Fulton Bank N.A. Sells 298 Shares of General Dynamics Co. (NYSE:GD)

Fulton Bank N.A. reduced its holdings in General Dynamics Co. (NYSE:GD) by 9.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,875 shares of the aerospace company’s stock after selling 298 shares during the quarter. Fulton Bank N.A.’s holdings in General Dynamics were worth $758,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. MFA Wealth Advisors LLC raised its stake in General Dynamics by 241.7% in the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 58 shares in the last quarter. Hara Capital LLC bought a new position in shares of General Dynamics in the 3rd quarter worth $26,000. Lowe Wealth Advisors LLC purchased a new stake in shares of General Dynamics during the 3rd quarter valued at $30,000. True Wealth Design LLC bought a new stake in shares of General Dynamics during the 3rd quarter worth $34,000. Finally, Meeder Asset Management Inc. increased its stake in General Dynamics by 385.2% in the second quarter. Meeder Asset Management Inc. now owns 131 shares of the aerospace company’s stock valued at $38,000 after acquiring an additional 104 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of the business’s 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 completion of the transaction, the vice president now owns 20,296 shares in the company, valued at $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GD shares. Royal Bank of Canada lowered General Dynamics from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $330.00 to $290.00 in a research note on Thursday, December 19th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Seaport Res Ptn lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Sanford C. Bernstein decreased 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 report on Thursday, October 24th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $300.00 target price (down from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, General Dynamics presently has a consensus rating of “Hold” and an average target price of $308.18.

General Dynamics Price Performance

GD stock opened at $261.35 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. The firm has a market capitalization of $71.86 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 1.62 and a beta of 0.61. The firm has a 50 day moving average price of $277.21 and a 200-day moving average price of $289.35. General Dynamics Co. has a 52-week low of $247.36 and a 52-week high of $316.90.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. During the same period last year, the firm posted $3.04 earnings per share. The company’s revenue was up 10.4% compared to the same quarter last year. Equities research analysts forecast that General Dynamics Co. will post 13.84 EPS for the current fiscal year.

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

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 annualized dividend and a yield of 2.17%. General Dynamics’s dividend payout ratio (DPR) is presently 43.26%.

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.