Ledyard National Bank Acquires New Position in General Dynamics Co. (NYSE:GD)

Ledyard National Bank acquired a new stake in General Dynamics Co. (NYSE:GD) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 720 shares of the aerospace company’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Raleigh Capital Management Inc. increased its holdings in General Dynamics by 4.6% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,831 shares of the aerospace company’s stock worth $553,000 after buying an additional 81 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in General Dynamics by 22.7% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 703 shares of the aerospace company’s stock worth $212,000 after buying an additional 130 shares during the period. Whittier Trust Co. increased its holdings in General Dynamics by 1.9% in the 3rd quarter. Whittier Trust Co. now owns 10,988 shares of the aerospace company’s stock worth $3,320,000 after buying an additional 209 shares during the period. Toth Financial Advisory Corp increased its holdings in General Dynamics by 2.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 22,359 shares of the aerospace company’s stock worth $6,757,000 after buying an additional 440 shares during the period. Finally, Arlington Partners LLC increased its holdings in General Dynamics by 27.8% in the 3rd quarter. Arlington Partners LLC now owns 14,173 shares of the aerospace company’s stock worth $4,283,000 after buying an additional 3,080 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Price Performance

General Dynamics stock opened at $305.92 on Wednesday. The company’s fifty day moving average price is $299.96 and its 200 day moving average price is $294.48. General Dynamics Co. has a 1 year low of $232.29 and a 1 year high of $310.85. The stock has a market capitalization of $83.93 billion, a P/E ratio of 24.95, a P/E/G ratio of 1.67 and a beta of 0.61. 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 quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. During the same quarter in the previous year, the business posted $2.70 EPS. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. As a group, equities research analysts anticipate that General Dynamics Co. will post 14.38 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm 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. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.86%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Analyst Ratings Changes

Several brokerages recently weighed in on GD. Barclays increased their price target on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company cut shares of 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, October 1st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. BTIG Research initiated coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective on the stock. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $320.18.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.52% of the stock is currently owned by corporate insiders.

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.