Truist Financial Corp Decreases Holdings in General Dynamics Co. (NYSE:GD)

Truist Financial Corp trimmed its stake in shares of General Dynamics Co. (NYSE:GD) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 313,777 shares of the aerospace company’s stock after selling 2,181 shares during the quarter. Truist Financial Corp’s holdings in General Dynamics were worth $81,479,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GD. Regent Peak Wealth Advisors LLC increased its holdings in shares of General Dynamics by 0.4% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 10,830 shares of the aerospace company’s stock valued at $2,812,000 after acquiring an additional 41 shares during the period. Cornercap Investment Counsel Inc. increased its holdings in shares of General Dynamics by 0.4% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 10,377 shares of the aerospace company’s stock valued at $2,695,000 after acquiring an additional 41 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of General Dynamics by 6.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 687 shares of the aerospace company’s stock valued at $152,000 after acquiring an additional 42 shares during the period. Raleigh Capital Management Inc. increased its holdings in shares of General Dynamics by 2.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,846 shares of the aerospace company’s stock valued at $408,000 after acquiring an additional 42 shares during the period. Finally, Resonant Capital Advisors LLC increased its holdings in shares of General Dynamics by 3.3% in the 4th quarter. Resonant Capital Advisors LLC now owns 1,304 shares of the aerospace company’s stock valued at $339,000 after acquiring an additional 42 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $264.31, for a total value of $8,551,750.05. Following the transaction, the chief executive officer now directly owns 773,977 shares in the company, valued at approximately $204,569,860.87. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.52% of the stock is owned by insiders.

General Dynamics Price Performance

Shares of General Dynamics stock traded down $0.49 on Friday, hitting $284.41. The company’s stock had a trading volume of 1,244,205 shares, compared to its average volume of 1,231,567. General Dynamics Co. has a 52-week low of $202.35 and a 52-week high of $296.50. The company has a quick ratio of 0.92, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The firm has a fifty day moving average price of $280.86 and a 200-day moving average price of $261.71. The company has a market capitalization of $78.03 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 1.81 and a beta of 0.68.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The business had revenue of $10.73 billion during the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter in the prior year, the firm earned $2.64 earnings per share. General Dynamics’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities research analysts expect that General Dynamics Co. will post 14.56 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The company also recently announced 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 yield of 2.00%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date is Thursday, April 11th. General Dynamics’s dividend payout ratio is 46.33%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Barclays boosted their price objective on shares of General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Wells Fargo & Company boosted their price objective on shares of General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. boosted their price objective on shares of General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a research note on Thursday. StockNews.com raised shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, Susquehanna boosted their price objective on shares of General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research note on Friday, April 12th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $285.63.

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.