Shulman DeMeo Asset Management LLC Sells 276 Shares of General Dynamics Co. (NYSE:GD)

Shulman DeMeo Asset Management LLC reduced its holdings in shares of General Dynamics Co. (NYSE:GD) by 11.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,056 shares of the aerospace company’s stock after selling 276 shares during the quarter. Shulman DeMeo Asset Management LLC’s holdings in General Dynamics were worth $542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Wealth Alliance boosted its holdings in shares of General Dynamics by 17.4% in the second quarter. Wealth Alliance now owns 1,206 shares of the aerospace company’s stock worth $350,000 after buying an additional 179 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of General Dynamics by 7.5% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,975 shares of the aerospace company’s stock valued at $2,314,000 after acquiring an additional 553 shares during the period. Amalgamated Bank raised its stake in General Dynamics by 1.5% during the 2nd quarter. Amalgamated Bank now owns 48,426 shares of the aerospace company’s stock worth $14,050,000 after acquiring an additional 726 shares during the period. Waterloo Capital L.P. bought a new position in shares of General Dynamics in the second quarter worth approximately $447,000. Finally, Sienna Gestion purchased a new stake in shares of General Dynamics in the second quarter worth $746,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of NYSE GD opened at $268.97 on Friday. 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’s 50 day simple moving average is $274.45 and its 200-day simple moving average is $288.45. General Dynamics Co. has a 12 month low of $247.36 and a 12 month high of $316.90. The stock has a market capitalization of $73.96 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 1.38 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its 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 analysts’ expectations of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.04 earnings per share. Analysts expect that General Dynamics Co. will post 13.81 EPS for the current year.

General Dynamics announced that its board has initiated a stock buyback program on Wednesday, December 4th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s dividend payout ratio is presently 43.26%.

Insider Activity

In other news, VP Christopher J. Brady sold 5,540 shares of the firm’s 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 transaction, the vice president now directly owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. TD Cowen raised General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Sanford C. Bernstein lowered 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 report on Thursday, October 24th. Citigroup raised their price target on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Barclays cut their price objective on General Dynamics from $330.00 to $305.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $300.00 target price (down from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $304.53.

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.