Leisure Capital Management Sells 573 Shares of General Dynamics Co. (NYSE:GD)

Leisure Capital Management decreased its holdings in shares of General Dynamics Co. (NYSE:GD) by 19.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,434 shares of the aerospace company’s stock after selling 573 shares during the quarter. Leisure Capital Management’s holdings in General Dynamics were worth $641,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Fifth Third Wealth Advisors LLC increased its holdings in shares of General Dynamics by 67.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock worth $2,583,000 after buying an additional 3,448 shares in the last quarter. Olstein Capital Management L.P. grew its position in General Dynamics by 36.4% during the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock worth $4,533,000 after acquiring an additional 4,000 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in General Dynamics by 10.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock worth $11,204,000 after purchasing an additional 3,363 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in General Dynamics by 69.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company’s stock valued at $69,032,000 after purchasing an additional 107,095 shares during the last quarter. Finally, Lummis Asset Management LP grew its holdings in shares of General Dynamics by 32.6% during the third quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock worth $3,133,000 after purchasing an additional 2,551 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

NYSE GD opened at $257.17 on Monday. 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 1-year low of $247.01 and a 1-year high of $316.90. The stock has a market capitalization of $70.71 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 1.46 and a beta of 0.61. The business’s fifty day moving average price is $267.05 and its 200-day moving average price is $286.76.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (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%. On average, equities analysts predict that General Dynamics Co. will post 14.88 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $1.42 per share. The ex-dividend date is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.21%. General Dynamics’s payout ratio is 41.64%.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on GD shares. Baird R W downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Sanford C. Bernstein reduced their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft decreased 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. Wells Fargo & Company lowered their price objective on General Dynamics from $279.00 to $276.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. cut their target price on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $301.24.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction 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 owns 20,296 shares in the company, 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 at this hyperlink. 1.60% of the stock is currently owned by company insiders.

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.