General Dynamics Co. (NYSE:GD) Shares Sold by Sabal Trust CO

Sabal Trust CO cut its stake in shares of General Dynamics Co. (NYSE:GD) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 105,089 shares of the aerospace company’s stock after selling 2,317 shares during the quarter. General Dynamics accounts for approximately 1.6% of Sabal Trust CO’s holdings, making the stock its 26th biggest position. Sabal Trust CO’s holdings in General Dynamics were worth $27,690,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hara Capital LLC purchased a new stake in shares of General Dynamics in the third quarter valued at about $26,000. Financial Life Planners purchased a new stake in General Dynamics in the 4th quarter valued at approximately $25,000. Heck Capital Advisors LLC acquired a new position in General Dynamics during the 4th quarter worth approximately $28,000. Sugar Maple Asset Management LLC purchased a new position in shares of General Dynamics during the 4th quarter worth approximately $28,000. Finally, True Wealth Design LLC acquired a new stake in shares of General Dynamics in the 3rd quarter valued at approximately $34,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GD shares. Wolfe Research cut General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. cut their price target on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. BTIG Research downgraded shares of General Dynamics from a “buy” rating to a “neutral” rating in a report on Thursday, February 13th. TD Cowen dropped their target price on shares of General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $300.00 price target (down previously from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $298.59.

General Dynamics Stock Performance

NYSE:GD opened at $249.83 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. The firm has a market cap of $67.54 billion, a PE ratio of 18.32, a P/E/G ratio of 1.69 and a beta of 0.61. The firm has a 50 day simple moving average of $258.97 and a 200-day simple moving average of $281.88. General Dynamics Co. has a 1-year low of $239.87 and a 1-year high of $316.90.

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

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 17th were issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 2.27%. The ex-dividend date was Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is 41.64%.

General Dynamics announced that its Board of Directors has approved 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 repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at General Dynamics

In other news, Director Laura J. Schumacher sold 1,796 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the sale, the director now directly owns 11,175 shares of the company’s stock, valued at $2,857,224. The trade was a 13.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by company insiders.

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.