General Dynamics Co. (GD) Holdings Cut by Somerset Trust Co

Somerset Trust Co reduced its stake in shares of General Dynamics Co. (NYSE:GD) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,304 shares of the aerospace company’s stock after selling 392 shares during the quarter. General Dynamics accounts for 1.3% of Somerset Trust Co’s portfolio, making the stock its 20th largest position. Somerset Trust Co’s holdings in General Dynamics were worth $2,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. WFG Advisors LP increased its stake in shares of General Dynamics by 0.3% in the second quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock valued at $132,000 after buying an additional 2 shares in the last quarter. YorkBridge Wealth Partners LLC increased its stake in shares of General Dynamics by 0.5% in the second quarter. YorkBridge Wealth Partners LLC now owns 992 shares of the aerospace company’s stock valued at $198,000 after buying an additional 5 shares in the last quarter. Pathstone Family Office LLC increased its stake in shares of General Dynamics by 100.0% in the second quarter. Pathstone Family Office LLC now owns 24 shares of the aerospace company’s stock valued at $4,754,000 after buying an additional 12 shares in the last quarter. Comerica Securities Inc. increased its stake in shares of General Dynamics by 0.6% in the second quarter. Comerica Securities Inc. now owns 2,350 shares of the aerospace company’s stock valued at $465,000 after buying an additional 15 shares in the last quarter. Finally, Bahl & Gaynor Inc. increased its stake in shares of General Dynamics by 0.4% in the second quarter. Bahl & Gaynor Inc. now owns 4,413 shares of the aerospace company’s stock valued at $762,000 after buying an additional 17 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded General Dynamics from a “hold” rating to a “buy” rating and set a $230.00 price target on the stock in a report on Monday, October 2nd. Deutsche Bank reiterated a “hold” rating and issued a $210.00 price target (up previously from $200.00) on shares of General Dynamics in a report on Monday, October 2nd. ValuEngine cut General Dynamics from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Citigroup reiterated a “neutral” rating and issued a $215.00 price target (up previously from $210.00) on shares of General Dynamics in a report on Monday, October 9th. Finally, Cowen reiterated a “buy” rating and issued a $230.00 price target on shares of General Dynamics in a report on Thursday, October 19th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. General Dynamics has a consensus rating of “Hold” and a consensus target price of $218.92.

Shares of General Dynamics Co. (NYSE:GD) traded down $4.26 on Wednesday, reaching $206.33. The company’s stock had a trading volume of 1,753,600 shares, compared to its average volume of 1,466,080. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.93 and a current ratio of 1.37. General Dynamics Co. has a 12-month low of $172.43 and a 12-month high of $214.81. The company has a market capitalization of $62,200.00, a PE ratio of 20.49, a P/E/G ratio of 2.27 and a beta of 0.72.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.43 by $0.09. General Dynamics had a return on equity of 27.98% and a net margin of 9.94%. The firm had revenue of $7.58 billion for the quarter, compared to analysts’ expectations of $7.94 billion. During the same quarter last year, the business earned $2.36 earnings per share. The company’s revenue was down 1.0% compared to the same quarter last year. equities analysts expect that General Dynamics Co. will post 9.8 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 19th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Thursday, January 18th. General Dynamics’s dividend payout ratio (DPR) is currently 33.37%.

In other news, VP Gregory S. Gallopoulos sold 78,370 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $202.93, for a total transaction of $15,903,624.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Patrick Casey sold 34,945 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $201.38, for a total value of $7,037,224.10. Following the sale, the insider now directly owns 144,378 shares in the company, valued at approximately $29,074,841.64. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by company insiders.

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About General Dynamics

General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.

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

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