Legacy Trust Has $249,000 Stock Holdings in General Dynamics Co. (NYSE:GD)

Legacy Trust lowered its position in shares of General Dynamics Co. (NYSE:GD) by 19.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 945 shares of the aerospace company’s stock after selling 230 shares during the quarter. Legacy Trust’s holdings in General Dynamics were worth $249,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Coston McIsaac & Partners grew 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 buying an additional 33 shares during the period. Global X Japan Co. Ltd. lifted 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 worth $448,000 after acquiring an additional 33 shares in the last quarter. Grove Bank & Trust increased its holdings in shares of 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 acquiring an additional 34 shares in the last quarter. Trueblood Wealth Management LLC raised its position in shares of 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 purchasing an additional 34 shares during the period. Finally, Jeppson Wealth Management LLC raised its position in shares of General Dynamics by 3.8% during the third quarter. Jeppson Wealth Management LLC now owns 955 shares of the aerospace company’s stock worth $289,000 after purchasing an additional 35 shares during the period. Institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GD. Barclays lowered their target price 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. TD Cowen dropped their price objective on shares of General Dynamics from $315.00 to $295.00 in a report on Tuesday. Vertical Research cut shares of General Dynamics from a “buy” rating to a “hold” rating and cut their price objective for the company from $352.00 to $290.00 in a research report on Monday, January 6th. UBS Group lowered their target price on General Dynamics from $337.00 to $281.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Royal Bank of Canada lowered General Dynamics from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $330.00 to $290.00 in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $303.71.

General Dynamics Stock Performance

Shares of GD stock opened at $251.52 on Thursday. The stock has a market cap of $69.16 billion, a P/E ratio of 19.16, a P/E/G ratio of 1.43 and a beta of 0.61. The company has a fifty day moving average price of $268.57 and a two-hundred day moving average price of $287.48. General Dynamics Co. has a one year low of $247.01 and a one year high of $316.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. As a group, equities analysts predict that General Dynamics Co. will post 13.66 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is presently 43.26%.

General Dynamics declared that its Board of Directors has authorized a share buyback program on Wednesday, December 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction dated 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 transaction, the vice president now directly owns 20,296 shares of the company’s stock, valued at $5,701,349.36. This represents a 21.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.52% of the company’s stock.

General Dynamics Company 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.