AMG National Trust Bank Acquires 2,139 Shares of General Dynamics Corporation $GD

AMG National Trust Bank grew its holdings in General Dynamics Corporation (NYSE:GD) by 67.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,308 shares of the aerospace company’s stock after purchasing an additional 2,139 shares during the period. AMG National Trust Bank’s holdings in General Dynamics were worth $1,822,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. KERR FINANCIAL PLANNING Corp bought a new stake in General Dynamics during the 3rd quarter valued at about $25,000. Dagco Inc. bought a new position in General Dynamics in the 4th quarter worth about $25,000. Whipplewood Advisors LLC increased its position in shares of General Dynamics by 1,725.0% during the first quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 69 shares during the period. Burkett Financial Services LLC raised its stake in shares of General Dynamics by 650.0% during the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 65 shares in the last quarter. Finally, Steph & Co. raised its stake in shares of General Dynamics by 65.2% during the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 30 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Trading Down 0.9%

General Dynamics stock opened at $369.25 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. The stock has a market cap of $99.86 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34. The stock has a 50-day moving average of $351.50 and a two-hundred day moving average of $350.04. General Dynamics Corporation has a one year low of $293.95 and a one year high of $380.71.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share 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 analyst estimates of $12.70 billion. During the same quarter in the previous year, the firm earned $3.66 earnings per share. The company’s revenue was up 10.3% on a year-over-year basis. On average, research analysts anticipate that General Dynamics Corporation will post 16.64 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be paid a dividend of $1.59 per share. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 dividend on an annualized basis and a yield of 1.7%. General Dynamics’s dividend payout ratio is presently 40.03%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GD shares. Deutsche Bank Aktiengesellschaft dropped their price objective on General Dynamics from $387.00 to $377.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. DA Davidson lowered their target price on General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Royal Bank Of Canada reissued a “sector perform” rating and set a $385.00 price target on shares of General Dynamics in a research report on Thursday, April 30th. Jefferies Financial Group raised their price target on General Dynamics from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Finally, Morgan Stanley lifted their price objective on General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and an average target price of $391.15.

Insider Buying and Selling

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the sale, the executive vice president directly owned 38,975 shares of the company’s stock, valued at $13,457,677.75. The trade was a 48.35% 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, Director Mark Malcolm sold 5,480 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total value of $2,000,200.00. Following the completion of the transaction, the director directly owned 10,643 shares in the company, valued at approximately $3,884,695. The trade was a 33.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 78,190 shares of company stock worth $27,041,022 in the last 90 days. 1.40% of the stock is currently owned by company insiders.

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.