Parkside Financial Bank & Trust Trims Stock Holdings in General Dynamics Co. (NYSE:GD)

Parkside Financial Bank & Trust trimmed its holdings in General Dynamics Co. (NYSE:GDGet Rating) by 23.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,869 shares of the aerospace company’s stock after selling 586 shares during the period. Parkside Financial Bank & Trust’s holdings in General Dynamics were worth $451,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Brown Brothers Harriman & Co. boosted its holdings in General Dynamics by 791.6% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,275 shares of the aerospace company’s stock valued at $308,000 after purchasing an additional 1,132 shares during the period. MMA Asset Management LLC boosted its holdings in General Dynamics by 56.0% in the 1st quarter. MMA Asset Management LLC now owns 1,788 shares of the aerospace company’s stock valued at $410,000 after purchasing an additional 642 shares during the period. Zions Bancorporation N.A. boosted its holdings in General Dynamics by 294.2% in the 1st quarter. Zions Bancorporation N.A. now owns 540 shares of the aerospace company’s stock valued at $130,000 after purchasing an additional 403 shares during the period. Financial Advisors Network Inc. boosted its holdings in General Dynamics by 71.2% in the 1st quarter. Financial Advisors Network Inc. now owns 3,091 shares of the aerospace company’s stock valued at $745,000 after purchasing an additional 1,286 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in General Dynamics by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 20,326,396 shares of the aerospace company’s stock valued at $4,902,319,000 after purchasing an additional 140,760 shares during the period. 86.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Phebe N. Novakovic sold 71,461 shares of General Dynamics stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $227.05, for a total value of $16,225,220.05. Following the transaction, the chief executive officer now owns 781,152 shares in the company, valued at approximately $177,360,561.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GD shares. Royal Bank of Canada started coverage on shares of General Dynamics in a report on Monday, August 29th. They issued an “outperform” rating and a $275.00 price target for the company. Cowen set a $260.00 price objective on shares of General Dynamics in a report on Tuesday, July 19th. Finally, Seaport Res Ptn reaffirmed a “buy” rating on shares of General Dynamics in a report on Wednesday, July 27th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and an average target price of $256.38.

General Dynamics Stock Performance

NYSE GD opened at $227.69 on Friday. The company has a market capitalization of $62.44 billion, a P/E ratio of 19.26, a P/E/G ratio of 1.81 and a beta of 0.86. The company has a fifty day moving average of $226.14 and a 200-day moving average of $229.62. General Dynamics Co. has a 52-week low of $188.64 and a 52-week high of $254.99. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.98 and a current ratio of 1.40.

General Dynamics (NYSE:GDGet Rating) last issued its earnings results on Wednesday, July 27th. The aerospace company reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.03. The company had revenue of $9.19 billion for the quarter, compared to analysts’ expectations of $9.42 billion. General Dynamics had a net margin of 8.61% and a return on equity of 19.25%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the company earned $2.61 EPS. As a group, equities research analysts predict that General Dynamics Co. will post 12.16 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be given a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Thursday, October 6th. General Dynamics’s payout ratio is presently 42.64%.

General Dynamics Company Profile

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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 designs, manufactures, and sells business jets; and offers aircraft maintenance and repair, management, charter, aircraft-on-ground support and completion, staffing, and fixed-base operator services.

Further Reading

Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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