Main Street Research LLC Sells 49,161 Shares of General Dynamics Co. (NYSE:GD)

Main Street Research LLC trimmed its stake in shares of General Dynamics Co. (NYSE:GD) by 49.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,958 shares of the aerospace company’s stock after selling 49,161 shares during the quarter. Main Street Research LLC’s holdings in General Dynamics were worth $13,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Financial Life Planners bought a new stake in shares of General Dynamics in the 4th quarter valued at $25,000. Whipplewood Advisors LLC bought a new stake in General Dynamics during the fourth quarter valued at $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in General Dynamics during the 4th quarter worth about $26,000. Sugar Maple Asset Management LLC bought a new position in shares of General Dynamics in the 4th quarter worth about $28,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of General Dynamics in the 4th quarter valued at about $28,000. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Price Performance

GD opened at $271.82 on Monday. The firm’s fifty day moving average price is $257.80 and its two-hundred day moving average price is $279.78. The company has a market capitalization of $73.49 billion, a price-to-earnings ratio of 19.93, a P/E/G ratio of 1.69 and a beta of 0.59. 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 $239.87 and a 1 year high of $316.90.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. As a group, analysts anticipate that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.21%. This is an increase from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, April 11th. General Dynamics’s dividend payout ratio (DPR) is presently 43.99%.

General Dynamics announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

GD has been the subject of several recent analyst reports. William Blair cut General Dynamics from an “outperform” rating to a “market perform” rating in a research note on Friday, February 21st. Jefferies Financial Group reiterated a “hold” rating and issued a $300.00 price objective (down previously from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. Wolfe Research lowered shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 11th. Royal Bank of Canada decreased 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 research note on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, General Dynamics presently has an average rating of “Hold” and a consensus price target of $297.71.

Insider Buying and Selling

In related news, Director Laura J. Schumacher sold 1,796 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the sale, the director now owns 11,175 shares in the company, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.52% of the stock is currently owned by corporate 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.