General Dynamics Co. (NYSE:GD) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in shares of General Dynamics Co. (NYSE:GD) by 0.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,358 shares of the aerospace company’s stock after selling 205 shares during the period. State of New Jersey Common Pension Fund D’s holdings in General Dynamics were worth $22,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Global X Japan Co. Ltd. grew its holdings in General Dynamics by 2.3% during the third quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock worth $448,000 after acquiring an additional 33 shares during the period. Coston McIsaac & Partners grew its position in General Dynamics by 22.8% during the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after buying an additional 33 shares during the period. Trueblood Wealth Management LLC increased its holdings in General Dynamics by 1.6% in the third quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock valued at $672,000 after buying an additional 34 shares in the last quarter. Jeppson Wealth Management LLC grew its position 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 valued at $289,000 after acquiring an additional 35 shares during the period. Finally, Community Bank N.A. grew its holdings in General Dynamics by 0.6% in the third 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. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the transaction, the vice president now directly owns 20,296 shares of the company’s stock, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the completion of the sale, the director now directly owns 11,175 shares of the company’s stock, valued at $2,857,224. The trade was a 13.85 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Stock Performance

Shares of NYSE GD opened at $241.98 on Tuesday. The company has a market cap of $66.54 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 1.61 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. General Dynamics Co. has a 12 month low of $239.87 and a 12 month high of $316.90. The company has a 50-day simple moving average of $261.96 and a 200-day simple moving average of $284.09.

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%. On average, equities analysts anticipate that General Dynamics Co. will post 14.84 earnings per share for the current year.

General Dynamics declared that its Board of Directors has approved a stock repurchase program on Wednesday, December 4th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the aerospace company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 17th were paid a dividend of $1.42 per share. The ex-dividend date was Friday, January 17th. This represents a $5.68 annualized dividend and a yield of 2.35%. General Dynamics’s dividend payout ratio is presently 41.64%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Royal Bank of Canada cut their price target on shares of General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a report on Thursday, January 30th. Robert W. Baird reiterated a “neutral” rating and set a $283.00 price target (down from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. TD Cowen reduced their target price on shares of General Dynamics from $315.00 to $295.00 in a research report on Tuesday, January 28th. Susquehanna lowered their target price on General Dynamics from $315.00 to $300.00 and set a “positive” rating on the stock in a report on Thursday, January 30th. Finally, Baird R W lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, General Dynamics currently has an average 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.