American Trust Acquires Shares of 1,933 General Dynamics Co. (NYSE:GD)

American Trust acquired a new stake in shares of General Dynamics Co. (NYSE:GD) in the second quarter, Holdings Channel.com reports. The firm acquired 1,933 shares of the aerospace company’s stock, valued at approximately $561,000.

A number of other institutional investors have also modified their holdings of the stock. CWA Asset Management Group LLC purchased a new position in shares of General Dynamics in the 4th quarter valued at about $414,000. Rafferty Asset Management LLC increased its stake in shares of General Dynamics by 3.7% in the 4th quarter. Rafferty Asset Management LLC now owns 39,948 shares of the aerospace company’s stock valued at $10,373,000 after purchasing an additional 1,423 shares in the last quarter. Belpointe Asset Management LLC increased its stake in shares of General Dynamics by 11.4% in the 4th quarter. Belpointe Asset Management LLC now owns 1,569 shares of the aerospace company’s stock valued at $408,000 after purchasing an additional 160 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of General Dynamics by 3.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 11,294 shares of the aerospace company’s stock valued at $2,933,000 after purchasing an additional 354 shares in the last quarter. Finally, Lake Street Advisors Group LLC purchased a new position in shares of General Dynamics in the 4th quarter valued at about $586,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.52% of the stock is owned by corporate insiders.

General Dynamics Trading Down 0.5 %

GD opened at $303.92 on Thursday. General Dynamics Co. has a one year low of $214.53 and a one year high of $309.97. The stock has a market capitalization of $83.38 billion, a PE ratio of 24.79, a P/E/G ratio of 1.68 and a beta of 0.61. The business’s 50 day moving average price is $296.90 and its 200 day moving average price is $292.72. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The firm had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.70 EPS. As a group, equities research analysts expect that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

Analyst Ratings Changes

GD has been the subject of several research reports. Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $334.00 to $317.00 in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. BTIG Research initiated coverage on General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective for the company. Barclays boosted their price objective on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research note on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and an average price target of $317.41.

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.