South Dakota Investment Council Trims Stake in General Dynamics Co. (NYSE:GD)

South Dakota Investment Council trimmed its holdings in shares of General Dynamics Co. (NYSE:GD) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,703 shares of the aerospace company’s stock after selling 623 shares during the quarter. South Dakota Investment Council’s holdings in General Dynamics were worth $11,515,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Empowered Funds LLC increased its position in shares of General Dynamics by 15.3% during the 4th quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock valued at $2,553,000 after purchasing an additional 1,283 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in General Dynamics by 67.6% in the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock worth $2,583,000 after buying an additional 3,448 shares in the last quarter. Olstein Capital Management L.P. grew its position in General Dynamics by 36.4% during the third quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock valued at $4,533,000 after acquiring an additional 4,000 shares during the last quarter. Kentucky Trust Co bought a new position in General Dynamics during the fourth quarter valued at approximately $607,000. Finally, Oppenheimer & Co. Inc. grew its position in General Dynamics by 10.0% during the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock valued at $11,204,000 after acquiring an additional 3,363 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at General Dynamics

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. The trade was a 13.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.52% of the stock is owned by insiders.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $243.02 on Friday. 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 firm has a market capitalization of $65.70 billion, a P/E ratio of 17.82, a P/E/G ratio of 1.69 and a beta of 0.61. The business has a fifty day simple moving average of $259.68 and a two-hundred day simple moving average of $282.53. General Dynamics Co. has a 12 month low of $239.87 and a 12 month high of $316.90.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 EPS 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%. On average, equities analysts forecast that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics declared 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 reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were given a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Friday, January 17th. General Dynamics’s dividend payout ratio is presently 41.64%.

Analyst Ratings Changes

A number of research analysts have commented on GD shares. Barclays reduced their price target on shares of 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 cut shares of General Dynamics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 13th. 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. Citigroup cut their target price on shares of General Dynamics from $360.00 to $335.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Finally, Wolfe Research cut shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, General Dynamics currently has an average rating of “Hold” and a consensus price target of $298.59.

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.