OLD National Bancorp IN Reduces Holdings in General Dynamics Co. (NYSE:GD)

OLD National Bancorp IN trimmed its holdings in shares of General Dynamics Co. (NYSE:GD) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,266 shares of the aerospace company’s stock after selling 168 shares during the period. OLD National Bancorp IN’s holdings in General Dynamics were worth $2,146,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of General Dynamics by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 22,423,961 shares of the aerospace company’s stock worth $4,955,023,000 after purchasing an additional 133,061 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of General Dynamics by 12.0% during the 3rd quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock worth $3,615,185,000 after purchasing an additional 1,755,276 shares in the last quarter. Sanders Capital LLC increased its stake in shares of General Dynamics by 0.4% during the 3rd quarter. Sanders Capital LLC now owns 4,017,057 shares of the aerospace company’s stock worth $887,649,000 after purchasing an additional 17,061 shares in the last quarter. FMR LLC increased its stake in shares of General Dynamics by 13.7% during the 3rd quarter. FMR LLC now owns 2,293,269 shares of the aerospace company’s stock worth $506,744,000 after purchasing an additional 275,947 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of General Dynamics by 4.5% during the 3rd quarter. Northern Trust Corp now owns 2,258,362 shares of the aerospace company’s stock worth $499,030,000 after purchasing an additional 97,789 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at General Dynamics

In related news, EVP Mark C. Roualet sold 73,330 shares of General Dynamics stock in a transaction on Friday, January 26th. The shares were sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the transaction, the executive vice president now owns 149,205 shares in the company, valued at approximately $39,502,023.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Phebe N. Novakovic sold 32,355 shares of General Dynamics stock in a transaction on Monday, January 29th. The shares were sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the transaction, the chief executive officer now owns 773,977 shares in the company, valued at approximately $204,569,860.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark C. Roualet sold 73,330 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the completion of the transaction, the executive vice president now owns 149,205 shares in the company, valued at approximately $39,502,023.75. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

General Dynamics Stock Up 0.9 %

Shares of NYSE GD opened at $291.31 on Tuesday. General Dynamics Co. has a 52-week low of $202.35 and a 52-week high of $296.50. The firm has a fifty day moving average of $279.51 and a 200-day moving average of $260.57. The stock has a market capitalization of $79.93 billion, a PE ratio of 24.24, a P/E/G ratio of 1.83 and a beta of 0.68. The company has a quick ratio of 0.92, a current ratio of 1.44 and a debt-to-equity ratio of 0.41.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $3.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.68 by ($0.04). The company had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.39 billion. General Dynamics had a net margin of 7.84% and a return on equity of 16.61%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.58 earnings per share. On average, analysts anticipate that General Dynamics Co. will post 14.57 EPS for the current year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be issued a dividend of $1.42 per share. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date is Thursday, April 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.95%. General Dynamics’s payout ratio is presently 47.25%.

Wall Street Analyst Weigh In

GD has been the subject of several recent analyst reports. Alembic Global Advisors cut shares of General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 target price for the company. in a research note on Monday, January 29th. UBS Group lifted their target price on shares of General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Citigroup lifted their target price on shares of General Dynamics from $283.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Susquehanna lifted their target price on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research note on Friday, April 12th. Finally, Barclays lifted their target price on shares of General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $283.80.

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.