General Dynamics Co. (NYSE:GD) Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky lowered its stake in shares of General Dynamics Co. (NYSE:GD) by 2.5% in the third quarter, HoldingsChannel reports. The firm owned 6,814 shares of the aerospace company’s stock after selling 178 shares during the quarter. Independence Bank of Kentucky’s holdings in General Dynamics were worth $2,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bontempo Ohly Capital Mgmt LLC boosted its position in General Dynamics by 2.7% during the 4th quarter. Bontempo Ohly Capital Mgmt LLC now owns 16,135 shares of the aerospace company’s stock worth $4,190,000 after acquiring an additional 426 shares during the period. Gladstone Capital Management LLP acquired a new position in General Dynamics during the 4th quarter worth $3,869,000. Occudo Quantitative Strategies LP acquired a new position in General Dynamics during the 4th quarter worth $4,514,000. Studio Investment Management LLC boosted its position in General Dynamics by 1.6% during the 4th quarter. Studio Investment Management LLC now owns 24,573 shares of the aerospace company’s stock worth $6,381,000 after acquiring an additional 379 shares during the period. Finally, Sanibel Captiva Trust Company Inc. acquired a new position in General Dynamics during the 4th quarter worth $28,107,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Up 0.1 %

NYSE:GD traded up $0.39 during trading hours on Friday, hitting $296.44. 46,490 shares of the company’s stock traded hands, compared to its average volume of 1,090,707. The firm has a market cap of $81.46 billion, a P/E ratio of 23.10, a P/E/G ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a twelve month low of $232.29 and a twelve month high of $309.97. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The stock’s fifty day moving average price is $297.56 and its two-hundred day moving average price is $293.37.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). The business had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.70 earnings per share. On average, research analysts expect that General Dynamics Co. will post 14.38 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is 44.31%.

Insider Activity at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now owns 3,592 shares in the company, valued at $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.52% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price target on General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $334.00 to $317.00 in a research report on Tuesday, October 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a research note on Thursday, July 25th. BTIG Research began coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective on the stock. Finally, TD Cowen raised General Dynamics to a “strong-buy” rating in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $319.06.

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.