General Dynamics Corporation $GD Shares Bought by AMG National Trust Bank

AMG National Trust Bank boosted its holdings in shares of General Dynamics Corporation (NYSE:GD) by 67.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,308 shares of the aerospace company’s stock after buying an additional 2,139 shares during the quarter. AMG National Trust Bank’s holdings in General Dynamics were worth $1,822,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. KERR FINANCIAL PLANNING Corp purchased a new position in shares of General Dynamics during the third quarter worth $25,000. Whipplewood Advisors LLC boosted its holdings in General Dynamics by 1,725.0% in the first quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 69 shares during the last quarter. Dagco Inc. purchased a new stake in General Dynamics in the fourth quarter valued at $25,000. Burkett Financial Services LLC grew its position in General Dynamics by 650.0% during the 3rd quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 65 shares during the period. Finally, Steph & Co. raised its stake in shares of General Dynamics by 65.2% during the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock valued at $26,000 after buying an additional 30 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Down 0.9%

GD stock opened at $369.25 on Wednesday. General Dynamics Corporation has a 52 week low of $293.95 and a 52 week high of $380.71. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. The firm has a 50-day simple moving average of $351.50 and a 200-day simple moving average of $350.04. The stock has a market capitalization of $99.86 billion, a P/E ratio of 23.24, a P/E/G ratio of 2.25 and a beta of 0.34.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The company had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. During the same quarter last year, the firm posted $3.66 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. Equities analysts forecast that General Dynamics Corporation will post 16.64 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be paid a dividend of $1.59 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $6.36 dividend on an annualized basis and a yield of 1.7%. General Dynamics’s payout ratio is 40.03%.

Wall Street Analyst Weigh In

GD has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on General Dynamics from $385.00 to $400.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Wall Street Zen raised shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Morgan Stanley boosted their target price on shares of General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. DA Davidson lowered their price target on shares of General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Finally, Weiss Ratings upgraded shares of General Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $391.15.

Insider Activity

In related news, Director Mark Malcolm sold 5,480 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total value of $2,000,200.00. Following the completion of the transaction, the director directly owned 10,643 shares in the company, valued at approximately $3,884,695. This represents a 33.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark Lagrand Burns sold 36,480 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the sale, the executive vice president owned 38,975 shares in the company, valued at approximately $13,457,677.75. This trade represents a 48.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 78,190 shares of company stock worth $27,041,022 over the last quarter. 1.40% of the stock is currently owned by company insiders.

General Dynamics Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.