Independence Bank of Kentucky Cuts Position in General Dynamics Co. (NYSE:GD)

Independence Bank of Kentucky lessened its holdings in General Dynamics Co. (NYSE:GDFree Report) by 0.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,445 shares of the aerospace company’s stock after selling 50 shares during the quarter. Independence Bank of Kentucky’s holdings in General Dynamics were worth $1,933,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in General Dynamics by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 22,423,961 shares of the aerospace company’s stock worth $4,955,023,000 after buying an additional 133,061 shares in the last quarter. Wellington Management Group LLP increased its stake in General Dynamics by 12.0% during the 3rd quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock worth $3,615,185,000 after buying an additional 1,755,276 shares in the last quarter. State Street Corp increased its stake in General Dynamics by 0.4% during the 2nd quarter. State Street Corp now owns 9,932,541 shares of the aerospace company’s stock worth $2,136,986,000 after buying an additional 39,597 shares in the last quarter. Geode Capital Management LLC increased its stake in General Dynamics by 6.5% during the 1st quarter. Geode Capital Management LLC now owns 4,228,831 shares of the aerospace company’s stock worth $962,711,000 after buying an additional 259,855 shares in the last quarter. Finally, Sanders Capital LLC increased its stake in General Dynamics by 0.4% during the 3rd quarter. Sanders Capital LLC now owns 4,017,057 shares of the aerospace company’s stock worth $887,649,000 after buying an additional 17,061 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the transaction, the chief executive officer now directly owns 773,977 shares in the company, valued at $204,569,860.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the transaction, the chief executive officer now directly owns 773,977 shares in the company, valued at $204,569,860.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark C. Roualet sold 73,330 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $264.75, for a total value of $19,414,117.50. Following the sale, the executive vice president now directly owns 149,205 shares in the company, valued at approximately $39,502,023.75. The disclosure for this sale can be found here. 1.52% of the stock is owned by insiders.

General Dynamics Trading Up 0.5 %

GD opened at $291.87 on Thursday. General Dynamics Co. has a one year low of $202.35 and a one year high of $292.50. The stock has a market capitalization of $80.08 billion, a PE ratio of 24.28, a P/E/G ratio of 1.85 and a beta of 0.68. The business’s 50 day moving average price is $273.24 and its 200 day moving average price is $253.86. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.92 and a current ratio of 1.44.

General Dynamics (NYSE:GDGet Free Report) last released its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $3.64 EPS for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.04). General Dynamics had a net margin of 7.84% and a return on equity of 16.61%. The business had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.39 billion. During the same quarter in the prior year, the company posted $3.58 earnings per share. The company’s revenue was up 7.5% on a year-over-year basis. As a group, equities research analysts expect that General Dynamics Co. will post 14.57 EPS for the current year.

General Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.95%. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Thursday, April 11th. General Dynamics’s dividend payout ratio is 43.93%.

Wall Street Analyst Weigh In

Several research firms have commented on GD. StockNews.com lowered General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 3rd. UBS Group boosted their target price on General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Royal Bank of Canada boosted their target price on General Dynamics from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday. Citigroup boosted their target price on General Dynamics from $283.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Alembic Global Advisors cut General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 target price on the stock. in a report on Monday, January 29th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $273.62.

Get Our Latest Analysis on General Dynamics

General Dynamics Company Profile

(Free Report)

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.

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

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