Amalgamated Bank Decreases Position in General Dynamics Co. (NYSE:GD)

Amalgamated Bank reduced its stake in shares of General Dynamics Co. (NYSE:GD) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,650 shares of the aerospace company’s stock after selling 3,615 shares during the quarter. Amalgamated Bank’s holdings in General Dynamics were worth $13,609,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC grew its stake in shares of General Dynamics by 15.3% during the fourth quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock valued at $2,553,000 after acquiring an additional 1,283 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in General Dynamics by 67.6% in the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock valued at $2,583,000 after purchasing an additional 3,448 shares during the last quarter. Olstein Capital Management L.P. grew its stake in General Dynamics by 36.4% during the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock valued at $4,533,000 after purchasing an additional 4,000 shares in the last quarter. Kentucky Trust Co purchased a new stake in General Dynamics during the 4th quarter worth approximately $607,000. Finally, Oppenheimer & Co. Inc. raised its position in shares of General Dynamics by 10.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock valued at $11,204,000 after purchasing an additional 3,363 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Performance

GD stock opened at $249.83 on Wednesday. General Dynamics Co. has a 1 year low of $239.87 and a 1 year high of $316.90. The stock has a market capitalization of $67.54 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 1.69 and a beta of 0.61. 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 stock’s fifty day moving average is $258.97 and its two-hundred day moving average is $281.88.

General Dynamics (NYSE:GD) last issued 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%. On average, research analysts predict that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is 41.64%.

General Dynamics announced that its Board of Directors has authorized a share repurchase program on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GD shares. Barclays decreased their price target on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Royal Bank of Canada cut their target price on shares of General Dynamics from $290.00 to $280.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 30th. William Blair downgraded General Dynamics from an “outperform” rating to a “market perform” rating in a research note on Friday, February 21st. Finally, TD Cowen cut their price objective on General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $298.59.

Insider Activity at General Dynamics

In related 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 completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is 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.