Bank of Stockton Sells 353 Shares of General Dynamics Co. (NYSE:GD)

Bank of Stockton trimmed its position in shares of General Dynamics Co. (NYSE:GD) by 7.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,424 shares of the aerospace company’s stock after selling 353 shares during the period. Bank of Stockton’s holdings in General Dynamics were worth $1,337,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GD. Redmont Wealth Advisors LLC bought a new stake in General Dynamics during the first quarter valued at about $25,000. MFA Wealth Advisors LLC raised its stake in General Dynamics by 241.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 58 shares during the period. New Covenant Trust Company N.A. bought a new stake in General Dynamics during the 1st quarter valued at approximately $29,000. American Capital Advisory LLC purchased a new position in General Dynamics in the 2nd quarter worth approximately $29,000. Finally, Lowe Wealth Advisors LLC bought a new position in General Dynamics in the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Up 0.9 %

Shares of GD stock traded up $2.80 during trading hours on Friday, reaching $304.07. 172,605 shares of the stock were exchanged, compared to its average volume of 1,089,764. The firm has a market capitalization of $83.43 billion, a price-to-earnings ratio of 24.57, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a 12-month low of $236.58 and a 12-month high of $313.11. The company’s 50-day moving average price is $300.17 and its 200-day moving average price is $294.55. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same period in the prior year, the company posted $3.04 EPS. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities analysts anticipate that General Dynamics Co. will post 14.38 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.87%. General Dynamics’s payout ratio is currently 46.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Sanford C. Bernstein reduced their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday. Robert W. Baird reiterated an “outperform” rating and issued a $345.00 price target on shares of General Dynamics in a research note on Tuesday, July 2nd. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Citigroup lifted their target price on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Barclays increased their price target on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $323.88.

Insider Buying and Selling at General Dynamics

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

About General Dynamics

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.