Grove Bank & Trust Purchases 34 Shares of General Dynamics Co. (NYSE:GD)

by · The Markets Daily

Grove Bank & Trust boosted its position in shares of General Dynamics Co. (NYSE:GD – Free Report) by 10.6% in the third quarter, Holdings Channel.com reports. The firm owned 354 shares of the aerospace company’s stock after acquiring an additional 34 shares during the period. Grove Bank & Trust’s holdings in General Dynamics were worth $107,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its holdings in General Dynamics by 4.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock worth $2,216,599,000 after purchasing an additional 293,316 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of General Dynamics by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock worth $1,351,041,000 after buying an additional 115,063 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of General Dynamics by 2.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock worth $601,756,000 after buying an additional 47,915 shares during the last quarter. Boston Partners boosted its stake in shares of General Dynamics by 1.4% during the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock worth $474,927,000 after buying an additional 23,262 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of General Dynamics by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock worth $466,049,000 after buying an additional 23,304 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GD shares. Wells Fargo & Company downgraded shares of General Dynamics from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $334.00 to $317.00 in a research note on Tuesday, October 1st. Citigroup increased their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Barclays increased their price objective on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Seven 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $319.06.

Get Our Latest Analysis on General Dynamics

General Dynamics Stock Up 0.8 %

General Dynamics stock opened at $301.97 on Tuesday. The stock has a market cap of $82.85 billion, a P/E ratio of 24.63, a P/E/G ratio of 1.67 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a twelve month low of $232.29 and a twelve month high of $309.97. The company’s 50-day moving average price is $298.03 and its two-hundred day moving average price is $293.84.

General Dynamics (NYSE:GD – Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). The company had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm’s revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.70 earnings per share. As a group, analysts expect that General Dynamics Co. will post 14.38 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.88%. General Dynamics’s dividend payout ratio is currently 46.33%.

General Dynamics Profile

(Free Report)

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.

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