First National Trust Co reduced its stake in shares of General Dynamics Co. (NYSE:GD) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,245 shares of the aerospace company’s stock after selling 1,339 shares during the period. First National Trust Co’s holdings in General Dynamics were worth $4,526,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. WFG Advisors LP raised its position in shares of General Dynamics by 0.3% in the 2nd quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock worth $132,000 after acquiring an additional 2 shares in the last quarter. YorkBridge Wealth Partners LLC raised its position in shares of General Dynamics by 0.5% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 992 shares of the aerospace company’s stock worth $198,000 after acquiring an additional 5 shares in the last quarter. Pathstone Family Office LLC raised its position in shares of General Dynamics by 100.0% in the 2nd quarter. Pathstone Family Office LLC now owns 24 shares of the aerospace company’s stock worth $4,754,000 after acquiring an additional 12 shares in the last quarter. Comerica Securities Inc. raised its position in shares of General Dynamics by 0.6% in the 2nd quarter. Comerica Securities Inc. now owns 2,350 shares of the aerospace company’s stock worth $465,000 after acquiring an additional 15 shares in the last quarter. Finally, Bahl & Gaynor Inc. raised its position in shares of General Dynamics by 0.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 4,413 shares of the aerospace company’s stock worth $762,000 after acquiring an additional 17 shares in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.
In other General Dynamics news, VP Gregory S. Gallopoulos sold 78,370 shares of General Dynamics stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $202.93, for a total transaction of $15,903,624.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Patrick Casey sold 34,945 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $201.38, for a total value of $7,037,224.10. Following the completion of the transaction, the insider now owns 144,378 shares in the company, valued at approximately $29,074,841.64. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by insiders.
Several research analysts have recently weighed in on GD shares. Royal Bank of Canada set a $239.00 price objective on General Dynamics and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Cowen reaffirmed a “buy” rating and issued a $230.00 target price on shares of General Dynamics in a research report on Thursday, October 19th. Deutsche Bank reaffirmed a “hold” rating and issued a $210.00 target price (up from $200.00) on shares of General Dynamics in a research report on Monday, October 2nd. ValuEngine lowered General Dynamics from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Finally, Stifel Nicolaus boosted their target price on General Dynamics from $200.00 to $210.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $218.92.
General Dynamics Co. (GD) traded down $4.26 during mid-day trading on Wednesday, reaching $206.33. The company’s stock had a trading volume of 1,753,600 shares, compared to its average volume of 1,466,080. The firm has a market cap of $62,200.00, a P/E ratio of 20.49, a P/E/G ratio of 2.27 and a beta of 0.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.93. General Dynamics Co. has a fifty-two week low of $172.43 and a fifty-two week high of $214.81.
General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. The business had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $7.94 billion. General Dynamics had a return on equity of 27.98% and a net margin of 9.94%. The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.36 EPS. equities research analysts expect that General Dynamics Co. will post 9.8 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 19th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, January 18th. This represents a $3.36 dividend on an annualized basis and a yield of 1.63%. General Dynamics’s dividend payout ratio (DPR) is currently 33.37%.
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General Dynamics Company Profile
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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