Watch Point Trust Co boosted its position in shares of General Dynamics Co. (NYSE:GD) by 86.9% in the first quarter, Holdings Channel reports. The institutional investor owned 14,147 shares of the aerospace company’s stock after acquiring an additional 6,578 shares during the quarter. Watch Point Trust Co’s holdings in General Dynamics were worth $2,395,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of GD. Financial Gravity Companies Inc. bought a new position in General Dynamics in the 4th quarter worth $25,000. We Are One Seven LLC bought a new position in shares of General Dynamics in the 4th quarter worth about $27,000. Aspire Private Capital LLC bought a new position in shares of General Dynamics in the 4th quarter worth about $29,000. CX Institutional bought a new position in shares of General Dynamics in the 1st quarter worth about $45,000. Finally, Athena Capital Advisors LLC bought a new position in shares of General Dynamics in the 4th quarter worth about $46,000. Institutional investors own 87.27% of the company’s stock.
In other news, VP Christopher J. Brady sold 2,327 shares of the stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $171.23, for a total value of $398,452.21. Following the transaction, the vice president now owns 5,134 shares in the company, valued at approximately $879,094.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lester L. Lyles sold 4,580 shares of the stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $172.42, for a total transaction of $789,683.60. Following the completion of the transaction, the director now owns 12,314 shares in the company, valued at approximately $2,123,179.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,017 shares of company stock worth $11,451,055. Insiders own 7.10% of the company’s stock.
General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, January 30th. The aerospace company reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.98 by $0.09. The firm had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.34 billion. General Dynamics had a net margin of 9.24% and a return on equity of 28.33%. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.50 EPS. On average, equities research analysts forecast that General Dynamics Co. will post 11.72 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Thursday, April 11th. This is an increase from General Dynamics’s previous quarterly dividend of $0.93. General Dynamics’s dividend payout ratio (DPR) is presently 35.73%.
Several brokerages recently issued reports on GD. Zacks Investment Research lowered shares of General Dynamics from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Cowen reiterated a “buy” rating on shares of General Dynamics in a research note on Wednesday, March 6th. Drexel Hamilton reiterated a “buy” rating and issued a $230.00 price target on shares of General Dynamics in a research note on Monday, February 4th. ValuEngine lowered shares of General Dynamics from a “hold” rating to a “sell” rating in a research note on Saturday, February 2nd. Finally, Argus lowered shares of General Dynamics from a “buy” rating to a “hold” rating and set a $170.91 price target for the company. in a research note on Thursday, January 31st. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $204.43.
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General Dynamics Company Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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