General Dynamics Co. (NYSE:GD) Shares Sold by M&T Bank Corp

M&T Bank Corp lowered its position in General Dynamics Co. (NYSE:GD) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,500 shares of the aerospace company’s stock after selling 1,340 shares during the period. M&T Bank Corp’s holdings in General Dynamics were worth $14,412,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Briaud Financial Planning Inc purchased a new position in shares of General Dynamics during the 3rd quarter worth approximately $27,000. Rakuten Securities Inc. purchased a new position in General Dynamics during the fourth quarter worth $38,000. Wetzel Investment Advisors Inc. acquired a new position in shares of General Dynamics in the fourth quarter worth $38,000. Operose Advisors LLC purchased a new stake in shares of General Dynamics in the third quarter valued at $40,000. Finally, Rational Advisors LLC acquired a new stake in shares of General Dynamics during the third quarter valued at $42,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GD shares. Citigroup raised their price target on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. lifted their target price on shares of General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Susquehanna increased their price target on General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research note on Friday, April 12th. Royal Bank of Canada lowered their price objective on General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Finally, Wells Fargo & Company increased their target price on General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, General Dynamics has an average rating of “Moderate Buy” and an average target price of $300.53.

Insider Transactions at General Dynamics

In related news, CEO Phebe N. Novakovic sold 49,850 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the sale, the chief executive officer now directly owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of General Dynamics stock in a transaction on Friday, April 26th. The shares were sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the transaction, the chief executive officer now owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the sale, the vice president now directly owns 103,345 shares in the company, valued at $29,816,065.95. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Stock Up 0.3 %

GD traded up $0.78 on Friday, reaching $288.14. The company’s stock had a trading volume of 974,321 shares, compared to its average volume of 1,217,434. General Dynamics Co. has a 1 year low of $202.35 and a 1 year high of $296.50. The business’s 50 day moving average is $282.47 and its 200 day moving average is $263.37. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87. The stock has a market cap of $79.05 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 1.80 and a beta of 0.67.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.01). The business had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.64 earnings per share. As a group, research analysts forecast that General Dynamics Co. will post 14.55 EPS for the current fiscal year.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Thursday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s dividend payout ratio is 46.33%.

General Dynamics Company 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.