Glenview Trust co Grows Holdings in General Dynamics Co. (NYSE:GD)

Glenview Trust co boosted its stake in General Dynamics Co. (NYSE:GD - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,228 shares of the aerospace company's stock after purchasing an additional 993 shares during the quarter. Glenview Trust co's holdings in General Dynamics were worth $2,958,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Patten & Patten Inc. TN raised its holdings in shares of General Dynamics by 13.3% during the 4th quarter. Patten & Patten Inc. TN now owns 2,073 shares of the aerospace company's stock worth $546,000 after buying an additional 243 shares in the last quarter. Harbour Investments Inc. raised its stake in General Dynamics by 5.0% during the fourth quarter. Harbour Investments Inc. now owns 3,421 shares of the aerospace company's stock worth $901,000 after acquiring an additional 163 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of General Dynamics by 5.3% in the fourth quarter. Corient Private Wealth LLC now owns 114,661 shares of the aerospace company's stock worth $29,883,000 after acquiring an additional 5,765 shares during the last quarter. one8zero8 LLC bought a new stake in shares of General Dynamics during the 4th quarter valued at approximately $751,000. Finally, Greykasell Wealth Strategies Inc. acquired a new position in General Dynamics during the 4th quarter worth approximately $522,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on GD. Robert W. Baird reaffirmed a "neutral" rating and set a $283.00 target price (down previously from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. Citigroup dropped their target price on General Dynamics from $360.00 to $335.00 and set a "buy" rating for the company in a research report on Monday, February 10th. Jefferies Financial Group restated a "hold" rating and set a $300.00 price target (down from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Vertical Research lowered shares of General Dynamics from a "buy" rating to a "hold" rating and dropped their price objective for the company from $352.00 to $290.00 in a report on Monday, January 6th. Finally, Royal Bank of Canada decreased 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. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $297.71.

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Insider Buying and Selling at General Dynamics

In other news, Director Laura J. Schumacher sold 1,796 shares of General Dynamics 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 completion of the transaction, the director now directly owns 11,175 shares in the company, valued at $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the sale, the senior vice president now directly owns 45,192 shares of the company's stock, valued at approximately $12,297,195.12. The trade was a 37.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.52% of the company's stock.

General Dynamics Trading Down 0.9 %

Shares of GD stock traded down $2.41 during trading hours on Thursday, hitting $265.56. 1,251,450 shares of the company were exchanged, compared to its average volume of 1,240,063. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. General Dynamics Co. has a fifty-two week low of $239.87 and a fifty-two week high of $316.90. The company has a 50 day simple moving average of $258.34 and a two-hundred day simple moving average of $278.25. The firm has a market cap of $71.80 billion, a P/E ratio of 19.47, a P/E/G ratio of 1.69 and a beta of 0.59.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. Equities analysts anticipate that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Increases Dividend

The company 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 $1.50 dividend. The ex-dividend date is Friday, April 11th. This represents a $6.00 annualized dividend and a yield of 2.26%. This is a positive change from General Dynamics's previous quarterly dividend of $1.42. General Dynamics's dividend payout ratio is presently 43.99%.

General Dynamics announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

General Dynamics Company 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.