Fiduciary Trust Co Sells 161 Shares of General Dynamics Co. (NYSE:GD)

Fiduciary Trust Co trimmed its holdings in General Dynamics Co. (NYSE:GD) by 0.6% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 27,571 shares of the aerospace company’s stock after selling 161 shares during the quarter. Fiduciary Trust Co’s holdings in General Dynamics were worth $7,265,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Financial Life Planners bought a new stake in shares of General Dynamics in the fourth quarter worth approximately $25,000. Whipplewood Advisors LLC bought a new stake in General Dynamics in the 4th quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in General Dynamics during the 4th quarter valued at $26,000. Sugar Maple Asset Management LLC purchased a new stake in General Dynamics during the 4th quarter valued at $28,000. Finally, Heck Capital Advisors LLC bought a new position in shares of General Dynamics during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of the business’s stock in a transaction on 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 sale, the senior vice president now owns 45,192 shares in the company, valued at approximately $12,297,195.12. The trade was a 37.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GD has been the subject of a number of research reports. The Goldman Sachs Group reduced their price objective on General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a research report on Tuesday, January 28th. Royal Bank of Canada reduced their price target on shares of General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a research report on Thursday, January 30th. Robert W. Baird reissued a “neutral” rating and issued a $283.00 price objective (down previously from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. Wells Fargo & Company reduced their target price 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. Finally, TD Securities increased their price target on shares of General Dynamics from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $293.00.

General Dynamics Trading Down 0.1 %

GD stock opened at $271.61 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. General Dynamics Co. has a 1-year low of $239.20 and a 1-year high of $316.90. The business has a 50 day simple moving average of $268.82 and a two-hundred day simple moving average of $269.96. The company has a market capitalization of $72.90 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 1.69 and a beta of 0.49.

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

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 11th were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.21%. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend was Friday, April 11th. General Dynamics’s payout ratio is 41.61%.

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.