Redmond Asset Management LLC Acquires Shares of 1,090 General Dynamics Co. (NYSE:GD)

Redmond Asset Management LLC acquired a new stake in shares of General Dynamics Co. (NYSE:GD) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,090 shares of the aerospace company’s stock, valued at approximately $287,000.

A number of other institutional investors also recently added to or reduced their stakes in GD. State Street Corp boosted its holdings in shares of General Dynamics by 9.4% in the 3rd quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock worth $3,307,612,000 after acquiring an additional 943,247 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of General Dynamics by 13.0% in the 3rd quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock worth $1,674,998,000 after acquiring an additional 638,342 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in shares of General Dynamics by 117.0% in the 3rd quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company’s stock worth $259,469,000 after acquiring an additional 463,000 shares in the last quarter. Barclays PLC boosted its holdings in shares of General Dynamics by 43.1% in the 3rd quarter. Barclays PLC now owns 942,485 shares of the aerospace company’s stock worth $284,818,000 after acquiring an additional 283,972 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of General Dynamics by 2.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock worth $2,366,124,000 after acquiring an additional 189,904 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $243.02 on Friday. The firm has a fifty day moving average of $259.68 and a two-hundred day moving average of $282.53. The stock has a market capitalization of $65.70 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 1.69 and a beta of 0.61. General Dynamics Co. has a 52 week low of $239.87 and a 52 week high of $316.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37.

General Dynamics (NYSE:GD) last issued 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, equities research analysts predict that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics announced that its board has approved a share buyback plan 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 plans are generally an indication that the company’s leadership believes its shares are undervalued.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date was Friday, January 17th. General Dynamics’s dividend payout ratio is currently 41.64%.

Insider Activity at General Dynamics

In related news, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction on Friday, January 31st. The shares were 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 owns 11,175 shares in the company, valued at $2,857,224. This represents a 13.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.52% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GD has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Robert W. Baird reissued a “neutral” rating and issued a $283.00 target price (down from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. The Goldman Sachs Group reduced their price objective on General Dynamics from $245.00 to $241.00 and set a “sell” rating on the stock in a report on Tuesday, January 28th. Vertical Research downgraded General Dynamics from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $352.00 to $290.00 in a report on Monday, January 6th. Finally, BTIG Research downgraded General Dynamics from a “buy” rating to a “neutral” rating in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, General Dynamics has an average rating of “Hold” and an average price target of $298.59.

General Dynamics Company 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.