Stock Yards Bank & Trust Co. Has $1.19 Million Stock Position in General Dynamics Co. (NYSE:GD)

Stock Yards Bank & Trust Co. cut its holdings in shares of General Dynamics Co. (NYSE:GD) by 15.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,948 shares of the aerospace company’s stock after selling 737 shares during the period. Stock Yards Bank & Trust Co.’s holdings in General Dynamics were worth $1,193,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Tudor Financial Inc. acquired a new stake in shares of General Dynamics during the third quarter worth $393,000. Soltis Investment Advisors LLC boosted its holdings in General Dynamics by 0.8% during the third quarter. Soltis Investment Advisors LLC now owns 15,368 shares of the aerospace company’s stock worth $4,644,000 after buying an additional 121 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in General Dynamics by 14.9% during the third quarter. TD Private Client Wealth LLC now owns 4,395 shares of the aerospace company’s stock worth $1,328,000 after buying an additional 570 shares during the last quarter. Sunbelt Securities Inc. grew its position in shares of General Dynamics by 8.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,488 shares of the aerospace company’s stock worth $752,000 after buying an additional 204 shares during the period. Finally, Toronto Dominion Bank increased its stake in shares of General Dynamics by 4.7% in the 3rd quarter. Toronto Dominion Bank now owns 124,347 shares of the aerospace company’s stock valued at $37,578,000 after acquiring an additional 5,532 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

Shares of GD stock opened at $263.04 on Friday. General Dynamics Co. has a 12 month low of $247.36 and a 12 month high of $316.90. The company’s fifty day simple moving average is $293.31 and its 200-day simple moving average is $294.20. The firm has a market cap of $72.33 billion, a PE ratio of 20.03, a P/E/G ratio of 1.63 and a beta of 0.59. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last issued its quarterly earnings results 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 business 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 quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the firm earned $3.04 earnings per share. Equities research analysts expect that General Dynamics Co. will post 13.87 EPS for the current fiscal year.

General Dynamics announced that its board has authorized a stock buyback program on Wednesday, December 4th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a yield of 2.16%. General Dynamics’s dividend payout ratio is 43.26%.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred 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 transaction, the director now owns 3,592 shares in the company, valued at $1,106,515.60. This represents a 26.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

GD has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price objective on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Jefferies Financial Group reissued a “hold” rating and issued a $300.00 price target (down previously from $345.00) on shares of General Dynamics in a report on Thursday. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. The Goldman Sachs Group cut General Dynamics from a “neutral” rating to a “sell” rating and decreased their target price for the company from $283.00 to $245.00 in a research note on Thursday. Finally, Barclays increased their price target on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $317.38.

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.