General Dynamics Co. (NYSE:GD) Shares Purchased by SlateStone Wealth LLC

SlateStone Wealth LLC raised its holdings in General Dynamics Co. (NYSE:GD) by 3.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,272 shares of the aerospace company’s stock after acquiring an additional 125 shares during the period. SlateStone Wealth LLC’s holdings in General Dynamics were worth $1,126,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GD. State Street Corp grew its holdings in 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 buying an additional 943,247 shares during the period. Raymond James Financial Inc. purchased a new stake in General Dynamics in the 4th quarter valued at about $197,238,000. Geode Capital Management LLC grew its holdings in 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 valued at $1,674,998,000 after buying an additional 638,342 shares during the period. Two Sigma Advisers LP grew its holdings in General Dynamics by 117.0% in the 3rd quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company’s stock valued at $259,469,000 after buying an additional 463,000 shares during the period. Finally, Barclays PLC grew its holdings in General Dynamics by 43.1% in the 3rd quarter. Barclays PLC now owns 942,485 shares of the aerospace company’s stock valued at $284,818,000 after buying an additional 283,972 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the transaction, the senior vice president now directly owns 45,192 shares in the company, valued at $12,297,195.12. This trade represents a 37.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Laura J. Schumacher sold 1,796 shares of the firm’s stock in a transaction 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 transaction, the director now owns 11,175 shares in the company, valued at $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by company insiders.

General Dynamics Stock Performance

General Dynamics stock opened at $262.19 on Monday. The stock has a market cap of $70.88 billion, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. 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 stock has a 50 day moving average of $257.89 and a 200-day moving average of $278.77. General Dynamics Co. has a 52 week low of $239.87 and a 52 week high of $316.90.

General Dynamics (NYSE:GD) last released its earnings results 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, analysts expect that General Dynamics Co. will post 14.83 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 permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be paid a dividend of $1.50 per share. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, April 11th. General Dynamics’s dividend payout ratio is 43.99%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GD shares. Royal Bank of Canada decreased their target price on General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a report on Thursday, January 30th. Robert W. Baird reiterated a “neutral” rating and set a $283.00 target price (down previously from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. William Blair cut General Dynamics from an “outperform” rating to a “market perform” rating in a report on Friday, February 21st. The Goldman Sachs Group decreased their target price on General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a report on Tuesday, January 28th. Finally, Susquehanna decreased their target price on General Dynamics from $315.00 to $300.00 and set a “positive” rating for the company in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $297.71.

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.