Indiana Trust & Investment Management Co Reduces Holdings in General Dynamics Co. (NYSE:GD)

Indiana Trust & Investment Management Co reduced its stake in General Dynamics Co. (NYSE:GD) by 15.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,294 shares of the aerospace company’s stock after selling 806 shares during the period. Indiana Trust & Investment Management Co’s holdings in General Dynamics were worth $1,131,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Coston McIsaac & Partners increased its holdings in General Dynamics by 22.8% during the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after purchasing an additional 33 shares during the period. Global X Japan Co. Ltd. increased its stake in shares of General Dynamics by 2.3% during the third quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock valued at $448,000 after buying an additional 33 shares during the period. Grove Bank & Trust raised its holdings in shares of General Dynamics by 10.6% during the third quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock valued at $107,000 after acquiring an additional 34 shares in the last quarter. Trueblood Wealth Management LLC lifted its stake in General Dynamics by 1.6% in the third quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock worth $672,000 after acquiring an additional 34 shares during the period. Finally, Jeppson Wealth Management LLC boosted its holdings in General Dynamics by 3.8% in the third quarter. Jeppson Wealth Management LLC now owns 955 shares of the aerospace company’s stock valued at $289,000 after acquiring an additional 35 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

GD has been the subject of several research analyst reports. Susquehanna dropped their target price on shares of General Dynamics from $315.00 to $300.00 and set a “positive” rating for the company in a research report on Thursday, January 30th. Vertical Research downgraded shares of General Dynamics from a “buy” rating to a “hold” rating and reduced their target price for the stock from $352.00 to $290.00 in a research report on Monday, January 6th. The Goldman Sachs Group lowered their price target on shares of General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $300.00 target price (down previously from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, General Dynamics presently has an average rating of “Hold” and a consensus price target of $298.59.

General Dynamics Stock Performance

GD stock opened at $256.92 on Wednesday. The stock’s fifty day moving average price is $264.07 and its 200-day moving average price is $285.32. The company has a market cap of $70.65 billion, a P/E ratio of 18.84, a price-to-earnings-growth ratio of 1.61 and a beta of 0.61. General Dynamics Co. has a 1 year low of $247.01 and a 1 year high of $316.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. On average, equities analysts forecast that General Dynamics Co. will post 14.84 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 17th were paid a $1.42 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a yield of 2.21%. General Dynamics’s payout ratio is presently 41.64%.

General Dynamics announced that its board has initiated a stock repurchase plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the sale, the director now directly owns 11,175 shares of the company’s stock, valued at $2,857,224. This represents a 13.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the transaction, the vice president now directly owns 20,296 shares of the company’s stock, valued at $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by company insiders.

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.