Arvest Trust Co. N A Sells 3,165 Shares of General Dynamics Co. (NYSE:GD)

Arvest Trust Co. N A lowered its holdings in General Dynamics Co. (NYSE:GD) by 4.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,213 shares of the aerospace company’s stock after selling 3,165 shares during the period. General Dynamics makes up 1.2% of Arvest Trust Co. N A’s investment portfolio, making the stock its 24th largest position. Arvest Trust Co. N A’s holdings in General Dynamics were worth $20,372,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Richardson Financial Services Inc. bought a new stake in General Dynamics in the fourth quarter worth $25,000. Redmont Wealth Advisors LLC bought a new position in shares of General Dynamics in the first quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of General Dynamics in the first quarter worth $29,000. New Covenant Trust Company N.A. purchased a new position in shares of General Dynamics in the first quarter valued at about $29,000. Finally, American Capital Advisory LLC bought a new position in shares of General Dynamics during the second quarter valued at about $29,000. Institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

Shares of NYSE:GD opened at $307.56 on Tuesday. The firm’s 50 day simple moving average is $293.02 and its two-hundred day simple moving average is $290.34. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The company has a market capitalization of $84.38 billion, a P/E ratio of 25.09, a P/E/G ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a 1-year low of $214.53 and a 1-year high of $309.97.

General Dynamics (NYSE:GD) last released 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). The company had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period last year, the company earned $2.70 EPS. Research analysts expect that General Dynamics Co. will post 14.52 EPS 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 paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GD. Sanford C. Bernstein lifted their price objective on General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a research note on Thursday, July 25th. Barclays lifted their price target on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company upped their price objective on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $293.00 to $345.00 in a report on Friday, August 9th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, General Dynamics currently has a consensus rating of “Moderate Buy” and a consensus target price 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.