General Dynamics Co. (NYSE:GD) Shares Sold by Park National Corp OH

Park National Corp OH decreased its holdings in General Dynamics Co. (NYSE:GD) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,848 shares of the aerospace company’s stock after selling 133 shares during the quarter. Park National Corp OH’s holdings in General Dynamics were worth $4,018,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GD. Andrew Hill Investment Advisors Inc. acquired a new position in General Dynamics in the 2nd quarter worth approximately $3,292,000. RFG Advisory LLC boosted its stake in General Dynamics by 2.7% in the 2nd quarter. RFG Advisory LLC now owns 7,436 shares of the aerospace company’s stock worth $2,157,000 after purchasing an additional 196 shares during the period. Czech National Bank boosted its stake in shares of General Dynamics by 8.5% during the 2nd quarter. Czech National Bank now owns 43,324 shares of the aerospace company’s stock valued at $12,570,000 after buying an additional 3,377 shares during the period. Austin Private Wealth LLC boosted its stake in shares of General Dynamics by 7.9% during the 2nd quarter. Austin Private Wealth LLC now owns 1,456 shares of the aerospace company’s stock valued at $422,000 after buying an additional 106 shares during the period. Finally, Unison Advisors LLC boosted its stake in shares of General Dynamics by 0.4% during the 2nd quarter. Unison Advisors LLC now owns 16,766 shares of the aerospace company’s stock valued at $4,864,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analysts Set New Price Targets

GD has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Argus upped their target price on shares of General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Citigroup boosted their price target on shares of General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Sanford C. Bernstein upped their target price on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Finally, Robert W. Baird reissued an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research note on Tuesday, July 2nd. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and an average price target of $315.06.

Insider Activity

In other news, VP Mark Lagrand Burns sold 12,089 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $296.59, for a total value of $3,585,476.51. Following the sale, the vice president now directly owns 64,132 shares in the company, valued at approximately $19,020,909.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Mark Lagrand Burns sold 12,089 shares of General Dynamics stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $296.59, for a total transaction of $3,585,476.51. Following the sale, the vice president now directly owns 64,132 shares in the company, valued at approximately $19,020,909.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the sale, the chief financial officer now owns 79,255 shares in the company, valued at $23,630,670.80. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by corporate insiders.

General Dynamics Stock Performance

NYSE:GD traded down $1.79 during mid-day trading on Monday, reaching $291.20. 1,054,784 shares of the company’s stock were exchanged, compared to its average volume of 1,070,457. General Dynamics Co. has a one year low of $214.53 and a one year high of $302.75. The firm has a market capitalization of $79.89 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 1.68 and a beta of 0.60. The business’s fifty day simple moving average is $291.27 and its two-hundred day simple moving average is $285.33. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same period in the prior year, the business earned $2.70 earnings per share. General Dynamics’s quarterly revenue was up 18.0% compared to the same quarter last year. Analysts anticipate that General Dynamics Co. will post 14.5 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.95%. General Dynamics’s payout ratio is currently 46.33%.

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.