Bath Savings Trust Co Grows Stock Holdings in General Dynamics Co. (NYSE:GD)

Bath Savings Trust Co boosted its stake in shares of General Dynamics Co. (NYSE:GD) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,862 shares of the aerospace company’s stock after buying an additional 95 shares during the period. Bath Savings Trust Co’s holdings in General Dynamics were worth $3,916,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in General Dynamics in the fourth quarter worth $728,284,000. Wellington Management Group LLP lifted its holdings 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 valued at $3,615,185,000 after purchasing an additional 1,755,276 shares in the last quarter. International Assets Investment Management LLC lifted its holdings 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 valued at $239,829,000 after purchasing an additional 915,091 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings 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 valued at $145,048,000 after purchasing an additional 543,672 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of General Dynamics by 13.7% during the third quarter. FMR LLC now owns 2,293,269 shares of the aerospace company’s stock valued at $506,744,000 after purchasing an additional 275,947 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

In other news, VP Gregory S. Gallopoulos sold 13,567 shares of the company’s stock in a transaction dated 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 owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Phebe N. Novakovic sold 49,850 shares of the stock in a transaction that occurred 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 $218,773,956.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction that occurred on 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 directly owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The disclosure for this sale can be found here. Insiders sold a total of 118,486 shares of company stock valued at $34,391,642 over the last 90 days. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

GD has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their price target on General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. The Goldman Sachs Group upped their price target on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. StockNews.com downgraded General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Wells Fargo & Company upped their price objective on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Finally, Susquehanna upped their price objective on General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research report on Friday, April 12th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $300.63.

General Dynamics Stock Performance

GD traded up $4.17 during midday trading on Wednesday, reaching $298.00. The company had a trading volume of 748,596 shares, compared to its average volume of 768,507. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The business has a 50-day moving average of $292.97 and a two-hundred day moving average of $275.78. The company has a market cap of $81.76 billion, a P/E ratio of 24.31, a P/E/G ratio of 1.68 and a beta of 0.64. General Dynamics Co. has a 1 year low of $209.25 and a 1 year high of $302.42.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The company had revenue of $10.73 billion during the quarter, compared to analysts’ expectations of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.64 EPS. As a group, equities research analysts predict that General Dynamics Co. will post 14.55 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

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.