General Dynamics Co. (NYSE:GD) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. decreased its holdings in General Dynamics Co. (NYSE:GD) by 2.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,173 shares of the aerospace company’s stock after selling 86 shares during the quarter. Fulton Bank N.A.’s holdings in General Dynamics were worth $959,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GD. 1832 Asset Management L.P. boosted its position in shares of General Dynamics by 2,189.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock worth $108,572,000 after purchasing an additional 357,861 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in shares of General Dynamics by 879.9% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock worth $96,148,000 after purchasing an additional 305,624 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of General Dynamics by 4.0% in 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 purchasing an additional 293,316 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of General Dynamics by 24.2% in the 2nd quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock worth $391,119,000 after purchasing an additional 262,164 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its position 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. Institutional investors and hedge funds own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

GD has been the subject of a number of research analyst reports. Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $334.00 to $317.00 in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft reduced their target price on General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. BTIG Research initiated coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price for the company. Barclays raised their target price 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, Robert W. Baird restated an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a research note on Tuesday, July 2nd. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $317.06.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics 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 sale, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.52% of the stock is currently owned by insiders.

General Dynamics Price Performance

Shares of General Dynamics stock opened at $297.29 on Tuesday. 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 twelve month low of $228.50 and a twelve month high of $309.97. The business has a 50-day moving average price of $297.27 and a 200 day moving average price of $293.09. The firm has a market cap of $81.57 billion, a PE ratio of 24.25, a P/E/G ratio of 1.68 and a beta of 0.61.

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

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is 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.