Tompkins Financial Corp Acquires 884 Shares of General Dynamics Co. (NYSE:GD)

Tompkins Financial Corp boosted its holdings in shares of General Dynamics Co. (NYSE:GD) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,955 shares of the aerospace company’s stock after purchasing an additional 884 shares during the period. Tompkins Financial Corp’s holdings in General Dynamics were worth $7,102,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. MFA Wealth Advisors LLC grew its holdings in shares of General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 58 shares during the last quarter. Hara Capital LLC bought a new stake in General Dynamics during the third quarter worth about $26,000. Lowe Wealth Advisors LLC acquired a new stake in shares of General Dynamics during the third quarter worth approximately $30,000. True Wealth Design LLC bought a new position in shares of General Dynamics in the third quarter valued at approximately $34,000. Finally, Coston McIsaac & Partners boosted its holdings in shares of General Dynamics by 22.8% in the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after acquiring an additional 33 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GD shares. Vertical Research downgraded General Dynamics from a “buy” rating to a “hold” rating and cut their price objective for the company from $352.00 to $290.00 in a research report on Monday, January 6th. Barclays cut their price target on General Dynamics from $330.00 to $305.00 and set an “overweight” rating for the company in a report on Monday, January 6th. The Goldman Sachs Group lowered shares of General Dynamics from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $283.00 to $245.00 in a report on Thursday, December 12th. Robert W. Baird reaffirmed a “neutral” rating and issued a $283.00 target price (down from $345.00) on shares of General Dynamics in a research note on Tuesday. Finally, Seaport Res Ptn cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $304.53.

Insider Buying and Selling

In related news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the sale, the vice president now directly owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.52% of the stock is currently owned by company insiders.

General Dynamics Trading Up 1.1 %

NYSE:GD opened at $268.97 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. General Dynamics Co. has a 1-year low of $247.36 and a 1-year high of $316.90. The firm has a market capitalization of $73.96 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 1.38 and a beta of 0.61. The business’s 50-day moving average price is $274.45 and its two-hundred day moving average price is $288.45.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same quarter in the prior year, the business earned $3.04 earnings per share. The business’s revenue was up 10.4% on a year-over-year basis. On average, equities analysts expect that General Dynamics Co. will post 13.81 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s dividend payout ratio is currently 43.26%.

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

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.