General Dynamics Co. (NYSE:GD) Shares Sold by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH trimmed its holdings in General Dynamics Co. (NYSE:GD) by 9.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,603 shares of the aerospace company’s stock after selling 160 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in General Dynamics were worth $465,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of GD. Richardson Financial Services Inc. acquired a new stake in General Dynamics during the 4th quarter worth about $25,000. Redmont Wealth Advisors LLC acquired a new stake in General Dynamics during the 1st quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in General Dynamics during the 1st quarter worth about $29,000. New Covenant Trust Company N.A. acquired a new stake in General Dynamics during the 1st quarter worth about $29,000. Finally, American Capital Advisory LLC acquired a new position in shares of General Dynamics in the 2nd quarter valued at about $29,000. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Up 3.0 %

Shares of General Dynamics stock opened at $301.56 on Tuesday. The stock has a market capitalization of $82.86 billion, a P/E ratio of 24.60, a PEG ratio of 1.60 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average price of $291.07 and a two-hundred day moving average price of $289.30. General Dynamics Co. has a 12-month low of $214.53 and a 12-month high of $303.10.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same period in the prior year, the company posted $2.70 earnings per share. The firm’s revenue was up 18.0% compared to the same quarter last year. Equities analysts expect that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.88%. General Dynamics’s dividend payout ratio is 46.33%.

Analysts Set New Price Targets

GD has been the topic of a number of research reports. BTIG Research initiated coverage on General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price on the stock. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $293.00 to $345.00 in a report on Friday, August 9th. Sanford C. Bernstein upped their target price on General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. Wells Fargo & Company upped their target price on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Barclays upped their target price on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.06.

General Dynamics Company 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.