Independence Bank of Kentucky Sells 50 Shares of General Dynamics Co. (NYSE:GD)

Independence Bank of Kentucky decreased its position in shares of General Dynamics Co. (NYSE:GDFree Report) by 0.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,445 shares of the aerospace company’s stock after selling 50 shares during the quarter. Independence Bank of Kentucky’s holdings in General Dynamics were worth $1,933,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GD. Markel Corp grew its stake in shares of General Dynamics by 0.9% during the 1st quarter. Markel Corp now owns 390,500 shares of the aerospace company’s stock worth $94,181,000 after acquiring an additional 3,500 shares during the period. Moors & Cabot Inc. lifted its holdings in General Dynamics by 13.2% during the 1st quarter. Moors & Cabot Inc. now owns 4,202 shares of the aerospace company’s stock worth $1,014,000 after purchasing an additional 490 shares in the last quarter. Zions Bancorporation N.A. lifted its holdings in General Dynamics by 294.2% during the 1st quarter. Zions Bancorporation N.A. now owns 540 shares of the aerospace company’s stock worth $130,000 after purchasing an additional 403 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in General Dynamics by 791.6% during the 1st quarter. Brown Brothers Harriman & Co. now owns 1,275 shares of the aerospace company’s stock worth $308,000 after purchasing an additional 1,132 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in General Dynamics by 51.6% during the 1st quarter. NewEdge Advisors LLC now owns 34,153 shares of the aerospace company’s stock worth $8,237,000 after purchasing an additional 11,630 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other General Dynamics news, EVP Mark C. Roualet sold 73,330 shares of General Dynamics stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $264.75, for a total value of $19,414,117.50. Following the transaction, the executive vice president now directly owns 149,205 shares of the company’s stock, valued at approximately $39,502,023.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of General Dynamics stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $264.31, for a total value of $8,551,750.05. Following the transaction, the chief executive officer now directly owns 773,977 shares of the company’s stock, valued at approximately $204,569,860.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark C. Roualet sold 73,330 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $264.75, for a total value of $19,414,117.50. Following the transaction, the executive vice president now directly owns 149,205 shares of the company’s stock, valued at $39,502,023.75. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GD shares. Royal Bank of Canada increased their price objective on General Dynamics from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday. UBS Group increased their price objective on General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Alembic Global Advisors cut General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price target on the stock. in a report on Monday, January 29th. Citigroup lifted their price target on General Dynamics from $283.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, StockNews.com downgraded General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 3rd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $273.62.

Read Our Latest Stock Analysis on General Dynamics

General Dynamics Stock Performance

NYSE:GD opened at $291.87 on Thursday. The business has a 50 day moving average of $273.24 and a 200 day moving average of $253.86. The company has a market capitalization of $80.08 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 1.85 and a beta of 0.68. General Dynamics Co. has a 1-year low of $202.35 and a 1-year high of $292.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.92.

General Dynamics (NYSE:GDGet Free Report) last released its earnings results on Wednesday, January 24th. The aerospace company reported $3.64 earnings per share for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.04). The firm had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.39 billion. General Dynamics had a return on equity of 16.61% and a net margin of 7.84%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.58 EPS. On average, sell-side analysts predict that General Dynamics Co. will post 14.57 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be given a $1.42 dividend. This is an increase from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.95%. General Dynamics’s payout ratio is presently 43.93%.

General Dynamics 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.

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

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