Cape ANN Savings Bank Sells 135 Shares of General Dynamics Co. (NYSE:GD)

Cape ANN Savings Bank lessened its position in General Dynamics Co. (NYSE:GD) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,039 shares of the aerospace company’s stock after selling 135 shares during the quarter. General Dynamics accounts for approximately 1.1% of Cape ANN Savings Bank’s portfolio, making the stock its 23rd largest holding. Cape ANN Savings Bank’s holdings in General Dynamics were worth $1,825,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Redmont Wealth Advisors LLC purchased a new stake in shares of General Dynamics in the 1st quarter valued at $25,000. Richardson Financial Services Inc. bought a new stake in General Dynamics in the fourth quarter worth $25,000. American Capital Advisory LLC purchased a new stake in General Dynamics during the second quarter valued at about $29,000. Lowe Wealth Advisors LLC bought a new position in shares of General Dynamics during the third quarter valued at about $30,000. Finally, Financial Synergies Wealth Advisors Inc. purchased a new position in shares of General Dynamics in the first quarter worth about $29,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wells Fargo & Company cut General Dynamics from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $334.00 to $317.00 in a report on Tuesday, October 1st. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Robert W. Baird reiterated an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a report on Tuesday, July 2nd. BTIG Research initiated coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target for the company. Finally, Barclays raised their target price on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $317.06.

General Dynamics Stock Performance

Shares of GD opened at $296.90 on Wednesday. General Dynamics Co. has a 52 week low of $228.50 and a 52 week 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. The stock has a market cap of $81.46 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 1.68 and a beta of 0.61. The business has a 50-day simple moving average of $297.43 and a two-hundred day simple moving average of $293.21.

General Dynamics (NYSE:GD) last released its 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). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. During the same period in the prior year, the company posted $2.70 earnings per share. The company’s revenue was up 18.0% compared to the same quarter last year. On average, 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. Investors of record on Friday, October 11th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Insider Buying and Selling

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 sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.52% of the stock is currently owned by 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.