Cornell Pochily Investment Advisors Inc. Sells 85 Shares of General Dynamics Co. (NYSE:GD)

Cornell Pochily Investment Advisors Inc. lowered its position in General Dynamics Co. (NYSE:GD) by 5.6% in the 4th quarter, Holdings Channel reports. The firm owned 1,420 shares of the aerospace company’s stock after selling 85 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in General Dynamics were worth $374,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. MFA Wealth Advisors LLC boosted its holdings in General Dynamics by 241.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 58 shares during the period. Hara Capital LLC purchased a new stake in shares of General Dynamics during the third quarter valued at $26,000. Sugar Maple Asset Management LLC bought a new position in shares of General Dynamics in the fourth quarter worth about $28,000. Lowe Wealth Advisors LLC purchased a new position in General Dynamics in the 3rd quarter worth about $30,000. Finally, True Wealth Design LLC bought a new stake in General Dynamics during the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on GD. Baird R W lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Royal Bank of Canada lowered General Dynamics from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $330.00 to $290.00 in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft dropped their price target on General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Wolfe Research downgraded General Dynamics from an “outperform” rating to a “peer perform” rating in a report on Wednesday, December 11th. Finally, The Goldman Sachs Group cut shares of General Dynamics from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $283.00 to $245.00 in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $304.88.

Insider Buying and Selling

In related news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president now owns 20,296 shares in the company, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.52% of the stock is owned by company insiders.

General Dynamics Trading Down 0.9 %

Shares of NYSE:GD opened at $266.22 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The firm has a market capitalization of $73.20 billion, a P/E ratio of 20.28, a P/E/G ratio of 1.43 and a beta of 0.61. The business’s 50-day moving average is $269.27 and its 200 day moving average is $287.74. General Dynamics Co. has a 1 year low of $257.26 and a 1 year high of $316.90.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s payout ratio is currently 43.26%.

General Dynamics announced that its board has approved a share buyback program on Wednesday, December 4th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

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.