Bangor Savings Bank Sells 80 Shares of General Dynamics Co. (NYSE:GD)

Bangor Savings Bank lessened its position in General Dynamics Co. (NYSE:GD) by 1.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,331 shares of the aerospace company’s stock after selling 80 shares during the period. Bangor Savings Bank’s holdings in General Dynamics were worth $1,453,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GD. Rialto Wealth Management LLC lifted its stake in shares of General Dynamics by 213.8% in the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company’s stock worth $25,000 after buying an additional 62 shares in the last quarter. Whipplewood Advisors LLC bought a new position in shares of General Dynamics in the fourth quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of General Dynamics in the fourth quarter worth approximately $26,000. Copia Wealth Management bought a new position in shares of General Dynamics in the fourth quarter worth approximately $27,000. Finally, Hoey Investments Inc. bought a new position in shares of General Dynamics in the fourth quarter worth approximately $28,000. Institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

GD has been the subject of several research reports. Cowen reissued a “buy” rating on shares of General Dynamics in a report on Thursday, April 24th. Citigroup decreased their price objective on shares of General Dynamics from $335.00 to $330.00 and set a “buy” rating for the company in a report on Thursday, April 10th. William Blair cut shares of General Dynamics from an “outperform” rating to a “market perform” rating in a report on Friday, February 21st. Morgan Stanley decreased their price objective on shares of General Dynamics from $305.00 to $300.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Finally, TD Securities boosted their price objective on shares of General Dynamics from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $293.00.

General Dynamics Price Performance

Shares of NYSE:GD opened at $276.43 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The firm has a fifty day moving average price of $272.69 and a 200 day moving average price of $266.62. General Dynamics Co. has a fifty-two week low of $239.20 and a fifty-two week high of $316.90. The firm has a market cap of $74.19 billion, a price-to-earnings ratio of 20.27, a P/E/G ratio of 1.69 and a beta of 0.46.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.23. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.92 billion. During the same period last year, the company posted $2.88 EPS. The business’s revenue was up 13.9% on a year-over-year basis. As a group, sell-side analysts expect that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be issued a $1.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 annualized dividend and a dividend yield of 2.17%. General Dynamics’s dividend payout ratio (DPR) is presently 41.61%.

Insider Transactions at General Dynamics

In other news, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the sale, the senior vice president now owns 45,192 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.50% of the company’s stock.

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.