VeraBank N.A. Lowers Holdings in General Dynamics Co. (NYSE:GD)

VeraBank N.A. lessened its position in General Dynamics Co. (NYSE:GD) by 4.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,042 shares of the aerospace company’s stock after selling 45 shares during the period. VeraBank N.A.’s holdings in General Dynamics were worth $271,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in General Dynamics by 0.6% in the third quarter. Vanguard Group Inc. now owns 22,423,961 shares of the aerospace company’s stock worth $4,955,023,000 after acquiring an additional 133,061 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of General Dynamics by 12.0% in the 3rd quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock valued at $3,615,185,000 after purchasing an additional 1,755,276 shares in the last quarter. Sanders Capital LLC lifted its stake in shares of General Dynamics by 0.4% in the third quarter. Sanders Capital LLC now owns 4,017,057 shares of the aerospace company’s stock valued at $887,649,000 after purchasing an additional 17,061 shares during the period. FMR LLC boosted its holdings in General Dynamics by 13.7% during the third quarter. FMR LLC now owns 2,293,269 shares of the aerospace company’s stock worth $506,744,000 after buying an additional 275,947 shares in the last quarter. Finally, Northern Trust Corp grew its position in General Dynamics by 4.5% during the third quarter. Northern Trust Corp now owns 2,258,362 shares of the aerospace company’s stock worth $499,030,000 after buying an additional 97,789 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Up 0.3 %

Shares of NYSE:GD traded up $0.78 during midday trading on Friday, reaching $288.14. The company’s stock had a trading volume of 974,321 shares, compared to its average volume of 1,217,434. The firm has a market cap of $79.05 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 1.80 and a beta of 0.67. The business has a 50 day moving average price of $282.47 and a 200 day moving average price of $263.37. General Dynamics Co. has a 1 year low of $202.35 and a 1 year high of $296.50. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41.

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

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Insider Activity

In other General Dynamics news, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s 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 owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other General Dynamics news, VP Gregory S. Gallopoulos sold 13,567 shares of General Dynamics stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the transaction, the vice president now directly owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Phebe N. Novakovic sold 49,850 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were 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 disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. StockNews.com lowered General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Friday. Wells Fargo & Company upped their target price on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Citigroup lifted their price target on General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Royal Bank of Canada lowered their price objective on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Finally, Susquehanna lifted their target price 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. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $300.53.

About General Dynamics

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.