Legacy Financial Advisors Inc. Reduces Position in General Dynamics Co. (NYSE:GD)

Legacy Financial Advisors Inc. cut its holdings in shares of General Dynamics Co. (NYSE:GD) by 8.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,429 shares of the aerospace company’s stock after selling 408 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in General Dynamics were worth $1,167,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GD. Financial Life Planners bought a new stake in General Dynamics during the fourth quarter valued at approximately $25,000. Whipplewood Advisors LLC purchased a new position in shares of General Dynamics in the fourth quarter worth $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of General Dynamics in the fourth quarter worth $26,000. Heck Capital Advisors LLC purchased a new position in shares of General Dynamics in the fourth quarter worth $28,000. Finally, Hoey Investments Inc. purchased a new position in shares of General Dynamics in the fourth quarter worth $28,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

NYSE GD opened at $272.10 on Thursday. General Dynamics Co. has a 52 week low of $239.20 and a 52 week high of $316.90. The firm has a market capitalization of $73.03 billion, a P/E ratio of 19.95, a PEG ratio of 1.69 and a beta of 0.43. 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 company has a 50-day moving average price of $258.79 and a 200-day moving average price of $274.17.

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

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.21%. This is a positive change 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 currently 43.99%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GD. Wolfe Research downgraded shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 11th. UBS Group cut their price target on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Wells Fargo & Company cut their price target on shares of General Dynamics from $261.00 to $236.00 and set an “equal weight” rating on the stock in a report on Tuesday. The Goldman Sachs Group cut their price target on shares of General Dynamics from $245.00 to $241.00 and set a “sell” rating on the stock in a report on Tuesday, January 28th. Finally, Susquehanna lifted their price target on shares of General Dynamics from $300.00 to $315.00 and gave the company a “positive” rating in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $297.12.

Insider Buying and Selling

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $272.11, for a total value 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 $12,297,195.12. This represents a 37.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Laura J. Schumacher sold 1,796 shares of the 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 represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

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.