Central Pacific Bank Trust Division Has $478,000 Holdings in General Dynamics Co. (NYSE:GD)

Central Pacific Bank Trust Division lifted its position in General Dynamics Co. (NYSE:GD) by 17.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,583 shares of the aerospace company’s stock after purchasing an additional 234 shares during the quarter. Central Pacific Bank Trust Division’s holdings in General Dynamics were worth $478,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Gladstone Capital Management LLP acquired a new position in shares of General Dynamics in the fourth quarter valued at $3,869,000. SWP Financial LLC acquired a new position in shares of General Dynamics in the fourth quarter valued at $227,000. Sanibel Captiva Trust Company Inc. acquired a new position in General Dynamics during the fourth quarter worth $28,107,000. Evercore Wealth Management LLC raised its stake in General Dynamics by 1.5% during the fourth quarter. Evercore Wealth Management LLC now owns 5,355 shares of the aerospace company’s stock worth $1,391,000 after acquiring an additional 78 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its stake in General Dynamics by 87.6% during the first quarter. Kingsview Wealth Management LLC now owns 14,690 shares of the aerospace company’s stock worth $4,150,000 after acquiring an additional 6,858 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Price Performance

General Dynamics stock opened at $299.61 on Friday. The business’s 50-day simple moving average is $297.07 and its 200 day simple moving average is $292.77. The stock has a market cap of $82.20 billion, a price-to-earnings ratio of 24.44, a P/E/G ratio of 1.68 and a beta of 0.61. General Dynamics Co. has a 12-month low of $214.53 and a 12-month high of $309.97. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.

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

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now owns 3,592 shares in the company, valued at $1,106,515.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on GD shares. Barclays increased 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. 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. Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $334.00 to $317.00 in a research note on Tuesday. BTIG Research began 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. Finally, Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $317.06.

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.