General Dynamics Co. (NYSE:GD) Position Cut by Indiana Trust & Investment Management CO

Indiana Trust & Investment Management CO trimmed its stake in General Dynamics Co. (NYSE:GD) by 1.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 5,080 shares of the aerospace company’s stock after selling 55 shares during the quarter. Indiana Trust & Investment Management CO’s holdings in General Dynamics were worth $1,435,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. MeadowBrook Investment Advisors LLC bought a new stake in shares of General Dynamics during the fourth quarter valued at about $25,000. Richardson Financial Services Inc. bought a new stake in shares of General Dynamics during the fourth quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of General Dynamics during the first quarter valued at about $29,000. Scarborough Advisors LLC bought a new stake in shares of General Dynamics during the fourth quarter valued at about $33,000. Finally, Voisard Asset Management Group Inc. bought a new stake in shares of General Dynamics during the fourth quarter valued at about $36,000. 86.14% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Gregory S. Gallopoulos sold 13,567 shares of General Dynamics stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the sale, the vice president now directly owns 103,345 shares in the company, valued at approximately $29,816,065.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $288.51, for a total value of $3,914,215.17. Following the completion of the sale, the vice president now directly owns 103,345 shares in the company, valued at approximately $29,816,065.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total value of $3,978,647.04. Following the completion of the sale, the chief financial officer now owns 79,255 shares of the company’s stock, valued at $23,630,670.80. The disclosure for this sale can be found here. Insiders sold a total of 118,486 shares of company stock worth $34,391,642 in the last three months. 1.52% of the stock is owned by insiders.

General Dynamics Stock Down 0.8 %

NYSE:GD traded down $2.36 on Friday, hitting $290.14. 2,253,267 shares of the company’s stock traded hands, compared to its average volume of 1,055,170. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. General Dynamics Co. has a 1 year low of $210.65 and a 1 year high of $302.75. The firm has a 50-day moving average price of $294.10 and a 200-day moving average price of $277.37. The company has a market cap of $79.60 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 1.68 and a beta of 0.64.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The business had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. During the same period last year, the firm earned $2.64 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. Equities analysts anticipate that General Dynamics Co. will post 14.55 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders 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 annualized dividend and a dividend yield of 1.96%. General Dynamics’s dividend payout ratio is 46.33%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Jefferies Financial Group upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $305.00 to $335.00 in a research report on Monday, April 29th. Citigroup boosted their price target on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Barclays boosted 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. JPMorgan Chase & Co. boosted their price target on shares of General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Finally, BTIG Research initiated coverage on shares of General Dynamics in a research report on Wednesday. They issued a “buy” rating and a $345.00 price target on the stock. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $303.24.

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.