Woodstock Corp Sells 91 Shares of General Dynamics Co. (NYSE:GD)

Woodstock Corp trimmed its position in General Dynamics Co. (NYSE:GD) by 1.4% in the 4th quarter, Holdings Channel reports. The firm owned 6,546 shares of the aerospace company’s stock after selling 91 shares during the quarter. Woodstock Corp’s holdings in General Dynamics were worth $1,725,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. MFA Wealth Advisors LLC boosted its stake in General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after buying an additional 58 shares during the period. Hara Capital LLC purchased a new stake in shares of General Dynamics in the 3rd quarter valued at about $26,000. Lowe Wealth Advisors LLC purchased a new position in shares of General Dynamics during the third quarter worth about $30,000. True Wealth Design LLC purchased a new stake in General Dynamics in the third quarter valued at approximately $34,000. Finally, Coston McIsaac & Partners increased its holdings in shares of General Dynamics by 22.8% in the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after buying an additional 33 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GD shares. Citigroup upped their target price on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Sanford C. Bernstein cut their price objective on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Jefferies Financial Group restated a “hold” rating and issued a $300.00 target price (down previously from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $283.00 price target (down from $345.00) on shares of General Dynamics in a research report on Tuesday. One 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $304.53.

Insider Activity

In other General Dynamics 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 transaction of $1,556,241.40. Following the completion of the sale, the vice president now directly owns 20,296 shares in the company, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.52% of the stock is currently owned by company insiders.

General Dynamics Stock Performance

General Dynamics stock opened at $268.97 on Friday. The firm has a 50-day moving average of $274.45 and a 200-day moving average of $288.45. The firm has a market cap of $73.96 billion, a P/E ratio of 20.49, a P/E/G ratio of 1.38 and a beta of 0.61. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. General Dynamics Co. has a 1-year low of $247.36 and a 1-year high of $316.90.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter in the prior year, the company earned $3.04 EPS. General Dynamics’s revenue was up 10.4% compared to the same quarter last year. Sell-side analysts expect that General Dynamics Co. will post 13.81 EPS for the current year.

General Dynamics Dividend Announcement

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 issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.11%. General Dynamics’s dividend payout ratio (DPR) is 43.26%.

General Dynamics declared that its Board of Directors has authorized a share repurchase program on Wednesday, December 4th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are 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.