Legacy Financial Advisors Inc. Sells 408 Shares of General Dynamics Co. (NYSE:GD)

Legacy Financial Advisors Inc. reduced its stake in General Dynamics Co. (NYSE:GD) by 8.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,429 shares of the aerospace company’s stock after selling 408 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in General Dynamics were worth $1,167,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GD. Financial Life Planners bought a new position in General Dynamics in the 4th quarter worth about $25,000. Whipplewood Advisors LLC purchased a new stake in shares of General Dynamics in the fourth quarter worth $26,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of General Dynamics during the fourth quarter valued at $26,000. Heck Capital Advisors LLC bought a new position in General Dynamics in the fourth quarter valued at about $28,000. Finally, Hoey Investments Inc. bought a new position in shares of General Dynamics in the fourth quarter worth about $28,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GD shares. Robert W. Baird reissued a “neutral” rating and set a $283.00 price target (down from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. Royal Bank of Canada decreased their price objective 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. Susquehanna upped their price target on General Dynamics from $300.00 to $315.00 and gave the company a “positive” rating in a research report on Wednesday, April 2nd. William Blair cut General Dynamics from an “outperform” rating to a “market perform” rating in a research note on Friday, February 21st. Finally, The Goldman Sachs Group dropped their price objective on General Dynamics from $245.00 to $241.00 and set a “sell” rating on the stock in a report on Tuesday, January 28th. One investment 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, the company presently has an average rating of “Hold” and a consensus price target of $297.12.

General Dynamics Stock Up 7.0 %

GD stock opened at $272.10 on Thursday. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 1 year low of $239.20 and a 1 year high of $316.90. The company has a fifty day simple moving average of $258.79 and a 200 day simple moving average of $274.17. The firm has a market cap of $73.03 billion, a PE ratio of 19.95, a PEG ratio of 1.69 and a beta of 0.43.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. Sell-side analysts anticipate that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.21%. The ex-dividend date is Friday, April 11th. This is an increase from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s dividend payout ratio is presently 43.99%.

Insider Transactions at General Dynamics

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the completion of the sale, the senior vice president now owns 45,192 shares of the company’s stock, valued at approximately $12,297,195.12. This represents a 37.88 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

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.