MassMutual Private Wealth & Trust FSB Reduces Stake in General Dynamics Co. (NYSE:GD)

MassMutual Private Wealth & Trust FSB lessened its position in shares of General Dynamics Co. (NYSE:GD) by 16.6% in the fourth quarter, Holdings Channel reports. The fund owned 12,116 shares of the aerospace company’s stock after selling 2,413 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in General Dynamics were worth $3,192,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. MFA Wealth Advisors LLC grew its position in shares of General Dynamics by 241.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 58 shares during the period. Hara Capital LLC purchased a new position in General Dynamics during the third quarter valued at $26,000. Lowe Wealth Advisors LLC bought a new stake in General Dynamics during the third quarter valued at about $30,000. True Wealth Design LLC purchased a new stake in General Dynamics in the third quarter worth about $34,000. Finally, Coston McIsaac & Partners raised its stake in shares of General Dynamics by 22.8% in the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after buying an additional 33 shares during the period. Institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Barclays reduced their target price on shares of General Dynamics from $330.00 to $305.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Susquehanna reduced their price objective on shares of General Dynamics from $330.00 to $315.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Jefferies Financial Group restated a “hold” rating and set a $300.00 target price (down previously from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft cut their price target on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Finally, TD Cowen raised General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $304.53.

Insider Transactions at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction that occurred on 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 sale, the vice president now directly owns 20,296 shares in the company, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

General Dynamics Stock Down 0.7 %

Shares of NYSE:GD opened at $266.86 on Tuesday. The company has a market cap of $73.38 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 1.38 and a beta of 0.61. General Dynamics Co. has a 12 month low of $247.36 and a 12 month high of $316.90. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $272.86 and a 200 day moving average price of $288.21.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. During the same period in the previous year, the business earned $3.04 earnings per share. General Dynamics’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, equities research analysts predict that General Dynamics Co. will post 13.81 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s dividend payout ratio is currently 43.26%.

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 purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

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.