Thrive Wealth Management LLC Sells 99 Shares of General Dynamics Co. (NYSE:GD)

Thrive Wealth Management LLC reduced its holdings in General Dynamics Co. (NYSE:GD) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,961 shares of the aerospace company’s stock after selling 99 shares during the quarter. Thrive Wealth Management LLC’s holdings in General Dynamics were worth $517,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. International Assets Investment Management LLC raised its holdings in shares of General Dynamics by 40,389.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock worth $416,876,000 after purchasing an additional 1,376,065 shares during the period. State Street Corp raised its holdings in shares of General Dynamics by 9.4% in 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 acquiring an additional 943,247 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of General Dynamics by 117.0% in the 3rd quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company’s stock worth $259,469,000 after purchasing an additional 463,000 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in shares of General Dynamics by 2,189.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock worth $108,572,000 after acquiring an additional 357,861 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of General Dynamics 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 sale, the vice president now owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GD shares. Baird R W cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Wolfe Research lowered General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. Sanford C. Bernstein decreased their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Citigroup raised their target price 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. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $300.00 price objective (down previously from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $304.53.

General Dynamics Stock Down 0.7 %

NYSE GD opened at $266.86 on Monday. The company has a market cap of $73.38 billion, a P/E ratio of 20.32, a P/E/G ratio of 1.38 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. General Dynamics Co. has a one year low of $247.36 and a one year high of $316.90. The business has a fifty day moving average price of $272.86 and a 200 day moving average price of $288.19.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $11.65 billion. During the same period in the previous year, the firm posted $3.04 EPS. The company’s revenue was up 10.4% compared to the same quarter last year. Research analysts anticipate that General Dynamics Co. will post 13.81 EPS for the current fiscal year.

General Dynamics declared that its Board of Directors has initiated a stock buyback program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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 $1.42 dividend. 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 2.13%. General Dynamics’s dividend payout ratio is currently 43.26%.

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.