Somerset Trust Co Decreases Stock Position in General Dynamics Co. (NYSE:GD)

Somerset Trust Co decreased its position in shares of General Dynamics Co. (NYSE:GD) by 0.9% in the 3rd quarter, Holdings Channel reports. The fund owned 14,148 shares of the aerospace company’s stock after selling 134 shares during the quarter. General Dynamics accounts for approximately 1.6% of Somerset Trust Co’s holdings, making the stock its 21st largest position. Somerset Trust Co’s holdings in General Dynamics were worth $4,276,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GD. Gladstone Capital Management LLP bought a new stake in shares of General Dynamics during the 4th quarter valued at $3,869,000. SWP Financial LLC bought a new position in shares of General Dynamics in the fourth quarter worth $227,000. Sanibel Captiva Trust Company Inc. purchased a new stake in shares of General Dynamics in the fourth quarter worth $28,107,000. Kingsview Wealth Management LLC grew its position 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 buying an additional 6,858 shares in the last quarter. Finally, Clearbridge Investments LLC bought a new position in General Dynamics in the 1st quarter worth about $493,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GD. TD Cowen raised General Dynamics to a “strong-buy” rating in a report on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research report on Thursday, July 25th. Robert W. Baird reiterated an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a research report on Tuesday, July 2nd. Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $334.00 to $317.00 in a research note on Tuesday, October 1st. Finally, BTIG Research initiated coverage on General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, General Dynamics has an average rating of “Moderate Buy” and a consensus price target of $317.06.

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction on 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 directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.52% of the company’s stock.

General Dynamics Stock Up 0.6 %

Shares of General Dynamics stock opened at $298.69 on Thursday. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 12-month low of $232.29 and a 12-month high of $309.97. The company has a market cap of $81.95 billion, a P/E ratio of 24.36, a PEG ratio of 1.68 and a beta of 0.61. The company’s fifty day simple moving average is $297.51 and its two-hundred day simple moving average is $293.36.

General Dynamics (NYSE:GD) last issued 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). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter in the previous year, the business earned $2.70 earnings per share. The firm’s revenue was up 18.0% compared to the same quarter last year. Research analysts anticipate that General Dynamics Co. will post 14.52 EPS 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 paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

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.