Trust Co. of Toledo NA OH Purchases 1,669 Shares of General Dynamics Co. (NYSE:GD)

Trust Co. of Toledo NA OH grew its holdings in General Dynamics Co. (NYSE:GD) by 12.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,951 shares of the aerospace company’s stock after acquiring an additional 1,669 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in General Dynamics were worth $3,939,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GD. MFA Wealth Advisors LLC lifted its position in shares of General Dynamics by 241.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after buying an additional 58 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of General Dynamics in the 3rd quarter valued at approximately $26,000. Lowe Wealth Advisors LLC acquired a new stake in General Dynamics in the third quarter valued at approximately $30,000. True Wealth Design LLC bought a new position in General Dynamics in the third quarter valued at about $34,000. Finally, Meeder Asset Management Inc. grew its holdings in shares of General Dynamics by 385.2% during the second quarter. Meeder Asset Management Inc. now owns 131 shares of the aerospace company’s stock worth $38,000 after purchasing an additional 104 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

Insider Activity

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the sale, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.52% of the stock is currently owned by corporate insiders.

General Dynamics Price Performance

Shares of GD stock traded up $4.70 during trading on Monday, hitting $264.08. The company had a trading volume of 226,735 shares, compared to its average volume of 1,321,506. General Dynamics Co. has a 52 week low of $247.36 and a 52 week high of $316.90. The stock has a market capitalization of $72.61 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The stock’s 50-day moving average is $276.54 and its two-hundred day moving average is $288.99.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). The firm had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last year, the firm earned $3.04 EPS. As a group, analysts predict that General Dynamics Co. will post 13.84 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 repurchase 10,000,000 shares. This repurchase authorization allows the aerospace company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a dividend of $1.42 per share. The ex-dividend date is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.15%. General Dynamics’s dividend payout ratio (DPR) is currently 43.26%.

Analyst Upgrades and Downgrades

GD has been the topic of several recent research reports. Jefferies Financial Group reiterated a “hold” rating and set a $300.00 target price (down from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Vertical Research cut shares of General Dynamics from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $352.00 to $290.00 in a research report on Monday, January 6th. Royal Bank of Canada cut shares of General Dynamics from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $330.00 to $290.00 in a research report on Thursday, December 19th. Finally, TD Cowen raised General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, General Dynamics has an average rating of “Hold” and a consensus target price of $308.18.

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.