Adirondack Trust Co. Sells 82 Shares of General Dynamics Co. (NYSE:GD)

Adirondack Trust Co. lessened its holdings in shares of General Dynamics Co. (NYSE:GDFree Report) by 2.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,098 shares of the aerospace company’s stock after selling 82 shares during the period. Adirondack Trust Co.’s holdings in General Dynamics were worth $847,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MeadowBrook Investment Advisors LLC bought a new position in shares of General Dynamics during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. bought a new position in General Dynamics in the fourth quarter worth $25,000. Scarborough Advisors LLC bought a new position in General Dynamics in the fourth quarter worth $33,000. Voisard Asset Management Group Inc. bought a new position in General Dynamics in the fourth quarter worth $36,000. Finally, Rakuten Securities Inc. bought a new position in General Dynamics in the fourth quarter worth $38,000. Institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Sanford C. Bernstein increased their price objective on General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Barclays increased their price objective on General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. The Goldman Sachs Group increased their target price on General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. increased their target price on General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, Citigroup increased their target price on General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and an average target price of $300.63.

Get Our Latest Report on General Dynamics

Insider Transactions at General Dynamics

In other news, VP Gregory S. Gallopoulos sold 13,567 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $288.51, for a total value of $3,914,215.17. Following the transaction, the vice president now owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Gregory S. Gallopoulos sold 13,567 shares of General Dynamics stock in a transaction that occurred 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 owns 103,345 shares of the company’s stock, valued at approximately $29,816,065.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Phebe N. Novakovic sold 49,850 shares of General Dynamics stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 768,977 shares in the company, valued at approximately $218,773,956.50. The disclosure for this sale can be found here. Insiders have sold 118,486 shares of company stock valued at $34,391,642 over the last quarter. 1.60% of the stock is currently owned by company insiders.

General Dynamics Stock Performance

NYSE:GD traded up $1.47 on Tuesday, hitting $295.30. The stock had a trading volume of 91,593 shares, compared to its average volume of 1,034,574. The stock has a market cap of $81.02 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 1.66 and a beta of 0.64. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The business’s 50-day simple moving average is $292.62 and its two-hundred day simple moving average is $275.28. General Dynamics Co. has a 52-week low of $209.25 and a 52-week high of $302.42.

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

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a $1.42 dividend. The ex-dividend date is Friday, July 5th. This represents a $5.68 annualized dividend and a yield of 1.92%. General Dynamics’s payout ratio is 46.33%.

General Dynamics Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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