Glenview Trust co Acquires 993 Shares of General Dynamics Co. (NYSE:GD)

Glenview Trust co increased its holdings in shares of General Dynamics Co. (NYSE:GD) by 9.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,228 shares of the aerospace company’s stock after purchasing an additional 993 shares during the quarter. Glenview Trust co’s holdings in General Dynamics were worth $2,958,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of GD. Patten & Patten Inc. TN lifted its stake in shares of General Dynamics by 13.3% in the 4th quarter. Patten & Patten Inc. TN now owns 2,073 shares of the aerospace company’s stock valued at $546,000 after purchasing an additional 243 shares during the period. Harbour Investments Inc. lifted its stake in General Dynamics by 5.0% in the fourth quarter. Harbour Investments Inc. now owns 3,421 shares of the aerospace company’s stock valued at $901,000 after buying an additional 163 shares during the period. Corient Private Wealth LLC boosted its holdings in General Dynamics by 5.3% during the fourth quarter. Corient Private Wealth LLC now owns 114,661 shares of the aerospace company’s stock worth $29,883,000 after buying an additional 5,765 shares during the last quarter. one8zero8 LLC acquired a new position in shares of General Dynamics during the 4th quarter worth about $751,000. Finally, Greykasell Wealth Strategies Inc. bought a new stake in shares of General Dynamics in the 4th quarter valued at about $522,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the sale, the director now owns 11,175 shares in the company, valued at approximately $2,857,224. This represents a 13.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction on Monday, March 10th. The stock was sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the transaction, the senior vice president now directly owns 45,192 shares of the company’s stock, valued at approximately $12,297,195.12. This trade represents a 37.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is owned by insiders.

General Dynamics Trading Up 0.4 %

General Dynamics stock opened at $262.19 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. The firm has a 50-day moving average of $257.89 and a 200-day moving average of $278.77. The company has a market cap of $70.88 billion, a price-to-earnings ratio of 19.22, a P/E/G ratio of 1.69 and a beta of 0.59. General Dynamics Co. has a one year low of $239.87 and a one year high of $316.90.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. On average, equities analysts expect that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 4th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the aerospace company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, April 11th. This is an increase from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s dividend payout ratio (DPR) is 43.99%.

Analysts Set New Price Targets

Several research analysts recently weighed in on GD shares. Baird R W lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Susquehanna decreased their price target on shares of General Dynamics from $315.00 to $300.00 and set a “positive” rating for the company in a report on Thursday, January 30th. Vertical Research downgraded General Dynamics from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $352.00 to $290.00 in a research note on Monday, January 6th. TD Cowen lowered their price target on General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. Finally, Wells Fargo & Company lifted their price objective on General Dynamics from $244.00 to $261.00 and gave the company an “equal weight” rating in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $297.71.

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.