Cadence Bank Cuts Stock Position in General Dynamics Co. (NYSE:GD)

Cadence Bank decreased its stake in shares of General Dynamics Co. (NYSE:GD) by 0.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 35,965 shares of the aerospace company’s stock after selling 107 shares during the quarter. Cadence Bank’s holdings in General Dynamics were worth $9,476,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Barclays PLC grew its position in General Dynamics by 43.1% during the 3rd quarter. Barclays PLC now owns 942,485 shares of the aerospace company’s stock valued at $284,818,000 after purchasing an additional 283,972 shares during the last quarter. Tudor Financial Inc. bought a new position in shares of General Dynamics in the third quarter worth approximately $393,000. Pine Valley Investments Ltd Liability Co grew its holdings in shares of General Dynamics by 4.0% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 9,078 shares of the aerospace company’s stock valued at $2,743,000 after buying an additional 352 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of General Dynamics during the third quarter valued at approximately $3,892,000. Finally, Arvest Bank Trust Division bought a new stake in shares of General Dynamics during the third quarter valued at approximately $20,667,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Price Performance

NYSE GD opened at $275.70 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 business’s fifty day moving average is $261.16 and its 200 day moving average is $273.30. The company has a market capitalization of $73.99 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.69 and a beta of 0.43. General Dynamics Co. has a fifty-two week low of $239.20 and a fifty-two week high of $316.90.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. Sell-side analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, April 11th. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 dividend on an annualized basis and a yield of 2.18%. General Dynamics’s dividend payout ratio (DPR) is currently 43.99%.

Analyst Ratings Changes

Several analysts have commented on the company. TD Cowen cut their target price on General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. Morgan Stanley downgraded General Dynamics from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $315.00 to $305.00 in a report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. The Goldman Sachs Group reduced their price target on shares of General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a research note on Tuesday, January 28th. Finally, UBS Group lowered their price objective on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, General Dynamics has a consensus rating of “Hold” and an average price target of $294.47.

Insider Transactions at General Dynamics

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics 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 directly owns 45,192 shares in the company, valued at approximately $12,297,195.12. The trade was a 37.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the transaction, the director now directly owns 11,175 shares of the company’s stock, valued at $2,857,224. This trade represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.

General Dynamics 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.