Bath Savings Trust Co Sells 310 Shares of General Dynamics Co. (NYSE:GD)

Bath Savings Trust Co lessened its stake in shares of General Dynamics Co. (NYSE:GD) by 2.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,722 shares of the aerospace company’s stock after selling 310 shares during the period. Bath Savings Trust Co’s holdings in General Dynamics were worth $3,468,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Exeter Financial LLC increased its stake in General Dynamics by 1.7% during the 1st quarter. Exeter Financial LLC now owns 17,803 shares of the aerospace company’s stock worth $4,853,000 after acquiring an additional 297 shares during the period. Quent Capital LLC increased its stake in General Dynamics by 64.0% during the 1st quarter. Quent Capital LLC now owns 374 shares of the aerospace company’s stock worth $102,000 after acquiring an additional 146 shares during the period. Versant Capital Management Inc increased its stake in General Dynamics by 554.9% during the 1st quarter. Versant Capital Management Inc now owns 1,670 shares of the aerospace company’s stock worth $455,000 after acquiring an additional 1,415 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in General Dynamics by 145.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 29,799 shares of the aerospace company’s stock worth $8,123,000 after acquiring an additional 17,683 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in General Dynamics by 35.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 209,893 shares of the aerospace company’s stock worth $55,305,000 after acquiring an additional 54,996 shares during the period. Institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling

In other news, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the transaction, the senior vice president now directly owns 45,192 shares of the company’s stock, valued at approximately $12,297,195.12. This trade represents a 37.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.50% of the stock is owned by corporate insiders.

General Dynamics Stock Up 0.6%

Shares of NYSE:GD opened at $275.27 on Friday. The firm has a market cap of $73.88 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.69 and a beta of 0.49. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 12-month low of $239.20 and a 12-month high of $316.90. The business has a fifty day simple moving average of $272.02 and a 200 day simple moving average of $267.52.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.23. The business had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.92 billion. General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. General Dynamics’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the company earned $2.88 EPS. Analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 11th were given a dividend of $1.50 per share. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 annualized dividend and a yield of 2.18%. The ex-dividend date was Friday, April 11th. General Dynamics’s dividend payout ratio (DPR) is currently 41.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Citigroup reduced their target price on General Dynamics from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Cowen reaffirmed a “buy” rating on shares of General Dynamics in a report on Thursday, April 24th. UBS Group raised their target price on General Dynamics from $268.00 to $279.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. Susquehanna raised their target price on General Dynamics from $300.00 to $315.00 and gave the company a “positive” rating in a report on Wednesday, April 2nd. Finally, BTIG Research downgraded General Dynamics from a “buy” rating to a “neutral” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, General Dynamics presently has a consensus rating of “Hold” and an average price target of $293.00.

About General Dynamics

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.