Farmers National Bank Grows Stake in General Dynamics Co. (NYSE:GD)

Farmers National Bank increased its position in General Dynamics Co. (NYSE:GD) by 0.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,182 shares of the aerospace company’s stock after acquiring an additional 92 shares during the period. Farmers National Bank’s holdings in General Dynamics were worth $2,954,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. 1832 Asset Management L.P. boosted its holdings in shares of General Dynamics by 3,645.4% in the fourth quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock worth $145,048,000 after buying an additional 543,672 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in General Dynamics by 879.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock worth $96,148,000 after acquiring an additional 305,624 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of General Dynamics by 4.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock worth $2,216,599,000 after acquiring an additional 293,316 shares during the last quarter. Hsbc Holdings PLC grew its position in shares of General Dynamics by 24.2% during the 2nd quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock valued at $391,119,000 after acquiring an additional 262,164 shares during the period. Finally, Westwood Holdings Group Inc. increased its stake in shares of General Dynamics by 174.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 384,151 shares of the aerospace company’s stock worth $111,458,000 after purchasing an additional 244,373 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Up 1.0 %

NYSE GD opened at $305.32 on Wednesday. The stock has a 50 day moving average price of $296.51 and a 200-day moving average price of $292.64. General Dynamics Co. has a one year low of $214.53 and a one year high of $309.97. The company has a market capitalization of $83.77 billion, a P/E ratio of 24.90, a P/E/G ratio of 1.68 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33.

General Dynamics (NYSE:GD) last issued 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). The business had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.70 earnings per share. As a group, equities analysts predict that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.86%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on GD shares. Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $334.00 to $317.00 in a report on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a research note on Thursday, July 25th. Robert W. Baird restated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research note on Tuesday, July 2nd. Finally, BTIG Research started coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target for the company. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $317.41.

General Dynamics 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.