Logan Capital Management Inc. Sells 4,771 Shares of General Dynamics Co. (NYSE:GD)

Logan Capital Management Inc. reduced its holdings in General Dynamics Co. (NYSE:GD - Free Report) by 27.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,613 shares of the aerospace company's stock after selling 4,771 shares during the period. Logan Capital Management Inc.'s holdings in General Dynamics were worth $3,323,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC grew its stake in General Dynamics by 15.3% in the fourth quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company's stock valued at $2,553,000 after acquiring an additional 1,283 shares during the period. Kentucky Trust Co acquired a new position in shares of General Dynamics in the 4th quarter valued at approximately $607,000. Hickory Point Bank & Trust bought a new stake in General Dynamics during the 4th quarter worth approximately $692,000. Atlas Legacy Advisors LLC acquired a new stake in General Dynamics during the 4th quarter worth approximately $550,000. Finally, Thomasville National Bank lifted its stake in General Dynamics by 3.2% in the fourth quarter. Thomasville National Bank now owns 72,386 shares of the aerospace company's stock valued at $19,073,000 after buying an additional 2,242 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. TD Cowen dropped their price objective on shares of General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. Cowen restated a "buy" rating on shares of General Dynamics in a report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price objective on General Dynamics from $307.00 to $284.00 and set an "overweight" rating for the company in a report on Thursday, January 30th. William Blair cut General Dynamics from an "outperform" rating to a "market perform" rating in a research note on Friday, February 21st. Finally, Royal Bank of Canada cut their price objective on shares of General Dynamics from $290.00 to $280.00 and set a "sector perform" rating on the stock in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $293.00.

General Dynamics Price Performance

Shares of NYSE:GD traded up $2.03 during trading on Friday, reaching $280.54. 1,173,759 shares of the company traded hands, compared to its average volume of 1,371,403. 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 Co. has a 52 week low of $239.20 and a 52 week high of $316.90. The firm has a market capitalization of $75.29 billion, a PE ratio of 20.57, a PEG ratio of 1.69 and a beta of 0.49. The company's 50 day moving average is $269.38 and its two-hundred day moving average is $269.18.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, beating analysts' consensus estimates of $3.43 by $0.23. The firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.92 billion. General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. The company's revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.88 EPS. As a group, sell-side analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 11th were paid a $1.50 dividend. The ex-dividend date was Friday, April 11th. This represents a $6.00 annualized dividend and a dividend yield of 2.14%. This is an increase from General Dynamics's previous quarterly dividend of $1.42. General Dynamics's dividend payout ratio is currently 41.61%.

Insider Buying and Selling

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the sale, the senior vice president now owns 45,192 shares in the company, valued at $12,297,195.12. This represents a 37.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by corporate insiders.

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.