UMB Bank n.a. Sells 893 Shares of General Dynamics Co. (NYSE:GD)

UMB Bank n.a. reduced its holdings in shares of General Dynamics Co. (NYSE:GD) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,638 shares of the aerospace company’s stock after selling 893 shares during the period. UMB Bank n.a.’s holdings in General Dynamics were worth $11,072,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Richardson Financial Services Inc. bought a new stake in shares of General Dynamics in the 4th quarter worth about $25,000. Redmont Wealth Advisors LLC bought a new position in shares of General Dynamics in the first quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of General Dynamics in the 1st quarter worth approximately $29,000. New Covenant Trust Company N.A. bought a new stake in General Dynamics during the 1st quarter worth approximately $29,000. Finally, American Capital Advisory LLC acquired a new stake in General Dynamics during the 2nd quarter valued at $29,000. Institutional investors own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

In other 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 transaction of $406,626.00. Following the completion of the sale, the director now owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GD. BTIG Research started coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price for the company. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Robert W. Baird reiterated an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Wells Fargo & Company downgraded shares of General Dynamics from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $334.00 to $317.00 in a report on Tuesday, October 1st. Finally, Barclays upped their price target on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $317.06.

General Dynamics Price Performance

General Dynamics stock traded down $1.54 during trading hours on Thursday, reaching $297.15. 137,904 shares of the stock were exchanged, compared to its average volume of 1,092,134. General Dynamics Co. has a twelve month low of $232.29 and a twelve month high of $309.97. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average of $297.51 and a two-hundred day moving average of $293.36. The company has a market cap of $81.53 billion, a P/E ratio of 24.36, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted 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 net margin of 7.89% and a return on equity of 16.74%. The company had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter in the prior year, the business earned $2.70 EPS. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. Equities 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. Stockholders of record on Friday, October 11th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is presently 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.