Somerset Trust Co Has $4.28 Million Holdings in General Dynamics Co. (NYSE:GD)

Somerset Trust Co reduced its holdings in shares of General Dynamics Co. (NYSE:GD) by 0.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,148 shares of the aerospace company’s stock after selling 134 shares during the quarter. General Dynamics makes up about 1.6% of Somerset Trust Co’s portfolio, making the stock its 21st biggest holding. Somerset Trust Co’s holdings in General Dynamics were worth $4,276,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new stake in General Dynamics during the first quarter worth approximately $25,000. Richardson Financial Services Inc. acquired a new stake in General Dynamics during the 4th quarter worth approximately $25,000. American Capital Advisory LLC bought a new stake in General Dynamics in the 2nd quarter valued at $29,000. Lowe Wealth Advisors LLC acquired a new position in General Dynamics in the 3rd quarter valued at $30,000. Finally, Financial Synergies Wealth Advisors Inc. bought a new position in General Dynamics during the 1st quarter worth $29,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GD. Barclays boosted their price target on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $334.00 to $317.00 in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft dropped their price target on General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. BTIG Research initiated coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $317.06.

General Dynamics Stock Up 0.6 %

Shares of General Dynamics stock opened at $298.69 on Thursday. The firm has a market cap of $81.95 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.68 and a beta of 0.61. The stock’s 50-day moving average is $297.51 and its 200 day moving average is $293.36. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. General Dynamics Co. has a one year low of $232.29 and a one year high of $309.97.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. During the same quarter in the previous year, the business posted $2.70 earnings per share. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. Equities research analysts anticipate that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.52% of the stock is currently owned by insiders.

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.