Sanibel Captiva Trust Company Inc. Trims Stock Holdings in General Dynamics Co. (NYSE:GD)

Sanibel Captiva Trust Company Inc. lowered its stake in General Dynamics Co. (NYSE:GD) by 1.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,444 shares of the aerospace company’s stock after selling 2,059 shares during the quarter. General Dynamics comprises 1.0% of Sanibel Captiva Trust Company Inc.’s portfolio, making the stock its 25th biggest holding. Sanibel Captiva Trust Company Inc.’s holdings in General Dynamics were worth $30,105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Rialto Wealth Management LLC raised its stake in General Dynamics by 213.8% during the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 62 shares during the period. Whipplewood Advisors LLC purchased a new stake in General Dynamics during the 4th quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of General Dynamics during the fourth quarter valued at approximately $26,000. Copia Wealth Management purchased a new position in shares of General Dynamics in the fourth quarter worth $27,000. Finally, Hoey Investments Inc. bought a new position in shares of General Dynamics during the fourth quarter worth $28,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GD has been the topic of a number of research reports. TD Securities lifted their price target 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. Susquehanna lifted their target price on General Dynamics from $300.00 to $315.00 and gave the stock a “positive” rating in a report on Wednesday, April 2nd. Morgan Stanley decreased their target price on General Dynamics from $305.00 to $300.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Citigroup cut their price target on General Dynamics from $335.00 to $330.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, William Blair cut General Dynamics from an “outperform” rating to a “market perform” rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $293.00.

General Dynamics Price Performance

GD opened at $277.35 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $74.44 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 1.69 and a beta of 0.46. The business’s fifty day simple moving average is $272.72 and its 200-day simple moving average is $266.50. General Dynamics Co. has a 12-month low of $239.20 and a 12-month high of $316.90.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.23. The firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.92 billion. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the firm earned $2.88 earnings per share. On average, equities research analysts anticipate that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Thursday, July 3rd. General Dynamics’s payout ratio is currently 41.61%.

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.