First National Trust Co Has $2.94 Million Stock Holdings in General Dynamics Co. (NYSE:GD)

First National Trust Co cut its position in shares of General Dynamics Co. (NYSE:GD) by 5.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,126 shares of the aerospace company’s stock after selling 617 shares during the period. First National Trust Co’s holdings in General Dynamics were worth $2,938,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Eudaimonia Partners LLC acquired a new position in shares of General Dynamics during the 4th quarter worth about $240,000. Principal Securities Inc. acquired a new position in shares of General Dynamics during the 4th quarter worth about $1,056,000. Gladstone Capital Management LLP acquired a new position in shares of General Dynamics during the 4th quarter worth about $3,869,000. SWP Financial LLC acquired a new position in General Dynamics in the 4th quarter valued at about $227,000. Finally, Sanibel Captiva Trust Company Inc. acquired a new position in General Dynamics in the 4th quarter valued at about $28,107,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $294.35 on Thursday. The company has a 50 day moving average of $290.65 and a 200-day moving average of $288.61. General Dynamics Co. has a 1-year low of $214.53 and a 1-year high of $302.75. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The company has a market cap of $80.76 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same period in the previous year, the company earned $2.70 EPS. General Dynamics’s revenue for the quarter was up 18.0% on a year-over-year basis. As a group, equities research analysts forecast that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Analyst Upgrades and Downgrades

GD has been the topic of a number of research reports. Sanford C. Bernstein upped their price target on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. BTIG Research initiated coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target on the stock. Wells Fargo & Company upped their price target on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Finally, Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and an average price target of $315.06.

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.