Heartland Bank & Trust Co Decreases Stock Position in General Dynamics Co. (NYSE:GD)

Heartland Bank & Trust Co cut its holdings in General Dynamics Co. (NYSE:GDFree Report) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,580 shares of the aerospace company’s stock after selling 146 shares during the quarter. Heartland Bank & Trust Co’s holdings in General Dynamics were worth $670,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Venturi Wealth Management LLC raised its stake in General Dynamics by 15.7% in the fourth quarter. Venturi Wealth Management LLC now owns 1,868 shares of the aerospace company’s stock valued at $485,000 after buying an additional 253 shares during the last quarter. Integrated Investment Consultants LLC acquired a new position in shares of General Dynamics in the fourth quarter valued at about $209,000. Webster Bank N. A. increased its holdings in shares of General Dynamics by 1.3% in the fourth quarter. Webster Bank N. A. now owns 14,623 shares of the aerospace company’s stock valued at $3,797,000 after purchasing an additional 181 shares during the period. Colonial River Wealth Management LLC acquired a new position in shares of General Dynamics in the fourth quarter valued at about $273,000. Finally, LMG Wealth Partners LLC acquired a new position in shares of General Dynamics in the fourth quarter valued at about $223,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GD. Alembic Global Advisors lowered General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price objective on the stock. in a report on Monday, January 29th. Citigroup raised their target price on General Dynamics from $283.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. StockNews.com lowered General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 3rd. UBS Group raised their target price on General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Finally, Royal Bank of Canada raised their target price on General Dynamics from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and an average target price of $273.62.

Check Out Our Latest Stock Report on General Dynamics

General Dynamics Trading Down 0.4 %

General Dynamics stock traded down $1.19 during trading on Wednesday, reaching $289.35. 218,070 shares of the company were exchanged, compared to its average volume of 1,065,217. General Dynamics Co. has a 52-week low of $202.35 and a 52-week high of $292.50. The company has a market capitalization of $79.39 billion, a P/E ratio of 24.17, a PEG ratio of 1.85 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.92. The stock’s 50 day simple moving average is $273.24 and its two-hundred day simple moving average is $253.86.

General Dynamics (NYSE:GDGet Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $3.64 EPS for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.04). General Dynamics had a return on equity of 16.61% and a net margin of 7.84%. The company had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.39 billion. During the same quarter in the previous year, the business posted $3.58 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts expect that General Dynamics Co. will post 14.59 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be paid a dividend of $1.42 per share. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date is Thursday, April 11th. This represents a $5.68 annualized dividend and a yield of 1.96%. General Dynamics’s dividend payout ratio (DPR) is 43.93%.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the completion of the sale, the chief executive officer now owns 773,977 shares of the company’s stock, valued at $204,569,860.87. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Mark C. Roualet sold 73,330 shares of General Dynamics stock in a transaction on Friday, January 26th. The stock was sold at an average price of $264.75, for a total value of $19,414,117.50. Following the completion of the sale, the executive vice president now directly owns 149,205 shares of the company’s stock, valued at $39,502,023.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Phebe N. Novakovic sold 32,355 shares of General Dynamics stock in a transaction on Monday, January 29th. The shares were sold at an average price of $264.31, for a total value of $8,551,750.05. Following the completion of the sale, the chief executive officer now directly owns 773,977 shares of the company’s stock, valued at $204,569,860.87. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

General Dynamics Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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