Martingale Asset Management L P Sells 2,941 Shares of General Dynamics Co. (NYSE:GD)

Martingale Asset Management L P lessened its holdings in shares of General Dynamics Co. (NYSE:GD) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 79,684 shares of the aerospace company’s stock after selling 2,941 shares during the quarter. Martingale Asset Management L P’s holdings in General Dynamics were worth $20,996,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the completion of the sale, the senior vice president now directly owns 45,192 shares of the company’s stock, valued at $12,297,195.12. The trade was a 37.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Laura J. Schumacher sold 1,796 shares of the firm’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 transaction of $459,201.28. Following the completion of the transaction, the director now directly owns 11,175 shares in the company, valued at approximately $2,857,224. The trade was a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

General Dynamics Stock Up 2.6 %

GD opened at $254.09 on Wednesday. The firm has a market cap of $68.19 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 1.69 and a beta of 0.43. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The firm’s 50-day simple moving average is $258.19 and its 200-day simple moving average is $274.44. General Dynamics Co. has a twelve month low of $239.20 and a twelve month high of $316.90.

General Dynamics (NYSE:GD) last released 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 return on equity of 17.10% and a net margin of 7.93%. Equities research analysts anticipate that General Dynamics Co. will post 14.83 EPS 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 issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.36%. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date is Friday, April 11th. General Dynamics’s payout ratio is currently 43.99%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Citigroup lowered their price target on General Dynamics from $360.00 to $335.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Wolfe Research lowered shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. Baird R W lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Robert W. Baird restated a “neutral” rating and set a $283.00 target price (down previously from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. dropped their price target on General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $297.12.

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.