AMG National Trust Bank Acquires 79 Shares of General Dynamics Corporation (NYSE:GD)

AMG National Trust Bank raised its holdings in shares of General Dynamics Corporation (NYSE:GD) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,025 shares of the aerospace company’s stock after purchasing an additional 79 shares during the quarter. AMG National Trust Bank’s holdings in General Dynamics were worth $825,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of GD. Rialto Wealth Management LLC lifted its holdings in shares of General Dynamics by 213.8% in the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 62 shares during the last quarter. Inlight Wealth Management LLC bought a new stake in shares of General Dynamics in the 1st quarter worth about $26,000. Copia Wealth Management bought a new stake in shares of General Dynamics in the 4th quarter worth about $27,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of General Dynamics in the 1st quarter worth about $27,000. Finally, Hoey Investments Inc. bought a new stake in shares of General Dynamics in the 4th quarter worth about $28,000. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Down 0.3%

GD stock opened at $299.22 on Monday. The firm has a 50 day moving average of $284.47 and a 200 day moving average of $270.65. The stock has a market capitalization of $80.31 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 1.99 and a beta of 0.46. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.33. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $316.90.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.23. The company had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.92 billion. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. General Dynamics’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period last year, the business earned $2.88 EPS. Sell-side analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.01%. The ex-dividend date is Thursday, July 3rd. General Dynamics’s payout ratio is 41.61%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GD. Citigroup reiterated a “buy” rating and set a $348.00 price objective (up previously from $330.00) on shares of General Dynamics in a report on Monday, July 14th. Wells Fargo & Company decreased their price objective on shares of General Dynamics from $261.00 to $236.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. TD Cowen lifted their price objective on shares of General Dynamics from $290.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, June 25th. Sanford C. Bernstein set a $314.00 price objective on shares of General Dynamics and gave the company a “market perform” rating in a report on Monday, July 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $298.00 to $342.00 in a report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $294.53.

Insider Buying and Selling

In other General Dynamics news, CEO Phebe N. Novakovic sold 7,639 shares of General Dynamics stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $280.44, for a total transaction of $2,142,281.16. Following the completion of the sale, the chief executive officer directly owned 769,607 shares in the company, valued at approximately $215,828,587.08. The trade was a 0.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.50% of the company’s stock.

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.