Crossmark Global Holdings Inc. Has $9.42 Million Position in General Dynamics Co. (NYSE:GD)

Crossmark Global Holdings Inc. lessened its holdings in shares of General Dynamics Co. (NYSE:GD) by 5.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 35,735 shares of the aerospace company’s stock after selling 1,948 shares during the period. Crossmark Global Holdings Inc.’s holdings in General Dynamics were worth $9,416,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. MFA Wealth Advisors LLC boosted its position 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 acquired a new position in General Dynamics in the third quarter valued at about $26,000. Lowe Wealth Advisors LLC bought a new position in General Dynamics during the third quarter worth about $30,000. Sugar Maple Asset Management LLC acquired a new position in shares of General Dynamics during the 4th quarter worth about $28,000. Finally, True Wealth Design LLC bought a new stake in shares of General Dynamics in the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insiders Place Their Bets

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the business’s 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 transaction, the vice president now owns 20,296 shares of the company’s stock, valued at $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

General Dynamics Trading Up 1.7 %

General Dynamics stock opened at $271.30 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The firm has a 50-day moving average of $271.92 and a 200-day moving average of $288.09. The company has a market cap of $74.60 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 1.41 and a beta of 0.61. General Dynamics Co. has a one year low of $247.88 and a one year high of $316.90.

General Dynamics (NYSE:GD) last posted 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 company had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter in the prior year, the business earned $3.04 earnings per share. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities analysts expect that General Dynamics Co. will post 13.81 earnings per share for the current fiscal year.

General Dynamics declared that its board has authorized a share repurchase program on Wednesday, December 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a $1.42 dividend. The ex-dividend date is Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.09%. General Dynamics’s dividend payout ratio is presently 43.26%.

Wall Street Analysts Forecast Growth

GD has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Royal Bank of Canada lowered shares of General Dynamics from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $330.00 to $290.00 in a report on Thursday, December 19th. Sanford C. Bernstein dropped their price objective on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. The Goldman Sachs Group cut General Dynamics from a “neutral” rating to a “sell” rating and decreased their target price for the company from $283.00 to $245.00 in a research note on Thursday, December 12th. Finally, TD Cowen raised General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $304.88.

About General Dynamics

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.