Burke & Herbert Bank & Trust Co. Sells 250 Shares of General Dynamics Co. (NYSE:GD)

Burke & Herbert Bank & Trust Co. reduced its position in General Dynamics Co. (NYSE:GD) by 4.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,997 shares of the aerospace company’s stock after selling 250 shares during the quarter. Burke & Herbert Bank & Trust Co.’s holdings in General Dynamics were worth $1,510,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GD. International Assets Investment Management LLC increased its stake in General Dynamics by 40,389.3% in the third quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock valued at $416,876,000 after acquiring an additional 1,376,065 shares during the period. 1832 Asset Management L.P. raised its holdings in shares of General Dynamics by 2,189.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock worth $108,572,000 after buying an additional 357,861 shares in the last quarter. Public Employees Retirement Association of Colorado raised its holdings in shares of General Dynamics by 879.9% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock worth $96,148,000 after buying an additional 305,624 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in General Dynamics by 4.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after acquiring an additional 293,316 shares during the period. Finally, Hsbc Holdings PLC raised its stake in General Dynamics by 24.2% during the second quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock worth $391,119,000 after acquiring an additional 262,164 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Up 0.8 %

Shares of NYSE GD traded up $2.42 during midday trading on Friday, reaching $303.69. 49,417 shares of the stock were exchanged, compared to its average volume of 1,089,169. General Dynamics Co. has a 12 month low of $236.58 and a 12 month high of $313.11. The company has a market capitalization of $83.32 billion, a price-to-earnings ratio of 24.57, a P/E/G ratio of 1.67 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The business has a 50-day simple moving average of $300.17 and a two-hundred day simple moving average of $294.55.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter in the prior year, the firm posted $3.04 earnings per share. The business’s revenue was up 10.4% on a year-over-year basis. As a group, equities research analysts expect that General Dynamics Co. will post 14.38 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.87%. General Dynamics’s payout ratio is 46.33%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GD shares. Susquehanna upped their price objective on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research note on Thursday, October 17th. Wells Fargo & Company lifted their price objective on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research report on Thursday. Robert W. Baird restated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. TD Cowen raised General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, General Dynamics presently has a consensus rating of “Moderate Buy” and an average price target of $323.88.

Insiders Place Their Bets

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

General Dynamics 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.