Venturi Wealth Management LLC Sells 580 Shares of General Dynamics Co. (NYSE:GD)

Venturi Wealth Management LLC decreased its position in shares of General Dynamics Co. (NYSE:GD) by 28.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,472 shares of the aerospace company’s stock after selling 580 shares during the quarter. Venturi Wealth Management LLC’s holdings in General Dynamics were worth $388,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Trueblood Wealth Management LLC raised its position in 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 acquiring an additional 34 shares in the last quarter. Jeppson Wealth Management LLC increased its stake in shares of General Dynamics by 3.8% during 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 last quarter. Community Bank N.A. raised its holdings in shares of General Dynamics by 0.6% in the 3rd quarter. Community Bank N.A. now owns 5,461 shares of the aerospace company’s stock valued at $1,650,000 after purchasing an additional 35 shares during the period. United Asset Strategies Inc. lifted its stake in General Dynamics by 1.2% in the 3rd quarter. United Asset Strategies Inc. now owns 3,013 shares of the aerospace company’s stock valued at $911,000 after purchasing an additional 37 shares during the last quarter. Finally, Forum Financial Management LP grew its holdings in General Dynamics by 1.8% during the third quarter. Forum Financial Management LP now owns 2,042 shares of the aerospace company’s stock worth $617,000 after purchasing an additional 37 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GD. Susquehanna dropped their price objective on General Dynamics from $315.00 to $300.00 and set a “positive” rating on the stock in a research note on Thursday, January 30th. Wells Fargo & Company dropped their price target on General Dynamics from $279.00 to $276.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. Barclays reduced their price objective 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. TD Cowen decreased their price objective on shares of General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. Finally, Robert W. Baird restated a “neutral” rating and set a $283.00 target price (down previously from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, General Dynamics presently has a consensus rating of “Hold” and a consensus target price of $298.59.

Insider Activity at General Dynamics

In related news, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.52% of the stock is owned by insiders.

General Dynamics Stock Performance

Shares of NYSE:GD opened at $246.25 on Friday. 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 Co. has a 12-month low of $239.87 and a 12-month high of $316.90. The company’s 50 day moving average price is $260.08 and its two-hundred day moving average price is $282.84. The firm has a market cap of $66.58 billion, a PE ratio of 18.05, a PEG ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last issued 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 return on equity of 17.10% and a net margin of 7.93%. Equities research analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Friday, January 17th. General Dynamics’s payout ratio is currently 41.64%.

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

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.