Park National Corp OH Has $3.24 Million Position in General Dynamics Co. (NYSE:GD)

Park National Corp OH lessened its holdings in shares of General Dynamics Co. (NYSE:GD) by 7.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,298 shares of the aerospace company’s stock after selling 1,052 shares during the quarter. Park National Corp OH’s holdings in General Dynamics were worth $3,240,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in shares of General Dynamics by 40,389.3% in the third quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock valued at $416,876,000 after purchasing an additional 1,376,065 shares in the last quarter. State Street Corp lifted its stake in General Dynamics by 9.4% in the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock valued at $3,307,612,000 after acquiring an additional 943,247 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of General Dynamics by 13.0% in the 3rd quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock valued at $1,674,998,000 after purchasing an additional 638,342 shares during the period. Two Sigma Advisers LP lifted its stake in General Dynamics by 117.0% in the 3rd quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company’s stock valued at $259,469,000 after purchasing an additional 463,000 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in General Dynamics by 2,189.3% during the second 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 during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Trading Up 0.6 %

Shares of GD opened at $259.51 on Wednesday. The business’s fifty day moving average is $278.61 and its 200-day moving average is $289.74. The firm has a market cap of $71.36 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 1.62 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. General Dynamics Co. has a 52-week low of $247.36 and a 52-week high of $316.90.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the firm posted $3.04 earnings per share. Equities analysts anticipate that General Dynamics Co. will post 13.84 EPS for the current fiscal year.

General Dynamics declared that its Board of Directors has approved a share repurchase program on Wednesday, December 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is 43.26%.

Insider Buying and Selling

In related news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the transaction, the vice president now owns 20,296 shares in the company, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.52% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. TD Cowen raised General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Wolfe Research downgraded General Dynamics from an “outperform” rating to a “peer perform” rating in a report on Wednesday, December 11th. Jefferies Financial Group reiterated a “hold” rating and issued a $300.00 price objective (down from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Sanford C. Bernstein reduced their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Finally, Royal Bank of Canada cut shares of General Dynamics from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $330.00 to $290.00 in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $311.29.

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.