Bank of Hawaii Cuts Stock Position in General Dynamics Corporation $GD

Bank of Hawaii cut its holdings in shares of General Dynamics Corporation (NYSE:GD) by 27.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,952 shares of the aerospace company’s stock after selling 1,861 shares during the quarter. Bank of Hawaii’s holdings in General Dynamics were worth $1,667,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. WASHINGTON TRUST Co boosted its holdings in shares of General Dynamics by 453.3% during the 3rd quarter. WASHINGTON TRUST Co now owns 9,418 shares of the aerospace company’s stock valued at $3,212,000 after purchasing an additional 7,716 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of General Dynamics by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock worth $8,338,169,000 after purchasing an additional 528,769 shares during the last quarter. Modern Wealth Management LLC lifted its position in shares of General Dynamics by 114.7% in the third quarter. Modern Wealth Management LLC now owns 6,124 shares of the aerospace company’s stock worth $2,088,000 after buying an additional 3,271 shares in the last quarter. Jain Global LLC lifted its position in shares of General Dynamics by 97.8% in the third quarter. Jain Global LLC now owns 169,305 shares of the aerospace company’s stock worth $57,733,000 after buying an additional 83,692 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in General Dynamics by 155.6% during the fourth quarter. M&T Bank Corp now owns 104,773 shares of the aerospace company’s stock valued at $35,273,000 after buying an additional 63,781 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

GD has been the topic of a number of research reports. Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $380.00 to $400.00 in a research note on Thursday, June 11th. Morgan Stanley raised their target price on shares of General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. DA Davidson reduced their price target on shares of General Dynamics from $384.00 to $375.00 in a research report on Thursday, April 30th. Citigroup decreased their price target on shares of General Dynamics from $380.00 to $364.00 and set a “neutral” rating on the stock in a research note on Monday, May 18th. Finally, BNP Paribas Exane lowered their price objective on General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $388.40.

General Dynamics Price Performance

Shares of GD opened at $350.39 on Friday. The company has a 50 day moving average of $341.10 and a two-hundred day moving average of $347.20. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. General Dynamics Corporation has a twelve month low of $275.49 and a twelve month high of $369.70. The company has a market cap of $94.76 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 2.17 and a beta of 0.34.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The business had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $12.70 billion. During the same period in the prior year, the firm posted $3.66 earnings per share. The business’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, analysts predict that General Dynamics Corporation will post 16.62 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be given a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics’s dividend payout ratio is currently 40.03%.

Insider Buying and Selling

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total value of $12,596,179.20. Following the completion of the sale, the executive vice president directly owned 38,975 shares in the company, valued at approximately $13,457,677.75. This trade represents a 48.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.40% of the company’s stock.

About General Dynamics

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.