Somerset Trust Co Boosts Stake in General Dynamics Co. (NYSE:GD)

Somerset Trust Co increased its position in shares of General Dynamics Co. (NYSE:GD) by 2.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,502 shares of the aerospace company’s stock after buying an additional 354 shares during the quarter. General Dynamics comprises 1.4% of Somerset Trust Co’s investment portfolio, making the stock its 26th biggest holding. Somerset Trust Co’s holdings in General Dynamics were worth $3,821,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC grew its position in shares of General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 58 shares during the last quarter. Hara Capital LLC purchased a new stake in General Dynamics in the 3rd quarter valued at $26,000. Lowe Wealth Advisors LLC acquired a new stake in General Dynamics during the 3rd quarter worth $30,000. True Wealth Design LLC purchased a new position in General Dynamics during the 3rd quarter worth $34,000. Finally, Coston McIsaac & Partners increased its stake in General Dynamics by 22.8% in the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Price Performance

General Dynamics stock opened at $266.86 on Friday. The firm has a market capitalization of $73.38 billion, a PE ratio of 20.32, a P/E/G ratio of 1.38 and a beta of 0.61. General Dynamics Co. has a 52 week low of $247.36 and a 52 week high of $316.90. The firm’s 50-day simple moving average is $273.71 and its 200 day simple moving average is $288.32. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same quarter in the prior year, the company earned $3.04 earnings per share. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities research analysts predict that General Dynamics Co. will post 13.81 EPS for the current fiscal year.

General Dynamics declared that its board has authorized a stock buyback program on Wednesday, December 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to purchase 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s payout ratio is currently 43.26%.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the transaction, the vice president now owns 20,296 shares of the company’s stock, valued at $5,701,349.36. This represents a 21.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.52% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GD. Robert W. Baird reissued a “neutral” rating and set a $283.00 price target (down previously from $345.00) on shares of General Dynamics in a report on Tuesday. The Goldman Sachs Group lowered shares of General Dynamics from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $283.00 to $245.00 in a research report on Thursday, December 12th. Vertical Research cut shares of General Dynamics from a “buy” rating to a “hold” rating and reduced their target price for the stock from $352.00 to $290.00 in a research note on Monday, January 6th. Royal Bank of Canada lowered shares of General Dynamics from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $330.00 to $290.00 in a research note on Thursday, December 19th. Finally, Barclays reduced their price objective on shares of General Dynamics from $330.00 to $305.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $304.53.

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.