Sippican Capital Advisors Decreases Holdings in General Dynamics Co. (NYSE:GD)

Sippican Capital Advisors lowered its stake in General Dynamics Co. (NYSE:GD) by 1.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,737 shares of the aerospace company’s stock after selling 45 shares during the quarter. Sippican Capital Advisors’ holdings in General Dynamics were worth $721,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. MFA Wealth Advisors LLC boosted its holdings in shares of General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after buying an additional 58 shares during the period. Hara Capital LLC acquired a new position in shares of General Dynamics in the 3rd quarter worth approximately $26,000. Lowe Wealth Advisors LLC acquired a new stake in shares of General Dynamics during the third quarter worth $30,000. Sugar Maple Asset Management LLC acquired a new stake in shares of General Dynamics during the fourth quarter valued at approximately $28,000. Finally, True Wealth Design LLC purchased a new stake in shares of General Dynamics in the third quarter valued at $34,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

Shares of NYSE GD opened at $251.52 on Thursday. General Dynamics Co. has a 52 week low of $247.01 and a 52 week high of $316.90. The stock has a market capitalization of $69.16 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 1.43 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. The stock has a 50 day moving average price of $268.57 and a 200 day moving average price of $287.48.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. Analysts predict that General Dynamics Co. will post 13.66 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a $1.42 dividend. The ex-dividend date is Friday, January 17th. This represents a $5.68 annualized dividend and a yield of 2.26%. General Dynamics’s dividend payout ratio is currently 43.26%.

General Dynamics announced that its board has authorized a stock repurchase plan on Wednesday, December 4th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

GD has been the topic of a number of recent research reports. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Wells Fargo & Company lowered their price objective on shares of General Dynamics from $295.00 to $279.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. The Goldman Sachs Group reduced their target price on General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a research report on Tuesday. Finally, UBS Group cut their price objective on General Dynamics from $337.00 to $281.00 and set a “neutral” rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $303.71.

Insider Transactions at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value 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. The trade was a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.52% 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.