General Dynamics Co. (NYSE:GD) Shares Sold by Cape ANN Savings Bank

Cape ANN Savings Bank cut its position in General Dynamics Co. (NYSE:GD) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,931 shares of the aerospace company’s stock after selling 108 shares during the period. General Dynamics accounts for 0.9% of Cape ANN Savings Bank’s holdings, making the stock its 28th largest position. Cape ANN Savings Bank’s holdings in General Dynamics were worth $1,563,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Jeppson Wealth Management LLC lifted its stake in General Dynamics by 3.8% in the 3rd quarter. Jeppson Wealth Management LLC now owns 955 shares of the aerospace company’s stock worth $289,000 after purchasing an additional 35 shares in the last quarter. Community Bank N.A. lifted its position in General Dynamics by 0.6% during the third quarter. Community Bank N.A. now owns 5,461 shares of the aerospace company’s stock worth $1,650,000 after buying an additional 35 shares in the last quarter. United Asset Strategies Inc. lifted its position in General Dynamics by 1.2% during the third quarter. United Asset Strategies Inc. now owns 3,013 shares of the aerospace company’s stock worth $911,000 after buying an additional 37 shares in the last quarter. Forum Financial Management LP boosted its stake in General Dynamics by 1.8% during the third quarter. Forum Financial Management LP now owns 2,042 shares of the aerospace company’s stock worth $617,000 after buying an additional 37 shares during the last quarter. Finally, Freedom Investment Management Inc. grew its holdings in General Dynamics by 0.9% in the 3rd quarter. Freedom Investment Management Inc. now owns 4,344 shares of the aerospace company’s stock valued at $1,313,000 after buying an additional 37 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Price Performance

General Dynamics stock opened at $243.02 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 52-week low of $239.87 and a 52-week high of $316.90. The firm has a market cap of $65.70 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 1.69 and a beta of 0.61. The company’s 50 day moving average is $259.68 and its two-hundred day moving average is $282.49.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (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, research analysts expect that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date was Friday, January 17th. General Dynamics’s dividend payout ratio is presently 41.64%.

Insider Activity at General Dynamics

In related news, Director Laura J. Schumacher sold 1,796 shares of the 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 of the company’s stock, valued at $2,857,224. This represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.52% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GD has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Jefferies Financial Group reissued a “hold” rating and issued a $300.00 price target (down previously from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. JPMorgan Chase & Co. reduced their price target on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. TD Cowen lowered their price objective on General Dynamics from $315.00 to $295.00 in a research report on Tuesday, January 28th. Finally, Baird R W downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, General Dynamics has an average rating of “Hold” and a consensus target price of $298.59.

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.