General Dynamics Co. (NYSE:GD) Shares Sold by Legacy Private Trust Co.

Legacy Private Trust Co. trimmed its position in General Dynamics Co. (NYSE:GD) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,640 shares of the aerospace company’s stock after selling 40 shares during the period. Legacy Private Trust Co.’s holdings in General Dynamics were worth $798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in GD. Gladstone Capital Management LLP acquired a new stake in General Dynamics during the 4th quarter worth about $3,869,000. SWP Financial LLC acquired a new stake in General Dynamics during the 4th quarter worth about $227,000. Sanibel Captiva Trust Company Inc. acquired a new stake in General Dynamics during the 4th quarter worth about $28,107,000. Kingsview Wealth Management LLC grew its position in General Dynamics by 87.6% during the 1st quarter. Kingsview Wealth Management LLC now owns 14,690 shares of the aerospace company’s stock worth $4,150,000 after purchasing an additional 6,858 shares during the period. Finally, Clearbridge Investments LLC acquired a new stake in General Dynamics during the 1st quarter worth about $493,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GD. BTIG Research began coverage on General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target on the stock. Wells Fargo & Company lowered shares of General Dynamics from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $334.00 to $317.00 in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a research note on Thursday, July 25th. Finally, Robert W. Baird reissued an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research note on Tuesday, July 2nd. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $317.06.

General Dynamics Trading Down 0.1 %

GD opened at $296.90 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The company’s 50 day simple moving average is $297.43 and its two-hundred day simple moving average is $293.21. General Dynamics Co. has a 1-year low of $228.50 and a 1-year high of $309.97. The firm has a market capitalization of $81.46 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61.

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

General Dynamics Dividend Announcement

The firm 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 $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.