Parkside Financial Bank & Trust Has $878,000 Holdings in General Dynamics Co. (NYSE:GD)

Parkside Financial Bank & Trust cut its stake in shares of General Dynamics Co. (NYSE:GD) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,332 shares of the aerospace company’s stock after selling 53 shares during the period. Parkside Financial Bank & Trust’s holdings in General Dynamics were worth $878,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GD. State Street Corp increased its holdings in shares of General Dynamics by 9.4% during the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock worth $3,307,612,000 after buying an additional 943,247 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of General Dynamics by 13.0% during the third quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock worth $1,674,998,000 after buying an additional 638,342 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of General Dynamics by 117.0% during the third quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company’s stock worth $259,469,000 after buying an additional 463,000 shares in the last quarter. Barclays PLC increased its holdings in shares of General Dynamics by 43.1% during the third quarter. Barclays PLC now owns 942,485 shares of the aerospace company’s stock worth $284,818,000 after buying an additional 283,972 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of General Dynamics by 2.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock worth $2,366,124,000 after purchasing an additional 189,904 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Price Performance

Shares of NYSE GD opened at $251.53 on Friday. The firm’s 50-day moving average price is $258.53 and its 200-day moving average price is $281.44. General Dynamics Co. has a 1-year low of $239.87 and a 1-year high of $316.90. The firm has a market capitalization of $68.00 billion, a P/E ratio of 18.44, a P/E/G ratio of 1.69 and a beta of 0.61. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33.

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

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were issued a $1.42 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.26%. General Dynamics’s dividend payout ratio is presently 41.64%.

General Dynamics announced that its board has approved a stock buyback plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

GD has been the topic of several analyst reports. UBS Group reduced their price objective on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Barclays reduced their price objective on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Jefferies Financial Group reissued a “hold” rating and issued a $300.00 price objective (down previously from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. William Blair cut shares of General Dynamics from an “outperform” rating to a “market perform” rating in a research note on Friday, February 21st. Finally, The Goldman Sachs Group reduced their price objective on shares of General Dynamics from $245.00 to $241.00 and set a “sell” rating on the stock in a research note on Tuesday, January 28th. 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 given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $296.71.

Insider Buying and Selling

In related news, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following the sale, the director now owns 11,175 shares in the company, valued at $2,857,224. This represents a 13.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by company 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.