General Dynamics Co. (NYSE:GD) Shares Purchased by Norway Savings Bank

Norway Savings Bank raised its position in General Dynamics Co. (NYSE:GD) by 5.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,293 shares of the aerospace company’s stock after purchasing an additional 160 shares during the quarter. Norway Savings Bank’s holdings in General Dynamics were worth $930,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Fulton Bank N.A. grew its position in General Dynamics by 1.1% in the first quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock worth $932,000 after acquiring an additional 37 shares during the period. Copperwynd Financial LLC lifted its stake in shares of General Dynamics by 3.7% in the 4th quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock valued at $274,000 after purchasing an additional 38 shares during the last quarter. Woodward Diversified Capital LLC grew its holdings in shares of General Dynamics by 2.3% during the 4th 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 during the period. Newbridge Financial Services Group Inc. raised its holdings in General Dynamics by 16.2% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 287 shares of the aerospace company’s stock valued at $75,000 after buying an additional 40 shares during the period. Finally, Regent Peak Wealth Advisors LLC lifted its position in General Dynamics by 0.4% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 10,830 shares of the aerospace company’s stock valued at $2,812,000 after buying an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GD shares. Royal Bank of Canada dropped their price target on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. BTIG Research began coverage on General Dynamics in a research report on Wednesday. They issued a “buy” rating and a $345.00 target price on the stock. Citigroup raised their price target on General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Barclays boosted their price objective on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, StockNews.com cut General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $303.24.

General Dynamics Trading Down 0.8 %

Shares of NYSE:GD opened at $290.14 on Friday. The company has a market cap of $79.60 billion, a PE ratio of 23.67, a P/E/G ratio of 1.67 and a beta of 0.64. The company’s 50 day moving average is $294.27 and its two-hundred day moving average is $277.73. General Dynamics Co. has a 52 week low of $210.65 and a 52 week high of $302.75. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41.

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

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be paid a $1.42 dividend. The ex-dividend date is Friday, July 5th. This represents a $5.68 annualized dividend and a yield of 1.96%. General Dynamics’s dividend payout ratio is currently 46.33%.

Insiders Place Their Bets

In other news, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the transaction, the chief executive officer now owns 768,977 shares in the company, valued at approximately $218,773,956.50. The sale was disclosed in a document filed with the SEC, which is available at this link. In other General Dynamics news, VP Gregory S. Gallopoulos sold 13,567 shares of General Dynamics stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the transaction, the vice president now owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Phebe N. Novakovic sold 49,850 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the sale, the chief executive officer now directly owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 118,486 shares of company stock valued at $34,391,642. 1.52% of the stock is owned by corporate insiders.

General Dynamics 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.