Sei Investments Co. Has $75.04 Million Stock Position in General Dynamics Co. (NYSE:GD)

Sei Investments Co. reduced its position in General Dynamics Co. (NYSE:GD) by 0.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 284,814 shares of the aerospace company’s stock after selling 624 shares during the period. Sei Investments Co.’s holdings in General Dynamics were worth $75,044,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Life Planners acquired a new stake in shares of General Dynamics in the 4th quarter valued at $25,000. Whipplewood Advisors LLC acquired a new stake in shares of General Dynamics in the 4th quarter valued at $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of General Dynamics in the 4th quarter valued at $26,000. Heck Capital Advisors LLC acquired a new stake in shares of General Dynamics in the 4th quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of General Dynamics in the 4th quarter valued at $28,000. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Down 0.9 %

General Dynamics stock opened at $263.30 on Friday. The company has a market cap of $71.18 billion, a P/E ratio of 19.30, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. General Dynamics Co. has a 1-year low of $239.87 and a 1-year high of $316.90. The company has a fifty day simple moving average of $258.50 and a 200 day simple moving average of $277.79. 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 released its earnings results 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%. Research analysts anticipate that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.00 dividend on an annualized basis and a yield of 2.28%. This is an increase from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s dividend payout ratio (DPR) is 43.99%.

General Dynamics announced that its board has initiated a share repurchase program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Robert W. Baird restated a “neutral” rating and issued a $283.00 price target (down from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. BTIG Research lowered General Dynamics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 13th. Wells Fargo & Company raised their price target on General Dynamics from $244.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Friday, March 7th. Royal Bank of Canada reduced their price target on 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. Finally, TD Cowen reduced their price target on General Dynamics from $315.00 to $295.00 in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, General Dynamics presently has an average rating of “Hold” and an average price target of $297.71.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following the completion of the sale, the director now owns 11,175 shares in the company, valued at $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the completion of the sale, the senior vice president now owns 45,192 shares of the company’s stock, valued at approximately $12,297,195.12. This represents a 37.88 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.

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.