Flputnam Investment Management Co. Lowers Holdings in General Dynamics Co. (NYSE:GD)

Flputnam Investment Management Co. reduced its stake in shares of General Dynamics Co. (NYSE:GD) by 12.3% in the 4th quarter, Holdings Channel reports. The fund owned 1,562 shares of the aerospace company’s stock after selling 220 shares during the period. Flputnam Investment Management Co.’s holdings in General Dynamics were worth $412,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. U S Global Investors Inc. increased its holdings in General Dynamics by 18.6% in the fourth quarter. U S Global Investors Inc. now owns 79,450 shares of the aerospace company’s stock valued at $20,934,000 after buying an additional 12,453 shares in the last quarter. First American Bank grew its position in shares of General Dynamics by 7.8% during the 4th quarter. First American Bank now owns 4,148 shares of the aerospace company’s stock valued at $1,093,000 after acquiring an additional 300 shares during the period. Altrius Capital Management Inc increased its stake in shares of General Dynamics by 1.3% in the 4th quarter. Altrius Capital Management Inc now owns 16,350 shares of the aerospace company’s stock valued at $4,308,000 after purchasing an additional 216 shares in the last quarter. Shoker Investment Counsel Inc. boosted its position in General Dynamics by 1.2% during the fourth quarter. Shoker Investment Counsel Inc. now owns 8,282 shares of the aerospace company’s stock worth $2,182,000 after purchasing an additional 98 shares in the last quarter. Finally, Schulhoff & Co. Inc. grew its holdings in General Dynamics by 0.6% in the fourth quarter. Schulhoff & Co. Inc. now owns 11,538 shares of the aerospace company’s stock valued at $3,040,000 after purchasing an additional 67 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 11,175 shares in the company, valued at approximately $2,857,224. This represents a 13.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and set a $300.00 target price (down previously from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Citigroup decreased their price objective on shares of General Dynamics from $360.00 to $335.00 and set a “buy” rating on the stock in a report on Monday, February 10th. JPMorgan Chase & Co. cut their target price on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. The Goldman Sachs Group reduced their price target on shares of General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a research report on Tuesday, January 28th. Finally, Susquehanna lowered their price objective on General Dynamics from $315.00 to $300.00 and set a “positive” rating on the stock in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $296.71.

General Dynamics Trading Up 0.6 %

Shares of GD opened at $254.07 on Tuesday. General Dynamics Co. has a 12-month low of $239.87 and a 12-month high of $316.90. The firm has a market capitalization of $68.69 billion, a P/E ratio of 18.63, a P/E/G ratio of 1.69 and a beta of 0.61. The firm has a 50-day moving average price of $258.09 and a 200 day moving average price of $280.71. 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. Sell-side analysts forecast that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics declared that its board has approved a share repurchase program on Wednesday, December 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is presently 41.64%.

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.