HBK Sorce Advisory LLC Sells 69 Shares of General Dynamics Co. (NYSE:GD)

HBK Sorce Advisory LLC lessened its position in shares of General Dynamics Co. (NYSE:GD) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,423 shares of the aerospace company’s stock after selling 69 shares during the quarter. HBK Sorce Advisory LLC’s holdings in General Dynamics were worth $1,956,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Financial Life Planners purchased a new stake in General Dynamics during the fourth quarter valued at $25,000. Whipplewood Advisors LLC purchased a new stake in General Dynamics during the fourth quarter valued at $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in General Dynamics in the fourth quarter worth about $26,000. Sugar Maple Asset Management LLC purchased a new stake in General Dynamics in the fourth quarter worth about $28,000. Finally, Heck Capital Advisors LLC purchased a new stake in General Dynamics in the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Activity

In related news, Director Laura J. Schumacher sold 1,796 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was 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 directly owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the sale, the senior vice president now directly owns 45,192 shares of the company’s stock, valued at $12,297,195.12. This represents a 37.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Price Performance

Shares of General Dynamics stock opened at $260.87 on Friday. The stock has a 50 day moving average of $257.92 and a 200 day moving average of $279.18. General Dynamics Co. has a 12 month low of $239.87 and a 12 month high of $316.90. The firm has a market cap of $70.53 billion, a PE ratio of 19.13, a PEG ratio of 1.69 and a beta of 0.59. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing analysts’ consensus estimates 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, research analysts expect that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics announced that its Board of Directors has initiated a share buyback program on Wednesday, December 4th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.30%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date is Friday, April 11th. General Dynamics’s dividend payout ratio (DPR) is presently 43.99%.

Analyst Ratings Changes

A number of brokerages have commented on GD. Vertical Research cut General Dynamics from a “buy” rating to a “hold” rating and reduced their price target for the stock from $352.00 to $290.00 in a research report on Monday, January 6th. The Goldman Sachs Group reduced their price target on General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a research report on Tuesday, January 28th. Royal Bank of Canada reduced their price target on General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a research report on Thursday, January 30th. Robert W. Baird restated a “neutral” rating and issued a $283.00 price target (down previously from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. Finally, Barclays reduced their price target on General Dynamics from $305.00 to $285.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $297.71.

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.