Legacy Private Trust Co. Has $547,000 Stock Position in General Dynamics Co. (NYSE:GD)

Legacy Private Trust Co. increased its position in General Dynamics Co. (NYSE:GD) by 5.2% in the second quarter, HoldingsChannel reports. The firm owned 2,544 shares of the aerospace company’s stock after acquiring an additional 125 shares during the period. Legacy Private Trust Co.’s holdings in General Dynamics were worth $547,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GD. Founders Capital Management boosted its position in General Dynamics by 200.0% during the 2nd quarter. Founders Capital Management now owns 300 shares of the aerospace company’s stock worth $65,000 after acquiring an additional 200 shares during the period. Indiana Trust & Investment Management CO boosted its stake in shares of General Dynamics by 16.6% during the 2nd quarter. Indiana Trust & Investment Management CO now owns 5,605 shares of the aerospace company’s stock valued at $1,206,000 after buying an additional 796 shares during the period. Fulcrum Equity Management boosted its stake in shares of General Dynamics by 62.3% during the 2nd quarter. Fulcrum Equity Management now owns 1,485 shares of the aerospace company’s stock valued at $320,000 after buying an additional 570 shares during the period. Independence Bank of Kentucky lifted its holdings in shares of General Dynamics by 12.3% during the 2nd quarter. Independence Bank of Kentucky now owns 7,465 shares of the aerospace company’s stock valued at $1,606,000 after buying an additional 815 shares during the last quarter. Finally, Abacus Planning Group Inc. lifted its holdings in shares of General Dynamics by 12.7% during the 2nd quarter. Abacus Planning Group Inc. now owns 1,327 shares of the aerospace company’s stock valued at $286,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 86.08% of the company’s stock.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 33,230 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 778,092 shares of the company’s stock, valued at $177,373,852.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Phebe N. Novakovic sold 33,230 shares of the business’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $227.96, for a total transaction of $7,575,110.80. Following the completion of the sale, the chief executive officer now owns 778,092 shares in the company, valued at $177,373,852.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Marguerite Amy Gilliland sold 13,500 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $225.46, for a total transaction of $3,043,710.00. Following the sale, the senior vice president now directly owns 44,157 shares of the company’s stock, valued at $9,955,637.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,230 shares of company stock worth $12,086,716. 1.52% of the stock is currently owned by insiders.

General Dynamics Price Performance

General Dynamics stock opened at $224.05 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.39 and a quick ratio of 0.90. The company has a market capitalization of $61.17 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84. General Dynamics Co. has a one year low of $202.35 and a one year high of $256.86. The business has a 50 day simple moving average of $221.57 and a 200 day simple moving average of $219.30.

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

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be given a $1.32 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $5.28 annualized dividend and a yield of 2.36%. General Dynamics’s payout ratio is 43.35%.

Analysts Set New Price Targets

GD has been the subject of several research reports. Wells Fargo & Company lifted their price target on General Dynamics from $244.00 to $258.00 and gave the company an “overweight” rating in a report on Friday, July 28th. Morgan Stanley increased their target price on shares of General Dynamics from $248.00 to $250.00 in a research report on Thursday, July 27th. Finally, StockNews.com started coverage on General Dynamics in a research note on Thursday, August 17th. They set a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, General Dynamics has an average rating of “Moderate Buy” and an average price target of $262.38.

About General Dynamics

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.