General Dynamics Co. (NYSE:GD) Shares Sold by Indiana Trust & Investment Management Co

Indiana Trust & Investment Management Co reduced its holdings in General Dynamics Co. (NYSE:GD) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,100 shares of the aerospace company’s stock after selling 135 shares during the quarter. Indiana Trust & Investment Management Co’s holdings in General Dynamics were worth $1,541,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. bought a new stake in shares of General Dynamics during the fourth quarter valued at about $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of General Dynamics in the 1st quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. bought a new position in shares of General Dynamics in the first quarter valued at approximately $29,000. New Covenant Trust Company N.A. acquired a new position in shares of General Dynamics during the first quarter valued at approximately $29,000. Finally, American Capital Advisory LLC bought a new stake in General Dynamics during the second quarter worth approximately $29,000. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Up 1.4 %

Shares of GD traded up $4.26 during trading hours on Wednesday, hitting $304.47. 227,175 shares of the company were exchanged, compared to its average volume of 1,087,592. The firm’s 50 day moving average is $298.33 and its 200-day moving average is $293.97. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. General Dynamics Co. has a 52 week low of $232.29 and a 52 week high of $309.97. The company has a market cap of $83.54 billion, a PE ratio of 24.71, a PEG ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The firm had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.70 earnings per share. On average, equities research analysts forecast that General Dynamics Co. will post 14.38 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.87%. General Dynamics’s payout ratio is 46.33%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GD. TD Cowen raised General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Barclays upped their price target on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Citigroup lifted their target price on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, BTIG Research assumed coverage on General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and an average target price of $319.06.

Insiders Place Their Bets

In other news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.52% of the company’s stock.

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.