Fulton Bank N.A. Has $758,000 Position in General Dynamics Co. (NYSE:GD)

Fulton Bank N.A. decreased its holdings in shares of General Dynamics Co. (NYSE:GD) by 9.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,875 shares of the aerospace company’s stock after selling 298 shares during the period. Fulton Bank N.A.’s holdings in General Dynamics were worth $758,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in GD. MFA Wealth Advisors LLC boosted its position in shares of 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 purchasing an additional 58 shares in the last quarter. Hara Capital LLC bought a new position in General Dynamics in the third quarter worth approximately $26,000. Lowe Wealth Advisors LLC bought a new stake in shares of General Dynamics during the third quarter valued at approximately $30,000. True Wealth Design LLC acquired a new position in shares of General Dynamics during the third quarter worth approximately $34,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of General Dynamics by 385.2% in the 2nd quarter. Meeder Asset Management Inc. now owns 131 shares of the aerospace company’s stock worth $38,000 after purchasing an additional 104 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.52% of the stock is owned by company insiders.

General Dynamics Trading Up 0.7 %

NYSE:GD opened at $261.35 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average is $277.21 and its 200 day moving average is $289.35. General Dynamics Co. has a 12 month low of $247.36 and a 12 month high of $316.90. The stock has a market capitalization of $71.86 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. During the same period in the prior year, the company earned $3.04 EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. Sell-side analysts expect that General Dynamics Co. will post 13.84 earnings per share for the current year.

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

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 $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 2.17%. The ex-dividend date is Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is presently 43.26%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GD. Citigroup upped their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Wolfe Research cut shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Sanford C. Bernstein dropped their target price on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Finally, Vertical Research downgraded General Dynamics from a “buy” rating to a “hold” rating and decreased their price target for the stock from $352.00 to $290.00 in a report on Monday. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, General Dynamics currently has an average rating of “Hold” and a consensus target price of $308.18.

About General Dynamics

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.