General Dynamics Co. (NYSE:GD) Position Trimmed by Hancock Whitney Corp

Hancock Whitney Corp reduced its holdings in General Dynamics Co. (NYSE:GD) by 2.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 7,534 shares of the aerospace company’s stock after selling 208 shares during the quarter. Hancock Whitney Corp’s holdings in General Dynamics were worth $2,186,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of GD. Massachusetts Financial Services Co. MA grew its holdings in shares of General Dynamics by 4.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after purchasing an additional 293,316 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in General Dynamics by 2.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock worth $1,351,041,000 after buying an additional 115,063 shares during the period. Sanders Capital LLC lifted its stake in General Dynamics by 3.7% in the fourth quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company’s stock valued at $1,081,488,000 after buying an additional 147,800 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of General Dynamics by 1.1% during the fourth quarter. Northern Trust Corp now owns 2,282,757 shares of the aerospace company’s stock valued at $592,764,000 after acquiring an additional 24,395 shares during the period. Finally, Boston Partners grew its position in shares of General Dynamics by 1.4% during the first quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock worth $474,927,000 after acquiring an additional 23,262 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GD shares. Wells Fargo & Company boosted their target price on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. BTIG Research began coverage on General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective for the company. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research note on Tuesday, July 2nd. Barclays increased their price target on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research note on Thursday, July 25th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, General Dynamics has an average rating of “Moderate Buy” and an average price target of $315.06.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.52% of the stock is currently owned by insiders.

General Dynamics Stock Up 0.7 %

Shares of General Dynamics stock opened at $306.87 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 12-month low of $214.53 and a 12-month high of $309.97. The firm has a market capitalization of $84.19 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. The stock’s fifty day moving average is $294.79 and its 200-day moving average is $291.09.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. During the same period in the prior year, the company posted $2.70 earnings per share. General Dynamics’s quarterly revenue was up 18.0% compared to the same quarter last year. Equities analysts anticipate that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.85%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

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.