Heartland Bank & Trust Co Sells 56 Shares of General Dynamics Co. (NYSE:GD)

Heartland Bank & Trust Co decreased its position in General Dynamics Co. (NYSE:GD) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,529 shares of the aerospace company’s stock after selling 56 shares during the quarter. Heartland Bank & Trust Co’s holdings in General Dynamics were worth $764,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GD. Global X Japan Co. Ltd. boosted its holdings in shares of General Dynamics by 2.3% during the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock valued at $448,000 after acquiring an additional 33 shares in the last quarter. Coston McIsaac & Partners grew its position in shares of General Dynamics by 22.8% during the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after buying an additional 33 shares during the period. Grove Bank & Trust lifted its holdings in shares of General Dynamics by 10.6% in the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after purchasing an additional 34 shares in the last quarter. Modera Wealth Management LLC increased its stake in General Dynamics by 0.4% during the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after purchasing an additional 35 shares in the last quarter. Finally, Rathbones Group PLC lifted its stake in shares of General Dynamics by 1.8% in the second quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock valued at $587,000 after buying an additional 35 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GD has been the topic of a number of analyst reports. Seaport Res Ptn lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Wells Fargo & Company downgraded General Dynamics from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $334.00 to $317.00 in a report on Tuesday, October 1st. Robert W. Baird restated an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. Citigroup increased their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a research note on Thursday, July 25th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $320.18.

General Dynamics Stock Down 0.5 %

GD opened at $304.40 on Thursday. General Dynamics Co. has a 1-year low of $232.29 and a 1-year high of $313.11. The firm’s 50 day simple moving average is $300.17 and its two-hundred day simple moving average is $294.55. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $83.52 billion, a PE ratio of 24.83, a PEG ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. During the same period in the prior year, the company posted $2.70 earnings per share. The company’s revenue was up 18.0% compared to the same quarter last year. As a group, equities analysts forecast that General Dynamics Co. will post 14.38 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is currently 46.33%.

Insider Activity at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.52% of the stock is owned by corporate insiders.

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.