General Dynamics Co. (NYSE:GD) Shares Purchased by Independence Bank of Kentucky

Independence Bank of Kentucky raised its position in General Dynamics Co. (NYSE:GD) by 12.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,465 shares of the aerospace company’s stock after purchasing an additional 815 shares during the quarter. Independence Bank of Kentucky’s holdings in General Dynamics were worth $1,606,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in shares of General Dynamics by 0.3% during the 4th quarter. Wells Fargo & Company MN now owns 6,318,574 shares of the aerospace company’s stock worth $1,567,701,000 after buying an additional 20,225 shares in the last quarter. Geode Capital Management LLC raised its holdings in General Dynamics by 6.5% during the first quarter. Geode Capital Management LLC now owns 4,228,831 shares of the aerospace company’s stock worth $962,711,000 after purchasing an additional 259,855 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in General Dynamics by 325.6% in the first quarter. Envestnet Asset Management Inc. now owns 2,857,786 shares of the aerospace company’s stock worth $155,968,000 after purchasing an additional 2,186,369 shares during the period. Sanders Capital LLC bought a new stake in shares of General Dynamics in the 1st quarter worth $630,466,000. Finally, Morgan Stanley boosted its stake in General Dynamics by 12.1% during the fourth quarter. Morgan Stanley now owns 2,622,031 shares of the aerospace company’s stock valued at $650,552,000 after buying an additional 282,436 shares in the last quarter. Institutional investors own 86.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on GD shares. StockNews.com initiated coverage on shares of General Dynamics in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Morgan Stanley increased their price objective on General Dynamics from $248.00 to $250.00 in a research report on Thursday, July 27th. Finally, Wells Fargo & Company lifted their target price on General Dynamics from $244.00 to $258.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $262.38.

Insiders Place Their Bets

In related news, CEO Phebe N. Novakovic sold 33,230 shares of General Dynamics stock in a transaction on Friday, August 11th. The shares were sold at an average price of $227.96, for a total value of $7,575,110.80. Following the completion of the sale, the chief executive officer now owns 778,092 shares of the company’s stock, valued at approximately $177,373,852.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Marguerite Amy Gilliland sold 13,500 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $225.46, for a total value of $3,043,710.00. Following the completion of the sale, the senior vice president now directly owns 44,157 shares in the company, valued at $9,955,637.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Phebe N. Novakovic sold 33,230 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $227.96, for a total transaction of $7,575,110.80. Following the completion of the transaction, the chief executive officer now owns 778,092 shares in the company, valued at $177,373,852.32. The disclosure for this sale can be found here. Insiders sold 53,230 shares of company stock valued at $12,086,716 over the last ninety days. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Stock Up 0.8 %

General Dynamics stock opened at $221.46 on Friday. The firm’s 50 day moving average price is $221.43 and its two-hundred day moving average price is $219.29. The firm has a market cap of $60.47 billion, a PE ratio of 18.18, a P/E/G ratio of 1.95 and a beta of 0.84. General Dynamics Co. has a twelve month low of $202.35 and a twelve month high of $256.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.90 and a current ratio of 1.39.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.11. General Dynamics had a return on equity of 18.01% and a net margin of 8.24%. The business had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.45 billion. During the same period last year, the company earned $2.75 earnings per share. General Dynamics’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, research analysts predict that General Dynamics Co. will post 12.64 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Thursday, October 5th. General Dynamics’s dividend payout ratio (DPR) is presently 43.35%.

General Dynamics 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.