Tompkins Financial Corp Has $7.10 Million Stake in General Dynamics Co. (NYSE:GD)

Tompkins Financial Corp raised its position in General Dynamics Co. (NYSE:GD) by 3.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 26,955 shares of the aerospace company’s stock after purchasing an additional 884 shares during the quarter. Tompkins Financial Corp’s holdings in General Dynamics were worth $7,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of GD. MFA Wealth Advisors LLC boosted its position in General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 58 shares during the period. Hara Capital LLC acquired a new stake in shares of General Dynamics during the 3rd quarter worth about $26,000. Lowe Wealth Advisors LLC bought a new stake in shares of General Dynamics during the 3rd quarter worth about $30,000. True Wealth Design LLC acquired a new position in General Dynamics in the 3rd quarter valued at about $34,000. Finally, Coston McIsaac & Partners raised its holdings in 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 acquiring an additional 33 shares during the period. Institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

GD has been the topic of several research reports. Vertical Research downgraded General Dynamics from a “buy” rating to a “hold” rating and decreased their target price for the company from $352.00 to $290.00 in a research report on Monday, January 6th. Wolfe Research lowered General Dynamics from an “outperform” rating to a “peer perform” rating in a report on Wednesday, December 11th. Jefferies Financial Group reissued a “hold” rating and set a $300.00 target price (down previously from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Citigroup boosted their target price on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, General Dynamics has a consensus rating of “Hold” and a consensus price target of $304.53.

General Dynamics Price Performance

Shares of GD stock opened at $268.97 on Friday. The business has a fifty day simple moving average of $274.45 and a 200 day simple moving average of $288.45. The company has a market cap of $73.96 billion, a P/E ratio of 20.49, a P/E/G ratio of 1.38 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. General Dynamics Co. has a twelve month low of $247.36 and a twelve month high of $316.90.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The company had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same period last year, the company posted $3.04 EPS. On average, sell-side analysts forecast that General Dynamics Co. will post 13.81 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a dividend of $1.42 per share. The ex-dividend date is Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.11%. General Dynamics’s dividend payout ratio (DPR) is presently 43.26%.

General Dynamics declared that its board has initiated a stock buyback plan on Wednesday, December 4th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the transaction, the vice president now owns 20,296 shares in the company, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.52% of the stock is 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.