Webster Bank N. A. Sells 359 Shares of General Dynamics Co. (NYSE:GD)

Webster Bank N. A. cut its stake in shares of General Dynamics Co. (NYSE:GD) by 2.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 15,006 shares of the aerospace company’s stock after selling 359 shares during the quarter. Webster Bank N. A.’s holdings in General Dynamics were worth $3,954,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Creative Planning raised its stake in General Dynamics by 4.6% during the second quarter. Creative Planning now owns 45,042 shares of the aerospace company’s stock worth $13,068,000 after buying an additional 1,988 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of General Dynamics by 19.5% in the 2nd quarter. NewEdge Advisors LLC now owns 38,038 shares of the aerospace company’s stock valued at $11,036,000 after purchasing an additional 6,205 shares during the period. Quarry LP boosted its position in shares of General Dynamics by 85.0% during the 2nd quarter. Quarry LP now owns 283 shares of the aerospace company’s stock valued at $82,000 after purchasing an additional 130 shares in the last quarter. Kimelman & Baird LLC acquired a new stake in General Dynamics during the second quarter worth approximately $290,000. Finally, EP Wealth Advisors LLC grew its stake in General Dynamics by 36.2% during the second quarter. EP Wealth Advisors LLC now owns 17,740 shares of the aerospace company’s stock worth $5,147,000 after purchasing an additional 4,711 shares during the period. Institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other General Dynamics 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 value of $1,556,241.40. Following the sale, the vice president now owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.52% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on GD. Barclays cut their price target on General Dynamics from $330.00 to $305.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Sanford C. Bernstein cut their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Vertical Research cut shares of General Dynamics from a “buy” rating to a “hold” rating and cut their price objective for the stock from $352.00 to $290.00 in a research report on Monday, January 6th. Finally, Baird R W lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $304.88.

General Dynamics Stock Down 0.9 %

General Dynamics stock opened at $266.22 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. The stock has a market cap of $73.20 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 1.43 and a beta of 0.61. General Dynamics Co. has a fifty-two week low of $257.26 and a fifty-two week high of $316.90. The firm’s 50-day simple moving average is $269.27 and its 200 day simple moving average is $287.74.

General Dynamics declared that its board has approved a stock repurchase plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the aerospace company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued 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 dividend payout ratio is presently 43.26%.

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.