General Dynamics Co. (NYSE:GD) Shares Sold by FCG Investment Co

FCG Investment Co lessened its holdings in shares of General Dynamics Co. (NYSE:GD) by 29.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,833 shares of the aerospace company’s stock after selling 2,442 shares during the quarter. FCG Investment Co’s holdings in General Dynamics were worth $1,537,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. International Assets Investment Management LLC increased its holdings in 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 valued at $416,876,000 after purchasing an additional 1,376,065 shares in the last quarter. State Street Corp boosted its position in shares of General Dynamics by 9.4% in the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock worth $3,307,612,000 after buying an additional 943,247 shares during the period. Geode Capital Management LLC grew its stake in shares of General Dynamics by 13.0% in the third 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 in the last quarter. Two Sigma Advisers LP raised its holdings in shares of General Dynamics by 117.0% during 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 lifted its position in General Dynamics by 43.1% during the 3rd quarter. Barclays PLC now owns 942,485 shares of the aerospace company’s stock worth $284,818,000 after acquiring an additional 283,972 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Activity

In related news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction dated Friday, November 22nd. The shares were 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. The trade was a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Stock Down 0.3 %

NYSE:GD opened at $268.07 on Friday. The firm has a market capitalization of $73.71 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 1.44 and a beta of 0.61. General Dynamics Co. has a 52 week low of $251.62 and a 52 week high of $316.90. 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 stock has a 50 day moving average of $270.19 and a 200-day moving average of $287.88.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). The firm had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business’s revenue was up 10.4% compared to the same quarter last year. During the same period last year, the firm posted $3.04 EPS. Analysts predict that General Dynamics Co. will post 13.71 EPS for the current year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is 43.26%.

General Dynamics announced that its Board of Directors has authorized a share repurchase program on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GD shares. The Goldman Sachs Group lowered shares of General Dynamics from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $283.00 to $245.00 in a research note on Thursday, December 12th. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Jefferies Financial Group restated a “hold” rating and set a $300.00 target price (down from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. Robert W. Baird reiterated a “neutral” rating and issued a $283.00 price target (down previously from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. Finally, Susquehanna lowered their price objective on General Dynamics from $330.00 to $315.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $304.88.

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.