Lake Street Advisors Group LLC Reduces Position in General Dynamics Co. (NYSE:GD)

Lake Street Advisors Group LLC lowered its stake in General Dynamics Co. (NYSE:GD) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,993 shares of the aerospace company’s stock after selling 63 shares during the period. Lake Street Advisors Group LLC’s holdings in General Dynamics were worth $789,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC lifted its position in General Dynamics by 15.3% during the 4th quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock worth $2,553,000 after acquiring an additional 1,283 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in shares of General Dynamics by 67.6% in the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock worth $2,583,000 after purchasing an additional 3,448 shares during the last quarter. Olstein Capital Management L.P. raised its stake in shares of General Dynamics by 36.4% in the third quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock worth $4,533,000 after purchasing an additional 4,000 shares during the last quarter. Kentucky Trust Co acquired a new stake in shares of General Dynamics during the fourth quarter worth about $607,000. Finally, Oppenheimer & Co. Inc. increased its holdings in General Dynamics by 10.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock worth $11,204,000 after buying an additional 3,363 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at General Dynamics

In related news, Director Laura J. Schumacher sold 1,796 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by corporate insiders.

General Dynamics Stock Performance

GD opened at $248.92 on Thursday. The firm’s fifty day simple moving average is $258.71 and its two-hundred day simple moving average is $281.65. General Dynamics Co. has a 52-week low of $239.87 and a 52-week high of $316.90. The company has a market cap of $67.30 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 1.69 and a beta of 0.61. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. Equities analysts anticipate that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics announced that its board has initiated a share repurchase plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Friday, January 17th. General Dynamics’s payout ratio is 41.64%.

Analyst Ratings Changes

GD has been the subject of several research reports. BTIG Research cut shares of General Dynamics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 13th. TD Cowen decreased their target price on shares of General Dynamics from $315.00 to $295.00 in a research report on Tuesday, January 28th. Jefferies Financial Group reaffirmed a “hold” rating and set a $300.00 price target (down from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Vertical Research cut General Dynamics from a “buy” rating to a “hold” rating and decreased their price objective for the company from $352.00 to $290.00 in a report on Monday, January 6th. Finally, Royal Bank of Canada dropped their target price on General Dynamics from $290.00 to $280.00 and set a “sector perform” rating on the stock in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have issued 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 a consensus target price of $296.71.

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.