TD Private Client Wealth LLC Sells 626 Shares of General Dynamics Co. (NYSE:GD)

TD Private Client Wealth LLC lessened its position in shares of General Dynamics Co. (NYSE:GD) by 14.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,769 shares of the aerospace company’s stock after selling 626 shares during the quarter. TD Private Client Wealth LLC’s holdings in General Dynamics were worth $993,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. State Street Corp grew its position in General Dynamics by 9.4% in the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock worth $3,307,612,000 after acquiring an additional 943,247 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of General Dynamics in the 4th quarter worth approximately $197,238,000. Geode Capital Management LLC increased its position in shares of General Dynamics by 13.0% during the 3rd 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 raised its holdings in General Dynamics by 117.0% during the 3rd 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 lifted its position in General Dynamics by 43.1% in 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. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GD shares. Jefferies Financial Group reiterated a “hold” rating and set a $300.00 price objective (down previously from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Wolfe Research lowered shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. Wells Fargo & Company upped their target price on General Dynamics from $244.00 to $261.00 and gave the company an “equal weight” rating in a research note on Friday, March 7th. William Blair lowered 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 report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $297.71.

General Dynamics Stock Down 0.9 %

General Dynamics stock opened at $263.30 on Monday. 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 firm has a market cap of $71.18 billion, a P/E ratio of 19.30, a P/E/G ratio of 1.69 and a beta of 0.59. The business has a fifty day moving average of $258.50 and a two-hundred day moving average of $277.67. General Dynamics Co. has a twelve month low of $239.87 and a twelve month high of $316.90.

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 analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. On average, analysts forecast that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s payout ratio is 43.99%.

General Dynamics announced that its board has approved a stock 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. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at General Dynamics

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of the company’s 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 transaction, the senior vice president now directly owns 45,192 shares of the company’s stock, valued at $12,297,195.12. This represents a 37.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Laura J. Schumacher sold 1,796 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following 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. 1.52% of the stock is currently owned by corporate insiders.

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.