Koshinski Asset Management Inc. reduced its position in General Dynamics Co. (NYSE:GD - Free Report) by 45.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,424 shares of the aerospace company's stock after selling 2,882 shares during the quarter. Koshinski Asset Management Inc.'s holdings in General Dynamics were worth $902,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Coston McIsaac & Partners raised its holdings in shares of General Dynamics by 22.8% in the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company's stock valued at $53,000 after purchasing an additional 33 shares in the last quarter. Global X Japan Co. Ltd. increased its holdings in General Dynamics by 2.3% during the third quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company's stock valued at $448,000 after buying an additional 33 shares during the period. Grove Bank & Trust raised its stake in General Dynamics by 10.6% in the third quarter. Grove Bank & Trust now owns 354 shares of the aerospace company's stock worth $107,000 after buying an additional 34 shares in the last quarter. Trueblood Wealth Management LLC lifted its holdings in General Dynamics by 1.6% during the third quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company's stock worth $672,000 after buying an additional 34 shares during the period. Finally, Jeppson Wealth Management LLC boosted its position in General Dynamics by 3.8% during the 3rd quarter. Jeppson Wealth Management LLC now owns 955 shares of the aerospace company's stock valued at $289,000 after acquiring an additional 35 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE GD opened at $271.30 on Wednesday. The company has a 50 day simple moving average of $271.92 and a two-hundred day simple moving average of $288.09. The stock has a market cap of $74.60 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 1.41 and a beta of 0.61. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. General Dynamics Co. has a 12 month low of $247.88 and a 12 month high of $316.90.
General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). The business had revenue of $11.67 billion during the quarter, compared to analysts' expectations of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. General Dynamics's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.04 earnings per share. As a group, analysts predict that General Dynamics Co. will post 13.81 earnings per share for the current year.
General Dynamics announced that its board has approved a share buyback plan on Wednesday, December 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.09%. General Dynamics's payout ratio is 43.26%.
In related news, VP Christopher J. Brady sold 5,540 shares of the firm's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the sale, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. This trade represents a 21.44 % 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. 1.60% of the stock is owned by corporate insiders.
A number of equities research analysts recently weighed in on the company. Barclays decreased their price objective on General Dynamics from $330.00 to $305.00 and set an "overweight" rating for the company in a research note on Monday, January 6th. Vertical Research lowered shares of General Dynamics from a "buy" rating to a "hold" rating and decreased their price target for the company from $352.00 to $290.00 in a research report on Monday, January 6th. Robert W. Baird reaffirmed a "neutral" rating and issued a $283.00 price objective (down previously from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. Wolfe Research cut shares of General Dynamics from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, December 11th. Finally, The Goldman Sachs Group lowered shares of General Dynamics from a "neutral" rating to a "sell" rating and cut their price target for the stock from $283.00 to $245.00 in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $304.88.
Read Our Latest Report on 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.
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