FineMark National Bank & Trust Has $1.44 Million Position in General Dynamics Co. (NYSE:GD)

FineMark National Bank & Trust trimmed its holdings in General Dynamics Co. (NYSE:GD) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,549 shares of the aerospace company’s stock after selling 151 shares during the quarter. FineMark National Bank & Trust’s holdings in General Dynamics were worth $1,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Regent Peak Wealth Advisors LLC grew its holdings in General Dynamics by 0.4% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 10,830 shares of the aerospace company’s stock valued at $2,812,000 after purchasing an additional 41 shares during the period. Cornercap Investment Counsel Inc. lifted its position in shares of General Dynamics by 0.4% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 10,377 shares of the aerospace company’s stock valued at $2,695,000 after buying an additional 41 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of General Dynamics by 6.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 687 shares of the aerospace company’s stock worth $152,000 after acquiring an additional 42 shares during the period. Raleigh Capital Management Inc. increased its stake in shares of General Dynamics by 2.3% in the third quarter. Raleigh Capital Management Inc. now owns 1,846 shares of the aerospace company’s stock worth $408,000 after purchasing an additional 42 shares in the last quarter. Finally, Resonant Capital Advisors LLC raised its position in shares of General Dynamics by 3.3% in the fourth quarter. Resonant Capital Advisors LLC now owns 1,304 shares of the aerospace company’s stock valued at $339,000 after purchasing an additional 42 shares during the period. Institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

Shares of GD traded up $3.10 during midday trading on Friday, reaching $299.62. The stock had a trading volume of 784,155 shares, compared to its average volume of 962,608. The company has a market capitalization of $82.20 billion, a price-to-earnings ratio of 24.44, a price-to-earnings-growth ratio of 1.69 and a beta of 0.67. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. General Dynamics Co. has a 12-month low of $202.35 and a 12-month high of $301.48. The company’s 50-day moving average is $289.09 and its 200 day moving average is $269.22.

General Dynamics (NYSE:GD) last posted its quarterly earnings results 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). The business had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.64 earnings per share. On average, equities analysts predict that General Dynamics Co. will post 14.55 EPS for the current fiscal year.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 12th were issued a $1.42 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date was Thursday, April 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.90%. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

Analyst Ratings Changes

A number of research analysts recently weighed in on GD shares. Argus lifted their price objective on shares of General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Citigroup lifted their target price on General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Royal Bank of Canada cut their price objective on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Alembic Global Advisors lowered shares of General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 target price on the stock. in a report on Monday, January 29th. Finally, Susquehanna raised their price target on shares of General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a report on Friday, April 12th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $300.63.

Insider Buying and Selling

In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the sale, the chief executive officer now directly owns 768,977 shares in the company, valued at $218,773,956.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the sale, the vice president now owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Phebe N. Novakovic sold 49,850 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the transaction, the chief executive officer now directly owns 768,977 shares of the company’s stock, valued at approximately $218,773,956.50. The disclosure for this sale can be found here. Insiders have sold a total of 118,486 shares of company stock valued at $34,391,642 over the last three months. 1.52% of the stock is owned by company 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.