General Dynamics Co. (NYSE:GD) Holdings Raised by AMG National Trust Bank

AMG National Trust Bank boosted its stake in General Dynamics Co. (NYSE:GD) by 8.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,946 shares of the aerospace company’s stock after acquiring an additional 219 shares during the quarter. AMG National Trust Bank’s holdings in General Dynamics were worth $776,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GD. Principal Financial Group Inc. raised its holdings in shares of General Dynamics by 17.5% during the 3rd quarter. Principal Financial Group Inc. now owns 297,577 shares of the aerospace company’s stock valued at $89,928,000 after purchasing an additional 44,387 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of General Dynamics during the 3rd quarter valued at $71,000. CWA Asset Management Group LLC bought a new position in shares of General Dynamics during the 3rd quarter valued at $741,000. United Bank raised its holdings in shares of General Dynamics by 4.0% during the 3rd quarter. United Bank now owns 5,776 shares of the aerospace company’s stock valued at $1,746,000 after purchasing an additional 224 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in shares of General Dynamics by 0.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 8,450 shares of the aerospace company’s stock valued at $2,554,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Activity

In other news, Director Laura J. Schumacher sold 1,796 shares of General Dynamics stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the sale, the director now directly owns 11,175 shares in the company, valued at approximately $2,857,224. The trade was a 13.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. BTIG Research downgraded shares of General Dynamics from a “buy” rating to a “neutral” rating in a report on Thursday, February 13th. Barclays cut their price target on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. UBS Group lowered their target price on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. The Goldman Sachs Group lowered their target price on shares of General Dynamics from $245.00 to $241.00 and set a “sell” rating on the stock in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company raised their target price on shares of General Dynamics from $244.00 to $261.00 and gave the company an “equal weight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $297.71.

General Dynamics Stock Performance

NYSE GD opened at $271.82 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. The firm has a market capitalization of $73.49 billion, a price-to-earnings ratio of 19.93, a P/E/G ratio of 1.69 and a beta of 0.59. The company’s fifty day moving average is $257.80 and its two-hundred day moving average is $279.88. General Dynamics Co. has a 52-week low of $239.87 and a 52-week high of $316.90.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. Equities research analysts forecast that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 4th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the aerospace company to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be given a dividend of $1.50 per share. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Friday, April 11th. General Dynamics’s payout ratio is 41.64%.

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.