General Dynamics Co. (NYSE:GD) Shares Sold by Mechanics Financial Corp

Mechanics Financial Corp trimmed its position in General Dynamics Co. (NYSE:GD) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,513 shares of the aerospace company’s stock after selling 40 shares during the quarter. General Dynamics comprises 1.0% of Mechanics Financial Corp’s investment portfolio, making the stock its 18th biggest position. Mechanics Financial Corp’s holdings in General Dynamics were worth $2,243,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Life Planners acquired a new position in General Dynamics in the fourth quarter valued at about $25,000. Whipplewood Advisors LLC acquired a new position in General Dynamics during the fourth quarter worth $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of General Dynamics during the fourth quarter worth $26,000. Heck Capital Advisors LLC acquired a new stake in shares of General Dynamics in the fourth quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of General Dynamics in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Down 0.2 %

General Dynamics stock opened at $268.99 on Friday. The stock has a market capitalization of $72.72 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 1.69 and a beta of 0.59. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average of $258.73 and a two-hundred day moving average of $276.94. General Dynamics Co. has a twelve month low of $239.87 and a twelve month high of $316.90.

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

General Dynamics Increases Dividend

The company 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 dividend of $1.50 per share. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 annualized dividend and a yield of 2.23%. The ex-dividend date is Friday, April 11th. General Dynamics’s dividend payout ratio is currently 43.99%.

General Dynamics declared that its Board of Directors has initiated a stock repurchase program on Wednesday, December 4th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the aerospace company to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

GD has been the subject of several research reports. BTIG Research downgraded General Dynamics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 13th. Baird R W cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Citigroup reduced their target price 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. Wolfe Research downgraded shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 11th. Finally, Barclays reduced their price objective on General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. One research 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $297.71.

Insider Activity at General Dynamics

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the sale, the senior vice president now owns 45,192 shares in the company, valued at $12,297,195.12. This trade represents a 37.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the transaction, the director now owns 11,175 shares in the company, valued at $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. 1.52% of the stock is owned by insiders.

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.