Exchange Capital Management Inc. Trims Position in General Dynamics Co. (NYSE:GD)

Exchange Capital Management Inc. lessened its stake in shares of General Dynamics Co. (NYSE:GD) by 0.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,890 shares of the aerospace company’s stock after selling 54 shares during the quarter. Exchange Capital Management Inc.’s holdings in General Dynamics were worth $2,869,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Hara Capital LLC purchased a new position in shares of General Dynamics during the third quarter worth about $26,000. Financial Life Planners purchased a new stake in General Dynamics in the fourth quarter worth approximately $25,000. Heck Capital Advisors LLC purchased a new stake in General Dynamics in the fourth quarter worth approximately $28,000. Sugar Maple Asset Management LLC purchased a new stake in General Dynamics in the fourth quarter worth approximately $28,000. Finally, True Wealth Design LLC purchased a new stake in General Dynamics in the third quarter worth approximately $34,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. BTIG Research downgraded General Dynamics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 13th. TD Cowen lowered their price objective on General Dynamics from $315.00 to $295.00 in a research report on Tuesday, January 28th. The Goldman Sachs Group lowered their price objective on General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a research report on Tuesday, January 28th. Finally, Jefferies Financial Group restated a “hold” rating and set a $300.00 target price (down previously from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, General Dynamics presently has a consensus rating of “Hold” and an average target price of $298.59.

General Dynamics Trading Up 1.3 %

NYSE GD opened at $246.24 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 12 month low of $239.87 and a 12 month high of $316.90. The stock has a market cap of $66.57 billion, a P/E ratio of 18.05, a P/E/G ratio of 1.69 and a beta of 0.61. The stock’s fifty day moving average price is $259.28 and its 200-day moving average price is $282.18.

General Dynamics (NYSE:GD) last released its quarterly earnings data 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%. As a group, equities analysts forecast that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is currently 41.64%.

General Dynamics declared that its board has authorized a stock repurchase plan 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. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at General Dynamics

In related news, Director Laura J. Schumacher sold 1,796 shares of General Dynamics stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.60% 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.