General Dynamics Co. (NYSE:GD) Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky trimmed its position in shares of General Dynamics Co. (NYSE:GD) by 2.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 7,262 shares of the aerospace company’s stock after selling 183 shares during the period. Independence Bank of Kentucky’s holdings in General Dynamics were worth $2,051,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GD. Webster Bank N. A. increased its position in shares of General Dynamics by 5.7% in the first quarter. Webster Bank N. A. now owns 15,462 shares of the aerospace company’s stock worth $4,368,000 after acquiring an additional 839 shares in the last quarter. Norway Savings Bank raised its position in General Dynamics by 5.1% in the first quarter. Norway Savings Bank now owns 3,293 shares of the aerospace company’s stock valued at $930,000 after purchasing an additional 160 shares during the period. Kathmere Capital Management LLC lifted its stake in shares of General Dynamics by 6.6% during the first quarter. Kathmere Capital Management LLC now owns 3,112 shares of the aerospace company’s stock worth $879,000 after purchasing an additional 193 shares in the last quarter. Atwater Malick LLC purchased a new stake in shares of General Dynamics in the first quarter worth about $212,000. Finally, Norwood Financial Corp grew its stake in shares of General Dynamics by 60.8% in the first quarter. Norwood Financial Corp now owns 394 shares of the aerospace company’s stock valued at $111,000 after buying an additional 149 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Buying and Selling at General Dynamics

In related news, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of the transaction, the chief executive officer now directly owns 768,977 shares in the company, valued at approximately $218,773,956.50. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, 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 transaction of $3,978,647.04. Following the completion of the transaction, the chief financial officer now directly owns 79,255 shares in the company, valued at $23,630,670.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Phebe N. Novakovic sold 49,850 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the sale, the chief executive officer now owns 768,977 shares in the company, valued at $218,773,956.50. The disclosure for this sale can be found here. Insiders sold a total of 118,486 shares of company stock worth $34,391,642 over the last ninety days. Company insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

GD has been the topic of several recent research reports. The Goldman Sachs Group boosted their price target on General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Sanford C. Bernstein upped their target price on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. Susquehanna raised their price target on shares of General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a report on Friday, April 12th. Barclays boosted their price objective on shares of General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, Citigroup raised their target price on General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $303.24.

General Dynamics Stock Performance

Shares of NYSE GD traded down $2.36 during trading on Friday, reaching $290.14. The stock had a trading volume of 2,259,932 shares, compared to its average volume of 860,268. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.44. The stock has a market cap of $79.60 billion, a PE ratio of 23.67, a P/E/G ratio of 1.67 and a beta of 0.64. General Dynamics Co. has a one year low of $210.65 and a one year high of $302.75. The firm’s 50 day moving average price is $294.27 and its two-hundred day moving average price is $277.73.

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 the consensus estimate of $10.26 billion. During the same quarter in the previous year, the firm earned $2.64 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, research analysts forecast that General Dynamics Co. will post 14.55 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be issued a $1.42 dividend. The ex-dividend date is Friday, July 5th. This represents a $5.68 dividend on an annualized basis and a yield of 1.96%. General Dynamics’s dividend payout ratio is currently 46.33%.

General Dynamics Company 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.