OLD National Bancorp IN Decreases Position in General Dynamics Co. (NYSE:GD)

OLD National Bancorp IN lessened its holdings in shares of General Dynamics Co. (NYSE:GD) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,266 shares of the aerospace company’s stock after selling 168 shares during the period. OLD National Bancorp IN’s holdings in General Dynamics were worth $2,146,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GD. PSI Advisors LLC raised its stake in General Dynamics by 50.0% in the 4th quarter. PSI Advisors LLC now owns 240 shares of the aerospace company’s stock worth $62,000 after acquiring an additional 80 shares during the last quarter. Cetera Trust Company N.A purchased a new position in General Dynamics in the 4th quarter worth $48,000. Criterion Capital Advisors LLC purchased a new position in General Dynamics in the 4th quarter worth $49,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in General Dynamics by 2.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,545 shares of the aerospace company’s stock worth $5,595,000 after acquiring an additional 485 shares during the last quarter. Finally, Signaturefd LLC raised its stake in General Dynamics by 10.1% in the 4th quarter. Signaturefd LLC now owns 4,560 shares of the aerospace company’s stock worth $1,184,000 after acquiring an additional 417 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on GD shares. Susquehanna raised their target price on General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research note on Friday, April 12th. Alembic Global Advisors lowered General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price objective for the company. in a research note on Monday, January 29th. StockNews.com lowered General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 3rd. Citigroup lifted their price objective on General Dynamics from $283.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Royal Bank of Canada lifted their price objective on General Dynamics from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $283.80.

General Dynamics Trading Up 0.9 %

GD stock opened at $291.31 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 0.92 and a debt-to-equity ratio of 0.41. General Dynamics Co. has a 12-month low of $202.35 and a 12-month high of $296.50. The stock has a market cap of $79.93 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 1.83 and a beta of 0.68. The business’s 50-day moving average is $279.51 and its 200 day moving average is $260.57.

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

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be issued a dividend of $1.42 per share. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Thursday, April 11th. General Dynamics’s payout ratio is currently 47.25%.

Insider Transactions at General Dynamics

In other news, CEO Phebe N. Novakovic sold 32,355 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the transaction, the chief executive officer now directly owns 773,977 shares in the company, valued at approximately $204,569,860.87. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Phebe N. Novakovic sold 32,355 shares of General Dynamics stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the sale, the chief executive officer now owns 773,977 shares of the company’s stock, valued at approximately $204,569,860.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark C. Roualet sold 73,330 shares of General Dynamics stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the sale, the executive vice president now directly owns 149,205 shares in the company, valued at approximately $39,502,023.75. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

General Dynamics Company 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.