Pitcairn Co. Has $456,000 Stake in General Dynamics Co. (NYSE:GD)

Pitcairn Co. reduced its stake in shares of General Dynamics Co. (NYSE:GD) by 7.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,732 shares of the aerospace company’s stock after selling 132 shares during the quarter. Pitcairn Co.’s holdings in General Dynamics were worth $456,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GD. Financial Life Planners acquired a new stake in shares of General Dynamics during the 4th quarter worth about $25,000. Whipplewood Advisors LLC acquired a new stake in shares of General Dynamics during the fourth quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of General Dynamics in the fourth quarter valued at approximately $26,000. Heck Capital Advisors LLC acquired a new position in shares of General Dynamics in the 4th quarter worth approximately $28,000. Finally, Hoey Investments Inc. bought a new stake in General Dynamics during the 4th quarter worth approximately $28,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Down 7.3 %

Shares of NYSE:GD opened at $249.94 on Friday. The company has a 50 day moving average price of $258.75 and a two-hundred day moving average price of $275.54. 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 company has a market capitalization of $67.08 billion, a PE ratio of 18.32, a PEG ratio of 1.69 and a beta of 0.43. General Dynamics Co. has a 52 week low of $239.87 and a 52 week high of $316.90.

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

General Dynamics Increases Dividend

The firm also recently announced 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 represents a $6.00 dividend on an annualized basis and a yield of 2.40%. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, April 11th. General Dynamics’s dividend payout ratio is presently 43.99%.

Analyst Ratings Changes

Several equities analysts have issued reports on GD shares. The Goldman Sachs Group cut 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. Barclays reduced their price target on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Baird R W cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Finally, UBS Group lowered their price target on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating for the company in a 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 issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $298.59.

Insiders Place Their Bets

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of the 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 transaction, the senior vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Laura J. Schumacher sold 1,796 shares of the business’s 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 completion of the sale, the director now owns 11,175 shares in the company, valued at $2,857,224. The trade was a 13.85 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.52% 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.