General Dynamics Co. (NYSE:GD) Stock Position Lifted by Norway Savings Bank

Norway Savings Bank increased its stake in General Dynamics Co. (NYSE:GD) by 4.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,983 shares of the aerospace company’s stock after buying an additional 174 shares during the quarter. Norway Savings Bank’s holdings in General Dynamics were worth $1,049,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Coston McIsaac & Partners boosted its holdings in shares of General Dynamics by 22.8% in the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after acquiring an additional 33 shares in the last quarter. Global X Japan Co. Ltd. increased its position in shares of General Dynamics by 2.3% during the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock valued at $448,000 after purchasing an additional 33 shares during the period. Grove Bank & Trust raised its stake in shares of General Dynamics by 10.6% in the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after buying an additional 34 shares in the last quarter. Trueblood Wealth Management LLC lifted its holdings in shares of General Dynamics by 1.6% in the third quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock valued at $672,000 after buying an additional 34 shares during the period. Finally, Rathbones Group PLC boosted its stake in General Dynamics by 1.8% during the second quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock valued at $587,000 after buying an additional 35 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the transaction, the vice president now owns 20,296 shares in the company, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.52% of the stock is owned by corporate insiders.

General Dynamics Stock Up 0.3 %

Shares of GD stock traded up $0.77 on Tuesday, hitting $258.76. The company’s stock had a trading volume of 720,587 shares, compared to its average volume of 1,402,053. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The stock has a market capitalization of $71.15 billion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 1.62 and a beta of 0.61. General Dynamics Co. has a fifty-two week low of $247.36 and a fifty-two week high of $316.90. The firm’s fifty day moving average price is $279.46 and its 200-day moving average price is $290.01.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The company had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. General Dynamics’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.04 EPS. Research analysts anticipate that General Dynamics Co. will post 13.84 EPS for the current year.

General Dynamics declared that its board has approved a share repurchase program on Wednesday, December 4th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 annualized dividend and a yield of 2.20%. General Dynamics’s dividend payout ratio (DPR) is presently 43.26%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Royal Bank of Canada cut shares of General Dynamics from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $330.00 to $290.00 in a report on Thursday, December 19th. 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 report on Thursday, October 24th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Vertical Research cut General Dynamics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $352.00 to $290.00 in a research note on Monday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $311.29.

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.