First National Bank Sioux Falls Decreases Stake in General Dynamics Co. (NYSE:GD)

First National Bank Sioux Falls lowered its position in General Dynamics Co. (NYSE:GD) by 6.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,492 shares of the aerospace company’s stock after selling 100 shares during the period. First National Bank Sioux Falls’ holdings in General Dynamics were worth $387,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Briaud Financial Planning Inc purchased a new position in shares of General Dynamics in the 3rd quarter valued at about $27,000. Impact Partnership Wealth LLC boosted its stake in shares of General Dynamics by 411.5% in the 3rd quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company’s stock valued at $29,000 after buying an additional 107 shares during the period. Rakuten Securities Inc. purchased a new stake in General Dynamics during the fourth quarter worth approximately $38,000. Wetzel Investment Advisors Inc. purchased a new stake in General Dynamics during the fourth quarter worth approximately $38,000. Finally, Operose Advisors LLC purchased a new stake in General Dynamics during the third quarter worth approximately $40,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

GD has been the subject of a number of research reports. Alembic Global Advisors cut 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. Citigroup upped their price objective on General Dynamics from $283.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Barclays upped their target price on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, April 15th. The Goldman Sachs Group upped their price objective on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, Wells Fargo & Company upped their price objective on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $283.80.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of the firm’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 completion of the sale, the chief executive officer now 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 through the SEC website. In other General Dynamics news, EVP Mark C. Roualet sold 73,330 shares of the stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the transaction, the executive vice president now owns 149,205 shares of the company’s stock, valued at approximately $39,502,023.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Phebe N. Novakovic sold 32,355 shares of the 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 in the company, valued at approximately $204,569,860.87. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

General Dynamics Trading Up 0.5 %

NYSE:GD traded up $1.39 on Tuesday, hitting $292.70. 1,132,059 shares of the stock were exchanged, compared to its average volume of 1,066,708. The stock has a market cap of $80.31 billion, a PE ratio of 24.24, a PEG ratio of 1.83 and a beta of 0.68. The company has a current ratio of 1.44, a quick ratio of 0.92 and a debt-to-equity ratio of 0.41. The stock has a fifty day moving average of $279.51 and a 200-day moving average of $260.57. General Dynamics Co. has a fifty-two week low of $202.35 and a fifty-two week high of $296.50.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $3.64 EPS for the quarter, missing the consensus estimate of $3.68 by ($0.04). The firm 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 business’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.58 earnings per share. As a group, equities analysts expect that General Dynamics Co. will post 14.57 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Thursday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s dividend payout ratio (DPR) is 47.25%.

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.