Signaturefd LLC Cuts Stock Holdings in General Dynamics Co. (NYSE:GD)

Signaturefd LLC reduced its position in shares of General Dynamics Co. (NYSE:GD) by 4.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,926 shares of the aerospace company’s stock after selling 237 shares during the period. Signaturefd LLC’s holdings in General Dynamics were worth $1,298,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in General Dynamics by 9.4% in the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock valued at $3,307,612,000 after buying an additional 943,247 shares in the last quarter. Raymond James Financial Inc. purchased a new position in General Dynamics in the fourth quarter valued at about $197,238,000. Geode Capital Management LLC increased its holdings in General Dynamics by 13.0% in the third quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock valued at $1,674,998,000 after buying an additional 638,342 shares in the last quarter. Two Sigma Advisers LP increased its holdings in General Dynamics by 117.0% in the third quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company’s stock valued at $259,469,000 after buying an additional 463,000 shares in the last quarter. Finally, Barclays PLC increased its holdings in General Dynamics by 43.1% in the third quarter. Barclays PLC now owns 942,485 shares of the aerospace company’s stock valued at $284,818,000 after buying an additional 283,972 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on GD. JPMorgan Chase & Co. dropped their target price 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. Citigroup lowered their price target on shares of General Dynamics from $360.00 to $335.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. The Goldman Sachs Group lowered their price target on shares of General Dynamics from $245.00 to $241.00 and set a “sell” rating on the stock in a research report on Tuesday, January 28th. Wells Fargo & Company increased their price target on shares of General Dynamics from $244.00 to $261.00 and gave the company an “equal weight” rating in a research report on Friday, March 7th. Finally, TD Cowen lowered their price target on shares of General Dynamics from $315.00 to $295.00 in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $297.71.

Insider Buying and Selling at General Dynamics

In other news, Director Laura J. Schumacher sold 1,796 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following the transaction, the director now owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the completion of the transaction, the senior vice president now directly owns 45,192 shares in the company, valued at approximately $12,297,195.12. This represents a 37.88 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is owned by company insiders.

General Dynamics Stock Up 0.9 %

Shares of GD opened at $267.51 on Wednesday. The firm has a market cap of $72.32 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. The company’s fifty day moving average is $258.20 and its two-hundred day moving average is $278.32. General Dynamics Co. has a fifty-two week low of $239.87 and a fifty-two week high of $316.90. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last announced its quarterly 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%. Analysts forecast that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Friday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s dividend payout ratio (DPR) is 43.99%.

General Dynamics announced that its board has authorized a stock buyback program on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.