Park National Corp OH Sells 833 Shares of General Dynamics Co. (NYSE:GD)

Park National Corp OH reduced its stake in General Dynamics Co. (NYSE:GD) by 5.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,981 shares of the aerospace company’s stock after selling 833 shares during the period. Park National Corp OH’s holdings in General Dynamics were worth $3,949,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in GD. Copperwynd Financial LLC increased its position in General Dynamics by 3.7% in the fourth quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock worth $274,000 after buying an additional 38 shares in the last quarter. Woodward Diversified Capital LLC grew its position in shares of General Dynamics by 2.3% during the fourth quarter. Woodward Diversified Capital LLC now owns 1,727 shares of the aerospace company’s stock worth $448,000 after purchasing an additional 39 shares in the last quarter. Newbridge Financial Services Group Inc. grew its position in shares of General Dynamics by 16.2% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 287 shares of the aerospace company’s stock worth $75,000 after purchasing an additional 40 shares in the last quarter. Regent Peak Wealth Advisors LLC grew its position in shares of General Dynamics by 0.4% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 10,830 shares of the aerospace company’s stock worth $2,812,000 after purchasing an additional 41 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. grew its position in shares of General Dynamics by 0.4% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 10,377 shares of the aerospace company’s stock worth $2,695,000 after purchasing an additional 41 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

NYSE:GD opened at $298.00 on Wednesday. General Dynamics Co. has a one year low of $209.25 and a one year high of $302.42. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.44. The stock has a market cap of $81.76 billion, a PE ratio of 24.31, a P/E/G ratio of 1.68 and a beta of 0.64. The stock has a 50 day moving average price of $292.81 and a 200 day moving average price of $275.62.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($0.01). The business had revenue of $10.73 billion during the quarter, compared to analysts’ expectations of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The company’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.64 earnings per share. Equities research analysts expect that General Dynamics Co. will post 14.55 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $5.68 dividend on an annualized basis and a yield of 1.91%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Insider Activity at General Dynamics

In related news, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total value of $3,978,647.04. Following the completion of the transaction, the chief financial officer now directly owns 79,255 shares in the company, valued at $23,630,670.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other General Dynamics news, VP Mark Lagrand Burns sold 12,089 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $296.59, for a total value of $3,585,476.51. Following the sale, the vice president now directly owns 64,132 shares in the company, valued at $19,020,909.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total value of $3,978,647.04. Following the completion of the sale, the chief financial officer now owns 79,255 shares in the company, valued at $23,630,670.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 118,486 shares of company stock worth $34,391,642. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

GD has been the subject of several analyst reports. Citigroup raised their price target on General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Susquehanna raised their price target on General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research note on Friday, April 12th. Argus raised their price objective on General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Wells Fargo & Company raised their price objective on General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, Barclays raised their price objective on General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $300.63.

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.