Huntington National Bank trimmed its holdings in shares of General Dynamics Co. (NYSE:GD) by 4.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 18,676 shares of the aerospace company’s stock after selling 821 shares during the period. Huntington National Bank’s holdings in General Dynamics were worth $3,824,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. CSat Investment Advisory L.P. bought a new position in shares of General Dynamics during the 2nd quarter worth about $101,000. CX Institutional bought a new position in shares of General Dynamics during the 2nd quarter worth about $107,000. James Investment Research Inc. bought a new position in shares of General Dynamics during the 2nd quarter worth about $112,000. BerganKDV Wealth Management LLC bought a new position in shares of General Dynamics during the 2nd quarter worth about $114,000. Finally, Fort L.P. bought a new position in shares of General Dynamics during the 2nd quarter worth about $117,000. 85.45% of the stock is owned by institutional investors.
In other news, insider John Patrick Casey sold 22,500 shares of General Dynamics stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $193.28, for a total transaction of $4,348,800.00. Following the completion of the sale, the insider now owns 118,555 shares in the company, valued at approximately $22,914,310.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider S. Daniel Johnson sold 77,810 shares of General Dynamics stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $199.85, for a total transaction of $15,550,328.50. Following the sale, the insider now owns 99,333 shares of the company’s stock, valued at approximately $19,851,700.05. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
GD opened at $190.26 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.20 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $56.51 billion, a price-to-earnings ratio of 19.12, a P/E/G ratio of 1.53 and a beta of 0.78. General Dynamics Co. has a 1-year low of $184.21 and a 1-year high of $230.00.
General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 25th. The aerospace company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.33. The firm had revenue of $9.19 billion during the quarter, compared to analysts’ expectations of $9.09 billion. General Dynamics had a net margin of 9.16% and a return on equity of 27.06%. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.45 EPS. As a group, equities research analysts forecast that General Dynamics Co. will post 11.23 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 5th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, October 4th. General Dynamics’s payout ratio is presently 37.39%.
Several equities analysts recently issued reports on GD shares. Zacks Investment Research downgraded shares of General Dynamics from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. Bank of America set a $275.00 price target on shares of General Dynamics and gave the company a “buy” rating in a report on Tuesday, July 31st. ValuEngine raised shares of General Dynamics from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. Credit Suisse Group lifted their price target on shares of General Dynamics from $224.00 to $229.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. Finally, Cowen reissued a “buy” rating and set a $253.00 price target on shares of General Dynamics in a report on Monday, October 15th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $241.12.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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