STAR Financial Bank Cuts Holdings in General Dynamics Co. (NYSE:GD)

STAR Financial Bank trimmed its holdings in shares of General Dynamics Co. (NYSE:GDFree Report) by 7.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,156 shares of the aerospace company’s stock after selling 165 shares during the quarter. STAR Financial Bank’s holdings in General Dynamics were worth $609,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new position in General Dynamics in the fourth quarter worth $728,284,000. Wellington Management Group LLP grew its holdings in General Dynamics by 12.0% in the third 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 during the last quarter. International Assets Investment Management LLC grew its holdings in General Dynamics by 10,763.2% in the fourth quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock worth $239,829,000 after purchasing an additional 915,091 shares during the last quarter. Verity & Verity LLC purchased a new position in General Dynamics in the first quarter worth $179,000. Finally, 1832 Asset Management L.P. grew its holdings in General Dynamics by 3,645.4% in the fourth quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock worth $145,048,000 after purchasing an additional 543,672 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of General Dynamics stock traded up $2.40 during trading hours on Wednesday, reaching $281.91. The stock had a trading volume of 955,163 shares, compared to its average volume of 1,055,214. General Dynamics Co. has a twelve month low of $212.58 and a twelve month high of $302.75. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average is $293.69 and its 200 day moving average is $279.61. The firm has a market capitalization of $77.35 billion, a PE ratio of 22.99, a PEG ratio of 1.60 and a beta of 0.60.

General Dynamics (NYSE:GDGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The business had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. During the same period in the prior year, the company posted $2.64 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. Equities analysts expect that General Dynamics Co. will post 14.56 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be paid a dividend of $1.42 per share. The ex-dividend date is Friday, July 5th. This represents a $5.68 annualized dividend and a yield of 2.01%. General Dynamics’s dividend payout ratio is presently 46.33%.

Insider Activity

In other news, VP William A. Moss sold 21,050 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $294.85, for a total value of $6,206,592.50. Following the completion of the sale, the vice president now owns 16,624 shares of the company’s stock, valued at approximately $4,901,586.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Leon Rudy F. De sold 2,570 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $288.00, for a total value of $740,160.00. Following the transaction, the director now directly owns 5,518 shares in the company, valued at approximately $1,589,184. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP William A. Moss sold 21,050 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $294.85, for a total transaction of $6,206,592.50. Following the completion of the transaction, the vice president now owns 16,624 shares in the company, valued at $4,901,586.40. The disclosure for this sale can be found here. Insiders sold a total of 118,486 shares of company stock valued at $34,391,642 in the last 90 days. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GD. The Goldman Sachs Group lifted their price target on shares of General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. StockNews.com lowered shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Citigroup boosted their price objective on shares of General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Jefferies Financial Group raised shares of General Dynamics from a “hold” rating to a “buy” rating and boosted their price objective for the company from $305.00 to $335.00 in a report on Monday, April 29th. Finally, Royal Bank of Canada dropped their price objective on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $305.56.

Get Our Latest Analysis on GD

General Dynamics Profile

(Free Report)

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.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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