General Dynamics Co. (NYSE:GD) Shares Sold by Camden National Bank

Camden National Bank reduced its holdings in shares of General Dynamics Co. (NYSE:GD) by 5.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,174 shares of the aerospace company’s stock after selling 70 shares during the period. Camden National Bank’s holdings in General Dynamics were worth $309,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Jeppson Wealth Management LLC grew its position in General Dynamics by 3.8% during the third quarter. Jeppson Wealth Management LLC now owns 955 shares of the aerospace company’s stock valued at $289,000 after acquiring an additional 35 shares during the period. Community Bank N.A. grew its position in General Dynamics by 0.6% during the third quarter. Community Bank N.A. now owns 5,461 shares of the aerospace company’s stock valued at $1,650,000 after acquiring an additional 35 shares during the period. Freedom Investment Management Inc. grew its position in General Dynamics by 0.9% during the third 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. Purus Wealth Management LLC grew its position in General Dynamics by 1.5% during the fourth quarter. Purus Wealth Management LLC now owns 2,660 shares of the aerospace company’s stock valued at $701,000 after acquiring an additional 39 shares during the period. Finally, Verdence Capital Advisors LLC grew its position in General Dynamics by 0.5% during the third quarter. Verdence Capital Advisors LLC now owns 8,450 shares of the aerospace company’s stock valued at $2,554,000 after acquiring an additional 40 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Up 2.7 %

GD opened at $271.82 on Friday. General Dynamics Co. has a 12 month low of $239.87 and a 12 month high of $316.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. The stock has a market cap of $73.49 billion, a P/E ratio of 19.93, a P/E/G ratio of 1.69 and a beta of 0.59. The stock’s 50 day moving average price is $257.80 and its 200 day moving average price is $279.99.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 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%. As a group, research analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be given a $1.50 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 annualized dividend and a yield of 2.21%. The ex-dividend date is Friday, April 11th. General Dynamics’s dividend payout ratio (DPR) is currently 41.64%.

General Dynamics declared that its Board of Directors has initiated a share repurchase plan on Wednesday, December 4th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the aerospace company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GD. Baird R W downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. The Goldman Sachs Group lowered their price target on General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a research report on Tuesday, January 28th. UBS Group lowered their price target on General Dynamics from $337.00 to $281.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Barclays decreased their target price on General Dynamics from $305.00 to $285.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Finally, BTIG Research downgraded General Dynamics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, General Dynamics currently has a consensus rating of “Hold” and an average target price of $297.71.

Insider Activity at General Dynamics

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the transaction, the director now directly owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by insiders.

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.