STAR Financial Bank Sells 165 Shares of General Dynamics Co. (NYSE:GD)

STAR Financial Bank lessened its stake in shares of General Dynamics Co. (NYSE:GD) by 7.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,156 shares of the aerospace company’s stock after selling 165 shares during the quarter. STAR Financial Bank’s holdings in General Dynamics were worth $609,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank bought a new stake in shares of General Dynamics during the fourth quarter worth $728,284,000. Wellington Management Group LLP raised its position in shares of General Dynamics by 12.0% during the third quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock worth $3,615,185,000 after acquiring an additional 1,755,276 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of General Dynamics by 10,763.2% during the fourth quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock worth $239,829,000 after acquiring an additional 915,091 shares during the last quarter. Verity & Verity LLC bought a new stake in shares of General Dynamics during the first quarter worth $179,000. Finally, 1832 Asset Management L.P. raised its position in shares of General Dynamics by 3,645.4% during the fourth quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock worth $145,048,000 after acquiring an additional 543,672 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Barclays lifted their price objective on General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Argus lifted their price objective on General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Robert W. Baird reissued an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. boosted their target price on General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Finally, Susquehanna boosted their target price on General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research note on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, General Dynamics currently has a consensus rating of “Moderate Buy” and a consensus target price of $305.56.

General Dynamics Price Performance

NYSE:GD traded up $2.40 during trading hours on Wednesday, reaching $281.91. 955,163 shares of the company were exchanged, compared to its average volume of 1,055,214. The business has a 50 day moving average of $293.69 and a 200 day moving average of $279.61. The company has a market capitalization of $77.35 billion, a P/E ratio of 22.99, a P/E/G ratio of 1.60 and a beta of 0.60. General Dynamics Co. has a 1-year low of $212.58 and a 1-year high of $302.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The business had revenue of $10.73 billion during the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.64 EPS. Research analysts forecast that General Dynamics Co. will post 14.56 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s dividend payout ratio is presently 46.33%.

Insider Buying and Selling at General Dynamics

In other news, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $288.51, for a total value of $3,914,215.17. Following the completion of the transaction, the vice president now directly owns 103,345 shares in the company, valued at approximately $29,816,065.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Phebe N. Novakovic sold 49,850 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of the transaction, the chief executive officer now directly owns 768,977 shares of the company’s stock, valued at approximately $218,773,956.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Gregory S. Gallopoulos sold 13,567 shares of General Dynamics stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $288.51, for a total value of $3,914,215.17. Following the transaction, the vice president now owns 103,345 shares of the company’s stock, valued at approximately $29,816,065.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 118,486 shares of company stock valued at $34,391,642. 1.60% of the stock is currently owned by corporate insiders.

About General Dynamics

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.