State of Alaska Department of Revenue Lowers Stake in General Dynamics Co. (NYSE:GD)

State of Alaska Department of Revenue cut its position in General Dynamics Co. (NYSE:GD) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,481 shares of the aerospace company’s stock after selling 1,785 shares during the period. State of Alaska Department of Revenue’s holdings in General Dynamics were worth $9,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in General Dynamics by 0.8% during the third quarter. Wellington Management Group LLP now owns 14,205,330 shares of the aerospace company’s stock valued at $4,292,851,000 after acquiring an additional 109,618 shares during the period. State Street Corp grew its position in shares of General Dynamics by 9.4% during the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock worth $3,307,612,000 after purchasing an additional 943,247 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in General Dynamics by 2.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock worth $2,366,124,000 after purchasing an additional 189,904 shares in the last quarter. Geode Capital Management LLC boosted its stake in General Dynamics by 13.0% in the 3rd quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock worth $1,674,998,000 after purchasing an additional 638,342 shares during the period. Finally, FMR LLC grew its holdings in General Dynamics by 0.5% during the 3rd quarter. FMR LLC now owns 4,940,537 shares of the aerospace company’s stock valued at $1,493,030,000 after buying an additional 24,464 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Price Performance

Shares of GD stock opened at $255.41 on Friday. The stock has a 50 day moving average price of $265.60 and a 200 day moving average price of $286.09. General Dynamics Co. has a 52-week low of $247.01 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. The firm has a market capitalization of $70.23 billion, a P/E ratio of 18.72, a P/E/G ratio of 1.46 and a beta of 0.61.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) 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%. As a group, sell-side analysts predict that General Dynamics Co. will post 14.88 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is presently 41.64%.

General Dynamics announced that its Board of Directors has approved a stock repurchase plan on Wednesday, December 4th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the aerospace company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

GD has been the subject of a number of research reports. Barclays dropped their target price on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating for the company in a research report on Tuesday. Jefferies Financial Group reissued a “hold” rating and set a $300.00 price objective (down previously from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Citigroup lifted their target price on General Dynamics from $354.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. UBS Group cut their price target on General Dynamics from $337.00 to $281.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Finally, Susquehanna decreased their price objective on General Dynamics from $315.00 to $300.00 and set a “positive” rating on the stock in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $300.06.

Insider Transactions at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the sale, the vice president now owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the sale, the director now owns 11,175 shares of the company’s stock, valued at $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

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.