Somerset Trust Co Acquires 278 Shares of General Dynamics Co. (NYSE:GD)

Somerset Trust Co increased its holdings in General Dynamics Co. (NYSE:GDFree Report) by 2.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,333 shares of the aerospace company’s stock after purchasing an additional 278 shares during the period. General Dynamics makes up 1.7% of Somerset Trust Co’s investment portfolio, making the stock its 22nd biggest holding. Somerset Trust Co’s holdings in General Dynamics were worth $4,049,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. MeadowBrook Investment Advisors LLC bought a new stake in General Dynamics during the fourth quarter valued at about $25,000. Richardson Financial Services Inc. acquired a new position in shares of General Dynamics during the fourth quarter valued at about $25,000. Scarborough Advisors LLC acquired a new position in shares of General Dynamics during the fourth quarter valued at about $33,000. Voisard Asset Management Group Inc. acquired a new position in shares of General Dynamics during the fourth quarter valued at about $36,000. Finally, Rakuten Securities Inc. acquired a new position in shares of General Dynamics during the fourth quarter valued at about $38,000. 86.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Leon Rudy F. De sold 2,570 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $288.00, for a total transaction of $740,160.00. Following the sale, the director now directly owns 5,518 shares in the company, valued at $1,589,184. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other General Dynamics news, Director Leon Rudy F. De sold 2,570 shares of General Dynamics stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $288.00, for a total value of $740,160.00. Following the sale, the director now directly owns 5,518 shares in the company, valued at approximately $1,589,184. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the completion of the sale, the chief financial officer now owns 79,255 shares in the company, valued at $23,630,670.80. The disclosure for this sale can be found here. Insiders have sold a total of 118,486 shares of company stock worth $34,391,642 over the last ninety days. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GD shares. Barclays increased their price target on shares of General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Susquehanna increased their price target on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. raised their price objective on shares of General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Citigroup raised their price objective on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, Jefferies Financial Group raised shares of General Dynamics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $305.00 to $335.00 in a report on Monday, April 29th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $300.63.

Check Out Our Latest Research Report on GD

General Dynamics Trading Up 1.4 %

Shares of NYSE GD traded up $4.17 during midday trading on Wednesday, reaching $298.00. 748,596 shares of the stock were exchanged, compared to its average volume of 768,507. The business has a 50-day simple moving average of $292.81 and a two-hundred day simple moving average of $275.62. The company has a market capitalization of $81.76 billion, a price-to-earnings ratio of 24.31, a P/E/G ratio of 1.68 and a beta of 0.64. General Dynamics Co. has a 12 month low of $209.25 and a 12 month high of $302.42. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87.

General Dynamics (NYSE:GDGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The firm had revenue of $10.73 billion for the quarter, compared to the consensus estimate of $10.26 billion. During the same period in the prior year, the business earned $2.64 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities research analysts expect that General Dynamics Co. will post 14.55 EPS for the current year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.91%. General Dynamics’s payout ratio is 46.33%.

About General Dynamics

(Free Report)

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.

See Also

Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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