Spectrum Asset Management Inc. NB CA Has $684,000 Stake in General Dynamics Co. (NYSE:GD)

Spectrum Asset Management Inc. NB CA lessened its holdings in shares of General Dynamics Co. (NYSE:GD) by 84.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,597 shares of the aerospace company’s stock after selling 13,795 shares during the quarter. Spectrum Asset Management Inc. NB CA’s holdings in General Dynamics were worth $684,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. MFA Wealth Advisors LLC grew its holdings in General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after buying an additional 58 shares in the last quarter. Hara Capital LLC bought a new stake in shares of General Dynamics in the 3rd quarter worth $26,000. Financial Life Planners purchased a new stake in shares of General Dynamics in the fourth quarter valued at about $25,000. Heck Capital Advisors LLC bought a new position in shares of General Dynamics during the fourth quarter valued at about $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in General Dynamics in the 4th quarter worth about $28,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on GD shares. Robert W. Baird reissued a “neutral” rating and set a $283.00 target price (down previously from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. Baird R W cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their target price on General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft decreased 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. Finally, TD Cowen dropped their target price on shares of General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, eleven have assigned 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.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $300.06.

General Dynamics Stock Down 1.2 %

Shares of NYSE GD opened at $255.41 on Friday. General Dynamics Co. has a 52 week low of $247.01 and a 52 week high of $316.90. The company has a market cap of $70.23 billion, a P/E ratio of 18.72, a P/E/G ratio of 1.46 and a beta of 0.61. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The business has a 50-day simple moving average of $265.60 and a two-hundred day simple moving average of $286.09.

General Dynamics (NYSE:GD) last posted its earnings results 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 return on equity of 17.10% and a net margin of 7.93%. Research analysts anticipate that General Dynamics Co. will post 14.88 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a yield of 2.22%. General Dynamics’s dividend payout ratio is currently 41.64%.

General Dynamics declared that its board has approved 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 purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction on 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 of the company’s stock, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Laura J. Schumacher sold 1,796 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following the sale, the director now owns 11,175 shares in the company, valued at $2,857,224. The trade was a 13.85 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

General Dynamics Company 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.