Intrust Bank NA Cuts Stock Holdings in General Dynamics Corporation $GD

Intrust Bank NA trimmed its position in shares of General Dynamics Corporation (NYSE:GD) by 77.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,676 shares of the aerospace company’s stock after selling 19,917 shares during the quarter. Intrust Bank NA’s holdings in General Dynamics were worth $1,911,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GD. Dunhill Financial LLC increased its holdings in shares of General Dynamics by 620.0% during the 3rd quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 62 shares in the last quarter. KERR FINANCIAL PLANNING Corp purchased a new position in shares of General Dynamics during the 3rd quarter valued at approximately $25,000. Dagco Inc. purchased a new position in shares of General Dynamics during the 4th quarter valued at approximately $25,000. Burkett Financial Services LLC increased its holdings in shares of General Dynamics by 650.0% during the 3rd quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 65 shares in the last quarter. Finally, Steph & Co. increased its holdings in shares of General Dynamics by 65.2% during the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 30 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

General Dynamics stock opened at $340.13 on Wednesday. General Dynamics Corporation has a 52-week low of $268.10 and a 52-week high of $369.70. The firm has a market capitalization of $91.98 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 2.13 and a beta of 0.34. The company has a fifty day simple moving average of $342.75 and a 200-day simple moving average of $346.58. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The business had revenue of $13.48 billion during the quarter, compared to analyst estimates of $12.70 billion. During the same quarter in the prior year, the firm earned $3.66 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities analysts anticipate that General Dynamics Corporation will post 16.62 EPS for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 10th were issued a dividend of $1.59 per share. The ex-dividend date of this dividend was Friday, April 10th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.50. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.9%. General Dynamics’s payout ratio is currently 40.03%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GD. Morgan Stanley lifted their target price on shares of General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Dynamics from $387.00 to $377.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. BNP Paribas Exane cut their price target on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a report on Thursday, April 30th. Jefferies Financial Group cut their price target on shares of General Dynamics from $385.00 to $380.00 and set a “hold” rating for the company in a report on Tuesday, April 7th. Finally, Bank of America reissued a “buy” rating and issued a $400.00 price target on shares of General Dynamics in a report on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $387.40.

Insider Transactions at General Dynamics

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the sale, the executive vice president owned 38,975 shares of the company’s stock, valued at $13,457,677.75. This represents a 48.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marguerite Amy Gilliland sold 3,819 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $353.50, for a total transaction of $1,350,016.50. Following the sale, the executive vice president directly owned 44,767 shares of the company’s stock, valued at $15,825,134.50. The trade was a 7.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 119,600 shares of company stock valued at $41,650,580 over the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

General Dynamics Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.