000. True Wealth Design LLC purchased a new position in shares of General Dynamics during the 3rd quarter valued at $34,000. Finally, Meeder Asset Management Inc. increased its stake in shares of General Dynamics by 385.2% in the second quarter. Meeder Asset Management Inc. now owns 131 shares of the aerospace company’s stock worth $38,000 after acquiring an additional 104 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GD shares. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group cut General Dynamics from a “neutral” rating to a “sell” rating and lowered their price target for the company from $283.00 to $245.00 in a research note on Thursday, December 12th. Royal Bank of Canada lowered shares of General Dynamics from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $330.00 to $290.00 in a research report on Thursday, December 19th. Barclays boosted their target price on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Finally, Sanford C. Bernstein cut their price target on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and an average price target of $314.19.

General Dynamics Stock Up 0.9 %

Shares of GD stock opened at $263.37 on Friday. General Dynamics Co. has a 12 month low of $247.36 and a 12 month high of $316.90. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The firm has a market cap of $72.42 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 1.62 and a beta of 0.59. The stock has a 50 day moving average of $280.38 and a 200-day moving average of $290.41.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. General Dynamics’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.04 earnings per share. On average, equities analysts predict that General Dynamics Co. will post 13.84 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 annualized dividend and a yield of 2.16%. General Dynamics’s dividend payout ratio is 43.26%.

General Dynamics declared that its board has initiated a stock buyback program on Wednesday, December 4th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the aerospace company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were 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 $5,701,349.36. The trade was a 21.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.52% of the company’s stock.

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.