Zurcher Kantonalbank Zurich Cantonalbank Has $15.03 Million Stake in General Dynamics Co. (NYSE:GD)

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in shares of General Dynamics Co. (NYSE:GD) by 1.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 57,056 shares of the aerospace company’s stock after selling 843 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in General Dynamics were worth $15,034,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new stake in General Dynamics in the 4th quarter valued at approximately $25,000. Whipplewood Advisors LLC acquired a new stake in General Dynamics in the 4th quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in General Dynamics in the 4th quarter valued at approximately $26,000. Heck Capital Advisors LLC bought a new stake in shares of General Dynamics in the 4th quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of General Dynamics in the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Down 1.5 %

NYSE GD opened at $260.21 on Thursday. The stock has a fifty day moving average of $257.92 and a 200-day moving average of $279.30. The stock has a market capitalization of $70.35 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. General Dynamics Co. has a 52 week low of $239.87 and a 52 week high of $316.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing the consensus estimate 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 year.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, April 11th. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.31%. General Dynamics’s payout ratio is 43.99%.

General Dynamics declared that its board has authorized a stock buyback program on Wednesday, December 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Citigroup reduced their price objective on General Dynamics from $360.00 to $335.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Robert W. Baird reiterated a “neutral” rating and issued a $283.00 price objective (down previously from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. Wells Fargo & Company raised their price objective on General Dynamics from $244.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Friday, March 7th. Finally, TD Cowen reduced their price objective on 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 assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $297.71.

Insider Buying and Selling

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction on Monday, March 10th. The stock was sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the completion of the sale, the senior vice president now directly owns 45,192 shares of the company’s stock, valued at $12,297,195.12. The trade was a 37.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Laura J. Schumacher sold 1,796 shares of General Dynamics stock in a transaction dated Friday, January 31st. The stock was 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 in the company, valued at approximately $2,857,224. This represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is owned by insiders.

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.