General Dynamics Co. (NYSE:GD) Shares Sold by Burke & Herbert Bank & Trust Co.

Burke & Herbert Bank & Trust Co. lowered its holdings in General Dynamics Co. (NYSE:GD) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,997 shares of the aerospace company’s stock after selling 250 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in General Dynamics were worth $1,510,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC increased its stake in General Dynamics by 40,389.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock worth $416,876,000 after purchasing an additional 1,376,065 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in shares of General Dynamics by 2,189.3% during the second quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock valued at $108,572,000 after acquiring an additional 357,861 shares during the period. Public Employees Retirement Association of Colorado boosted its stake in General Dynamics by 879.9% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock worth $96,148,000 after purchasing an additional 305,624 shares during the period. Massachusetts Financial Services Co. MA grew its position in General Dynamics by 4.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock worth $2,216,599,000 after purchasing an additional 293,316 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of General Dynamics by 24.2% in the second quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock valued at $391,119,000 after purchasing an additional 262,164 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Insider Transactions at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GD. Sanford C. Bernstein dropped their price target on 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 restated an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a report on Tuesday, July 2nd. Citigroup increased their target price on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Susquehanna boosted their price target on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a report on Thursday, October 17th. Finally, Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, General Dynamics has an average rating of “Moderate Buy” and a consensus price target of $323.88.

General Dynamics Stock Performance

Shares of NYSE GD traded up $2.42 during trading hours on Friday, hitting $303.69. 49,417 shares of the stock were exchanged, compared to its average volume of 1,089,169. The firm has a market capitalization of $83.32 billion, a P/E ratio of 24.57, a P/E/G ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a one year low of $236.58 and a one year high of $313.11. 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’s 50 day moving average is $300.17 and its 200 day moving average is $294.55.

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

General Dynamics Dividend Announcement

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

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.