Sentry Investment Management LLC Lowers Holdings in General Dynamics Co. (NYSE:GD)

Sentry Investment Management LLC lessened its position in shares of General Dynamics Co. (NYSE:GD) by 30.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 763 shares of the aerospace company’s stock after selling 335 shares during the period. Sentry Investment Management LLC’s holdings in General Dynamics were worth $201,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the business. Jeppson Wealth Management LLC raised its holdings in General Dynamics by 3.8% in the 3rd 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. Community Bank N.A. raised its stake in shares of General Dynamics by 0.6% during the 3rd quarter. Community Bank N.A. now owns 5,461 shares of the aerospace company’s stock worth $1,650,000 after buying an additional 35 shares during the period. United Asset Strategies Inc. raised its stake in shares of General Dynamics by 1.2% during the 3rd quarter. United Asset Strategies Inc. now owns 3,013 shares of the aerospace company’s stock worth $911,000 after buying an additional 37 shares during the period. Forum Financial Management LP lifted its position in shares of General Dynamics by 1.8% during the 3rd quarter. Forum Financial Management LP now owns 2,042 shares of the aerospace company’s stock valued at $617,000 after buying an additional 37 shares in the last quarter. Finally, Freedom Investment Management Inc. grew its stake in General Dynamics by 0.9% in the 3rd quarter. Freedom Investment Management Inc. now owns 4,344 shares of the aerospace company’s stock valued at $1,313,000 after acquiring an additional 37 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Price Performance

NYSE:GD opened at $249.83 on Wednesday. General Dynamics Co. has a 52 week low of $239.87 and a 52 week high of $316.90. The stock’s fifty day moving average is $258.97 and its two-hundred day moving average is $281.88. The company has a market capitalization of $67.54 billion, a P/E ratio of 18.32, a P/E/G ratio of 1.69 and a beta of 0.61. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) 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%. Equities analysts expect that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

General Dynamics Announces Dividend

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

Insider Buying and Selling

In related news, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the transaction, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group reduced their price objective on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. TD Cowen reduced their price target on shares of General Dynamics from $315.00 to $295.00 in a research report on Tuesday, January 28th. Jefferies Financial Group reiterated a “hold” rating and issued a $300.00 price objective (down from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. William Blair downgraded General Dynamics from an “outperform” rating to a “market perform” rating in a research report on Friday, February 21st. Finally, Citigroup reduced their price objective on General Dynamics from $360.00 to $335.00 and set a “buy” rating for the company in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $298.59.

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.