Berkshire Asset Management LLC PA Sells 1,086 Shares of General Dynamics Co. (NYSE:GD)

Berkshire Asset Management LLC PA cut its stake in General Dynamics Co. (NYSE:GD) by 38.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,727 shares of the aerospace company’s stock after selling 1,086 shares during the period. Berkshire Asset Management LLC PA’s holdings in General Dynamics were worth $460,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC grew its holdings in shares of General Dynamics by 15.3% during the 4th quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock valued at $2,553,000 after purchasing an additional 1,283 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its stake in shares of General Dynamics by 67.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock valued at $2,583,000 after acquiring an additional 3,448 shares during the last quarter. Kentucky Trust Co acquired a new position in shares of General Dynamics during the fourth quarter worth $607,000. Oppenheimer & Co. Inc. grew its stake in shares of General Dynamics by 10.0% in the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock worth $11,204,000 after purchasing an additional 3,363 shares during the last quarter. Finally, Hickory Point Bank & Trust acquired a new stake in General Dynamics in the fourth quarter valued at $692,000. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Up 2.7 %

Shares of NYSE GD opened at $271.82 on Friday. 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 company has a 50-day moving average price of $257.80 and a 200-day moving average price of $279.99. The stock has a market capitalization of $73.49 billion, a P/E ratio of 19.93, a P/E/G ratio of 1.69 and a beta of 0.59. General Dynamics Co. has a 1 year low of $239.87 and a 1 year high of $316.90.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 research analysts forecast that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be given a $1.50 dividend. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Friday, April 11th. General Dynamics’s dividend payout ratio is presently 41.64%.

General Dynamics declared that its board has initiated a stock repurchase plan on Wednesday, December 4th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have commented on the company. Wells Fargo & Company lifted their target price on General Dynamics from $244.00 to $261.00 and gave the stock an “equal weight” rating in a report on Friday. William Blair cut General Dynamics from an “outperform” rating to a “market perform” rating in a report on Friday, February 21st. TD Cowen decreased their price target on General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. Robert W. Baird reissued a “neutral” rating and issued a $283.00 price objective (down from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. decreased their target price on General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Dynamics presently has an average rating of “Hold” and an average target price of $297.71.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of the company’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 completion of the sale, the director now directly owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. This represents a 13.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

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.