FARMERS & MERCHANTS TRUST Co OF LONG BEACH Cuts Position in General Dynamics Co. (NYSE:GD)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH reduced its holdings in shares of General Dynamics Co. (NYSE:GD) by 9.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,603 shares of the aerospace company’s stock after selling 160 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in General Dynamics were worth $465,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Modera Wealth Management LLC increased its holdings in General Dynamics by 0.4% during the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after acquiring an additional 35 shares in the last quarter. Legend Financial Advisors Inc. grew its holdings in shares of General Dynamics by 46.8% during the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after buying an additional 36 shares in the last quarter. Diversified Trust Co grew its holdings in shares of General Dynamics by 2.5% during the first quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after buying an additional 36 shares in the last quarter. Fulton Bank N.A. grew its holdings in shares of General Dynamics by 1.1% during the first quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock worth $932,000 after buying an additional 37 shares in the last quarter. Finally, Copperwynd Financial LLC increased its stake in shares of General Dynamics by 3.7% in the fourth quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock worth $274,000 after buying an additional 38 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

GD stock opened at $301.56 on Tuesday. The company has a market capitalization of $82.86 billion, a P/E ratio of 24.60, a PEG ratio of 1.60 and a beta of 0.61. The company has a 50-day simple moving average of $291.07 and a 200 day simple moving average of $289.30. General Dynamics Co. has a fifty-two week low of $214.53 and a fifty-two week high of $303.10. 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 (NYSE:GD) last posted its quarterly earnings data 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 analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.70 EPS. Sell-side analysts predict that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on GD. Wells Fargo & Company lifted their price target on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. BTIG Research began coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a research note on Thursday, July 25th. Barclays lifted their price target 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, Robert W. Baird reiterated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research note on Tuesday, July 2nd. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $315.06.

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.