General Dynamics Co. (NYSE:GD) Shares Sold by Lummis Asset Management LP

Lummis Asset Management LP lessened its position in shares of General Dynamics Co. (NYSE:GD) by 25.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,680 shares of the aerospace company’s stock after selling 2,688 shares during the period. General Dynamics comprises 2.6% of Lummis Asset Management LP’s portfolio, making the stock its 12th largest position. Lummis Asset Management LP’s holdings in General Dynamics were worth $2,024,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in GD. Coston McIsaac & Partners boosted its holdings in General Dynamics by 22.8% in the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after purchasing an additional 33 shares during the period. Global X Japan Co. Ltd. grew its position in shares of General Dynamics by 2.3% during the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock valued at $448,000 after buying an additional 33 shares during the last quarter. Grove Bank & Trust raised its stake in General Dynamics by 10.6% during the third quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after acquiring an additional 34 shares during the period. Trueblood Wealth Management LLC lifted its holdings in General Dynamics by 1.6% in the third quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock worth $672,000 after acquiring an additional 34 shares during the last quarter. Finally, Jeppson Wealth Management LLC boosted its stake in General Dynamics by 3.8% in the third quarter. Jeppson Wealth Management LLC now owns 955 shares of the aerospace company’s stock valued at $289,000 after acquiring an additional 35 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Insider Transactions at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction that occurred 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 in the company, 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 document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is currently owned by insiders.

General Dynamics Stock Performance

Shares of GD opened at $266.86 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 stock has a market capitalization of $73.38 billion, a P/E ratio of 20.32, a P/E/G ratio of 1.38 and a beta of 0.61. General Dynamics Co. has a 12-month low of $247.36 and a 12-month high of $316.90. The firm’s 50 day moving average is $273.71 and its 200-day moving average is $288.32.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The company had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last year, the firm earned $3.04 earnings per share. Equities research analysts anticipate that General Dynamics Co. will post 13.81 EPS for the current fiscal year.

General Dynamics declared that its board has approved a stock repurchase plan on Wednesday, December 4th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a $1.42 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.13%. General Dynamics’s dividend payout ratio (DPR) is presently 43.26%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. 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 report on Thursday, December 12th. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Baird R W cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Wells Fargo & Company cut their price target on General Dynamics from $295.00 to $279.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.