Pittenger & Anderson Inc. Has $1 Million Stock Holdings in General Dynamics Co. (NYSE:GD)

Pittenger & Anderson Inc. grew its position in General Dynamics Co. (NYSE:GD) by 3.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,810 shares of the aerospace company’s stock after buying an additional 113 shares during the period. Pittenger & Anderson Inc.’s holdings in General Dynamics were worth $1,004,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GD. International Assets Investment Management LLC grew its holdings in General Dynamics by 40,389.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock worth $416,876,000 after acquiring an additional 1,376,065 shares during the period. State Street Corp grew its stake in shares of General Dynamics by 9.4% during the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock worth $3,307,612,000 after purchasing an additional 943,247 shares during the period. Geode Capital Management LLC increased its holdings in General Dynamics by 13.0% in the third quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock valued at $1,674,998,000 after purchasing an additional 638,342 shares during the last quarter. Two Sigma Advisers LP lifted its stake in General Dynamics by 117.0% in the third quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company’s stock valued at $259,469,000 after buying an additional 463,000 shares during the period. Finally, Barclays PLC boosted its holdings in General Dynamics by 43.1% during the third quarter. Barclays PLC now owns 942,485 shares of the aerospace company’s stock worth $284,818,000 after buying an additional 283,972 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other news, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following the sale, the director now directly owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. This 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 the SEC website. Also, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the transaction, the vice president now owns 20,296 shares of the company’s stock, valued at $5,701,349.36. The trade was a 21.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on GD. Jefferies Financial Group reiterated a “hold” rating and issued a $300.00 price target (down from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Robert W. Baird reiterated a “neutral” rating and issued a $283.00 target price (down from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. Baird R W lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Wolfe Research downgraded General Dynamics from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 11th. Finally, TD Cowen decreased their target price on General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $298.59.

General Dynamics Stock Down 1.7 %

General Dynamics stock opened at $241.98 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 1-year low of $239.87 and a 1-year high of $316.90. The company has a fifty day simple moving average of $261.96 and a 200 day simple moving average of $284.09. The company has a market cap of $66.54 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 1.61 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share 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%. Research analysts anticipate that General Dynamics Co. will post 14.84 earnings per share for the current fiscal year.

General Dynamics declared that its board has approved a share buyback program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were paid a $1.42 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.35%. General Dynamics’s dividend payout ratio is presently 41.64%.

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.