Private Trust Co. NA Sells 475 Shares of General Dynamics Co. (NYSE:GD)

Private Trust Co. NA reduced its position in shares of General Dynamics Co. (NYSE:GDGet Rating) by 7.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,670 shares of the aerospace company’s stock after selling 475 shares during the quarter. Private Trust Co. NA’s holdings in General Dynamics were worth $1,367,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Bowling Portfolio Management LLC bought a new stake in General Dynamics during the 1st quarter valued at about $2,206,000. Beese Fulmer Investment Management Inc. increased its stake in General Dynamics by 0.9% during the 1st quarter. Beese Fulmer Investment Management Inc. now owns 5,460 shares of the aerospace company’s stock valued at $1,317,000 after purchasing an additional 50 shares in the last quarter. Cooper Financial Group bought a new stake in General Dynamics during the 1st quarter valued at about $260,000. Carnegie Capital Asset Management LLC increased its stake in General Dynamics by 4.6% during the 1st quarter. Carnegie Capital Asset Management LLC now owns 9,154 shares of the aerospace company’s stock valued at $2,208,000 after purchasing an additional 401 shares in the last quarter. Finally, Salvus Wealth Management LLC bought a new stake in General Dynamics during the 1st quarter valued at about $211,000. Institutional investors and hedge funds own 85.84% of the company’s stock.

A number of brokerages have recently commented on GD. Morgan Stanley lifted their price target on shares of General Dynamics from $215.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 2nd. Wells Fargo & Company lifted their price target on shares of General Dynamics from $235.00 to $282.00 and gave the stock an “overweight” rating in a research note on Monday, March 7th. Susquehanna lifted their price target on shares of General Dynamics from $280.00 to $285.00 in a research note on Thursday, April 28th. Susquehanna Bancshares lifted their price target on shares of General Dynamics from $280.00 to $285.00 in a research note on Thursday, April 28th. Finally, StockNews.com began coverage on shares of General Dynamics in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.00.

In other General Dynamics news, VP Gregory S. Gallopoulos sold 10,644 shares of the company’s stock in a transaction that occurred on Friday, April 29th. The shares were sold at an average price of $237.93, for a total value of $2,532,526.92. Following the completion of the transaction, the vice president now directly owns 124,605 shares in the company, valued at $29,647,267.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.50% of the company’s stock.

GD opened at $216.01 on Thursday. The company has a current ratio of 1.48, a quick ratio of 1.09 and a debt-to-equity ratio of 0.58. The company has a market cap of $59.99 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.81 and a beta of 0.95. The company’s 50 day moving average is $228.92 and its 200 day moving average is $223.15. General Dynamics Co. has a 12-month low of $182.66 and a 12-month high of $254.99.

General Dynamics (NYSE:GDGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The aerospace company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.12. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Dynamics had a net margin of 8.52% and a return on equity of 19.67%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.48 earnings per share. As a group, analysts predict that General Dynamics Co. will post 12.16 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 5th. Shareholders of record on Friday, July 1st will be given a $1.26 dividend. The ex-dividend date of this dividend is Thursday, June 30th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 2.33%. General Dynamics’s payout ratio is currently 43.15%.

General Dynamics Company Profile (Get Rating)

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 designs, manufactures, and sells business jets; and offers aircraft maintenance and repair, management, charter, aircraft-on-ground support and completion, staffing, and fixed-base operator services.

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

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