Trinity Legacy Partners LLC Cuts Stock Holdings in General Dynamics Co. (NYSE:GD)

Trinity Legacy Partners LLC lessened its holdings in General Dynamics Co. (NYSE:GD) by 7.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 889 shares of the aerospace company’s stock after selling 72 shares during the quarter. Trinity Legacy Partners LLC’s holdings in General Dynamics were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GD. Tandem Investment Advisors Inc. increased its holdings in shares of General Dynamics by 11.2% in the 4th quarter. Tandem Investment Advisors Inc. now owns 876 shares of the aerospace company’s stock valued at $231,000 after purchasing an additional 88 shares in the last quarter. Concurrent Investment Advisors LLC increased its holdings in General Dynamics by 2.0% in the fourth quarter. Concurrent Investment Advisors LLC now owns 15,479 shares of the aerospace company’s stock valued at $4,079,000 after buying an additional 300 shares in the last quarter. WealthBridge Capital Management LLC lifted its position in shares of General Dynamics by 29.1% during the 4th quarter. WealthBridge Capital Management LLC now owns 1,068 shares of the aerospace company’s stock valued at $282,000 after acquiring an additional 241 shares during the period. Corps Capital Advisors LLC purchased a new stake in shares of General Dynamics during the 4th quarter worth approximately $1,336,000. Finally, Private Advisor Group LLC grew its holdings in shares of General Dynamics by 23.6% in the 4th quarter. Private Advisor Group LLC now owns 22,462 shares of the aerospace company’s stock worth $5,919,000 after acquiring an additional 4,295 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Up 0.8 %

Shares of General Dynamics stock opened at $246.25 on Friday. The stock’s fifty day moving average is $260.08 and its 200-day moving average is $282.84. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $66.58 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a 12-month low of $239.87 and a 12-month high of $316.90.

General Dynamics (NYSE:GD) last released its quarterly earnings data 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%. Equities analysts anticipate that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics declared that its board has authorized a share buyback program on Wednesday, December 4th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 17th were given a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 2.31%. The ex-dividend date was Friday, January 17th. General Dynamics’s dividend payout ratio is 41.64%.

Insider Activity

In other news, Director Laura J. Schumacher sold 1,796 shares of General Dynamics stock in a transaction that occurred 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 $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.52% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GD has been the topic of a number of research analyst reports. UBS Group decreased their target price on General Dynamics from $337.00 to $281.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Vertical Research cut shares of General Dynamics from a “buy” rating to a “hold” rating and lowered their price objective for the company from $352.00 to $290.00 in a research note on Monday, January 6th. Jefferies Financial Group restated a “hold” rating and set a $300.00 target price (down from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Robert W. Baird reaffirmed a “neutral” rating and issued a $283.00 price target (down previously from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, General Dynamics presently has an average rating of “Hold” and a consensus target price of $298.59.

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.