General Dynamics Co. (NYSE:GD) Shares Acquired by FineMark National Bank & Trust

FineMark National Bank & Trust boosted its stake in General Dynamics Co. (NYSE:GD) by 2.0% in the fourth quarter, Holdings Channel reports. The fund owned 5,887 shares of the aerospace company’s stock after buying an additional 114 shares during the quarter. FineMark National Bank & Trust’s holdings in General Dynamics were worth $1,551,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of GD. Financial Life Planners purchased a new stake in shares of General Dynamics during the fourth quarter worth about $25,000. Whipplewood Advisors LLC acquired a new stake in General Dynamics during the 4th quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in General Dynamics during the 4th quarter worth approximately $26,000. Heck Capital Advisors LLC acquired a new position in shares of General Dynamics in the 4th quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of General Dynamics during the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Trading Up 0.7 %

General Dynamics stock opened at $267.61 on Wednesday. The firm has a 50-day moving average price of $258.60 and a two-hundred day moving average price of $277.27. General Dynamics Co. has a 52-week low of $239.87 and a 52-week high of $316.90. The firm has a market capitalization of $72.35 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 1.69 and a beta of 0.59. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last issued 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 return on equity of 17.10% and a net margin of 7.93%. Sell-side analysts expect that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics announced that its board has approved a share repurchase program 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. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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. 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 2.24%. The ex-dividend date of this dividend is Friday, April 11th. General Dynamics’s payout ratio is currently 43.99%.

Insider Buying and Selling

In related news, Director Laura J. Schumacher sold 1,796 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of the business’s stock in a transaction dated 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 owns 45,192 shares in the company, valued at approximately $12,297,195.12. This trade represents a 37.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

GD has been the topic of several recent analyst reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $283.00 price target (down from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. Jefferies Financial Group restated a “hold” rating and issued a $300.00 target price (down previously from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. BTIG Research downgraded General Dynamics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 13th. Susquehanna cut their price objective on General Dynamics from $315.00 to $300.00 and set a “positive” rating on the stock in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group decreased 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, January 28th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $297.71.

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.