Bank of Stockton Reduces Stock Holdings in General Dynamics Co. (NYSE:GD)

Bank of Stockton cut its holdings in General Dynamics Co. (NYSE:GD) by 7.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,424 shares of the aerospace company’s stock after selling 353 shares during the quarter. Bank of Stockton’s holdings in General Dynamics were worth $1,337,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Lake Street Advisors Group LLC grew its holdings in shares of General Dynamics by 1.5% during the third quarter. Lake Street Advisors Group LLC now owns 3,056 shares of the aerospace company’s stock valued at $924,000 after buying an additional 45 shares during the last quarter. Canal Capital Management LLC grew its stake in General Dynamics by 6.3% during the 3rd quarter. Canal Capital Management LLC now owns 21,441 shares of the aerospace company’s stock valued at $6,480,000 after purchasing an additional 1,276 shares during the last quarter. Financial Partners Group LLC increased its holdings in shares of General Dynamics by 331.5% in the third quarter. Financial Partners Group LLC now owns 3,672 shares of the aerospace company’s stock valued at $1,110,000 after purchasing an additional 2,821 shares during the period. Heritage Oak Wealth Advisors LLC purchased a new position in shares of General Dynamics in the third quarter worth about $269,000. Finally, Busey Bank lifted its holdings in shares of General Dynamics by 2.8% during the third quarter. Busey Bank now owns 68,468 shares of the aerospace company’s stock worth $20,691,000 after purchasing an additional 1,839 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

GD has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Barclays boosted their target price on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Citigroup increased their price target on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. TD Cowen raised General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Dynamics has a consensus rating of “Moderate Buy” and a consensus target price of $323.88.

General Dynamics Price Performance

Shares of NYSE GD traded up $2.80 during trading on Friday, hitting $304.07. The company had a trading volume of 172,605 shares, compared to its average volume of 1,089,764. General Dynamics Co. has a fifty-two week low of $236.58 and a fifty-two week high of $313.11. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $300.17 and a two-hundred day simple moving average of $294.55. The firm has a market capitalization of $83.43 billion, a price-to-earnings ratio of 24.57, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 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 analysts’ expectations of $11.65 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. General Dynamics’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.04 earnings per share. On average, research analysts expect that General Dynamics Co. will post 14.38 earnings per share for the current year.

General Dynamics Announces Dividend

The firm also recently declared 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. This represents a $5.68 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 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.