General Dynamics Co. (NYSE:GD) Stock Position Lowered by Eliot Finkel Investment Counsel LLC

Eliot Finkel Investment Counsel LLC reduced its holdings in shares of General Dynamics Co. (NYSE:GD) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,422 shares of the aerospace company’s stock after selling 290 shares during the quarter. General Dynamics comprises 4.6% of Eliot Finkel Investment Counsel LLC’s investment portfolio, making the stock its 5th biggest position. Eliot Finkel Investment Counsel LLC’s holdings in General Dynamics were worth $7,225,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Empowered Funds LLC lifted its stake in General Dynamics by 15.3% in the 4th quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock worth $2,553,000 after purchasing an additional 1,283 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in General Dynamics by 67.6% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock worth $2,583,000 after purchasing an additional 3,448 shares in the last quarter. Olstein Capital Management L.P. lifted its stake in General Dynamics by 36.4% in the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock worth $4,533,000 after purchasing an additional 4,000 shares in the last quarter. Kentucky Trust Co purchased a new stake in General Dynamics in the 4th quarter worth approximately $607,000. Finally, Oppenheimer & Co. Inc. lifted its stake in General Dynamics by 10.0% in the 3rd 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 in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Trading Up 0.5 %

Shares of GD opened at $252.87 on Friday. The firm’s 50-day moving average price is $258.31 and its 200-day moving average price is $281.09. The firm has a market capitalization of $68.36 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.69 and a beta of 0.61. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 1-year low of $239.87 and a 1-year high of $316.90.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share 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%. Sell-side analysts anticipate 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. Investors of record on Friday, January 17th were given a dividend of $1.42 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a yield of 2.25%. General Dynamics’s dividend payout ratio (DPR) is currently 41.64%.

General Dynamics declared that its Board of Directors has initiated a stock repurchase program on Wednesday, December 4th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently weighed in on GD. Barclays lowered their price objective on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Baird R W cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. TD Cowen reduced their target price on shares of General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. Finally, Royal Bank of Canada reduced their target price on shares of General Dynamics from $290.00 to $280.00 and set a “sector perform” rating on the stock in a report 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $296.71.

Insider Activity at General Dynamics

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of General Dynamics 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 transaction, the director now directly owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. The trade was a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.52% of the stock is currently owned by corporate insiders.

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.