Eliot Finkel Investment Counsel LLC Has $7.23 Million Stake in General Dynamics Co. (NYSE:GD)

Eliot Finkel Investment Counsel LLC cut its stake in General Dynamics Co. (NYSE:GD) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,422 shares of the aerospace company’s stock after selling 290 shares during the quarter. General Dynamics accounts for about 4.6% of Eliot Finkel Investment Counsel LLC’s investment portfolio, making the stock its 5th largest holding. Eliot Finkel Investment Counsel LLC’s holdings in General Dynamics were worth $7,225,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp grew its position in General Dynamics by 9.4% during the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock valued at $3,307,612,000 after buying an additional 943,247 shares during the period. Geode Capital Management LLC grew its position in General Dynamics by 13.0% during the third quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock valued at $1,674,998,000 after buying an additional 638,342 shares during the period. Two Sigma Advisers LP grew its position in General Dynamics by 117.0% during the third 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. Barclays PLC grew its position in General Dynamics by 43.1% during the third quarter. Barclays PLC now owns 942,485 shares of the aerospace company’s stock valued at $284,818,000 after buying an additional 283,972 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in General Dynamics by 2.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock valued at $2,366,124,000 after buying an additional 189,904 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Insider Activity at General Dynamics

In related news, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following 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 Securities & Exchange Commission, which is available through this link. 1.52% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GD shares. Vertical Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating and cut their target price for the company from $352.00 to $290.00 in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Barclays dropped 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. Jefferies Financial Group reiterated a “hold” rating and issued a $300.00 price target (down from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $283.00 price target (down from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $296.71.

General Dynamics Price Performance

GD stock opened at $252.87 on Friday. The company has a market capitalization of $68.36 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 1.69 and a beta of 0.61. The company’s fifty day moving average price is $258.31 and its 200-day moving average price is $281.09. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. General Dynamics Co. has a one year low of $239.87 and a one year high of $316.90.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, equities analysts anticipate that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

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

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Friday, January 17th. General Dynamics’s payout ratio is 41.64%.

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.