Park National Corp OH Reduces Stock Position in General Dynamics Co. (NYSE:GD)


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Park National Corp OH cut its stake in General Dynamics Co. (NYSE:GD) by 15.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 35,203 shares of the aerospace company’s stock after selling 6,646 shares during the quarter. Park National Corp OH’s holdings in General Dynamics were worth $6,391,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GD. Patriot Investment Management Inc. increased its stake in shares of General Dynamics by 3.1% during the 4th quarter. Patriot Investment Management Inc. now owns 2,087 shares of the aerospace company’s stock worth $310,000 after purchasing an additional 62 shares in the last quarter. Sage Capital Advisors llc increased its stake in shares of General Dynamics by 0.3% during the 4th quarter. Sage Capital Advisors llc now owns 19,530 shares of the aerospace company’s stock worth $3,077,000 after purchasing an additional 67 shares in the last quarter. Manchester Financial Inc. increased its stake in shares of General Dynamics by 10.5% during the 4th quarter. Manchester Financial Inc. now owns 738 shares of the aerospace company’s stock worth $110,000 after purchasing an additional 70 shares in the last quarter. Sigma Planning Corp increased its stake in shares of General Dynamics by 2.3% during the 4th quarter. Sigma Planning Corp now owns 3,086 shares of the aerospace company’s stock worth $459,000 after purchasing an additional 70 shares in the last quarter. Finally, Rockbridge Investment Management LCC increased its stake in shares of General Dynamics by 24.2% during the 4th quarter. Rockbridge Investment Management LCC now owns 359 shares of the aerospace company’s stock worth $53,000 after purchasing an additional 70 shares in the last quarter. 84.48% of the stock is owned by institutional investors.

Shares of GD opened at $182.72 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.29 and a debt-to-equity ratio of 0.68. The firm has a market cap of $51.81 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 2.40 and a beta of 1.03. The company’s fifty day moving average is $173.49 and its two-hundred day moving average is $154.39. General Dynamics Co. has a fifty-two week low of $121.67 and a fifty-two week high of $186.00.

General Dynamics (NYSE:GD) last posted its earnings results on Tuesday, January 26th. The aerospace company reported $3.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.54 by ($0.05). The business had revenue of $10.48 billion for the quarter, compared to analyst estimates of $10.76 billion. General Dynamics had a net margin of 8.33% and a return on equity of 23.00%. The business’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.51 EPS. As a group, equities research analysts anticipate that General Dynamics Co. will post 11.06 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 7th. Investors of record on Friday, April 9th will be issued a dividend of $1.19 per share. This is a positive change from General Dynamics’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $4.76 annualized dividend and a dividend yield of 2.61%. General Dynamics’s payout ratio is presently 36.73%.

A number of research analysts have recently weighed in on GD shares. Morgan Stanley dropped their price objective on shares of General Dynamics from $161.00 to $149.00 and set an “underweight” rating for the company in a research note on Monday, February 8th. Susquehanna Bancshares lifted their target price on shares of General Dynamics from $162.00 to $180.00 and gave the stock a “positive” rating in a research note on Friday, January 29th. TheStreet raised shares of General Dynamics from a “c+” rating to a “b-” rating in a research note on Thursday, December 17th. Barclays reaffirmed a “buy” rating on shares of General Dynamics in a research note on Friday, April 2nd. Finally, Cowen lifted their target price on shares of General Dynamics from $183.00 to $210.00 and gave the stock an “outperform” rating in a research note on Monday, March 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $169.06.

General Dynamics Profile

General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It operates through the following segments: Aerospace, Combat Systems, Information Technology, and Marine Systems.

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

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