Amalgamated Bank Decreases Position in General Dynamics Co. (NYSE:GD)

Amalgamated Bank decreased its stake in General Dynamics Co. (NYSE:GD) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 56,550 shares of the aerospace company’s stock after selling 2,822 shares during the quarter. Amalgamated Bank’s holdings in General Dynamics were worth $14,684,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Briaud Financial Planning Inc purchased a new position in General Dynamics during the third quarter worth $27,000. Rakuten Securities Inc. purchased a new position in shares of General Dynamics during the 4th quarter worth about $38,000. Wetzel Investment Advisors Inc. bought a new position in General Dynamics during the 4th quarter valued at about $38,000. Operose Advisors LLC purchased a new stake in General Dynamics in the 3rd quarter worth about $40,000. Finally, Rational Advisors LLC purchased a new position in shares of General Dynamics during the third quarter valued at approximately $42,000. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Up 0.3 %

Shares of GD traded up $0.78 during trading hours on Friday, hitting $288.14. The company had a trading volume of 973,927 shares, compared to its average volume of 1,116,386. General Dynamics Co. has a one year low of $202.35 and a one year high of $296.50. The company’s fifty day moving average price is $282.18 and its two-hundred day moving average price is $263.05. The company has a market capitalization of $79.05 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 1.79 and a beta of 0.67. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The firm had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. During the same period in the previous year, the company posted $2.64 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts forecast that General Dynamics Co. will post 14.55 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be issued a $1.42 dividend. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, April 11th. General Dynamics’s payout ratio is currently 46.33%.

Insider Transactions at General Dynamics

In other news, CEO Phebe N. Novakovic sold 49,850 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the sale, the chief executive officer now owns 768,977 shares in the company, valued at $218,773,956.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the transaction, the chief executive officer now owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the sale, the vice president now directly owns 103,345 shares in the company, valued at $29,816,065.95. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

GD has been the topic of several recent analyst reports. Jefferies Financial Group upgraded General Dynamics from a “hold” rating to a “buy” rating and increased their price target for the stock from $305.00 to $335.00 in a report on Monday. StockNews.com downgraded General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Friday. Barclays upped their price target on shares of General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. The Goldman Sachs Group lifted their price objective on shares of General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Finally, Alembic Global Advisors downgraded shares of General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 target price on the stock. in a research note on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $297.06.

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.