Norway Savings Bank Has $1.15 Million Position in General Dynamics Co. (NYSE:GD)

Norway Savings Bank boosted its stake in General Dynamics Co. (NYSE:GD) by 7.2% in the third quarter, HoldingsChannel reports. The firm owned 3,809 shares of the aerospace company’s stock after buying an additional 256 shares during the period. Norway Savings Bank’s holdings in General Dynamics were worth $1,151,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several research firms recently issued reports on GD. Robert W. Baird reissued an “outperform” rating and issued a $345.00 price target on shares of General Dynamics in a research report on Tuesday, July 2nd. BTIG Research started coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price for the company. Citigroup raised their price target on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $319.06.

Insider Activity at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.52% of the stock is owned by company insiders.

General Dynamics Stock Performance

GD traded up $0.15 during midday trading on Tuesday, reaching $302.01. The company had a trading volume of 196,848 shares, compared to its average volume of 1,088,390. The business has a 50-day moving average price of $298.03 and a two-hundred day moving average price of $293.84. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. General Dynamics Co. has a 12-month low of $232.29 and a 12-month high of $309.97. The stock has a market cap of $82.86 billion, a PE ratio of 24.63, a P/E/G ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced 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). The firm had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. General Dynamics’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period last year, the company posted $2.70 earnings per share. On average, sell-side analysts expect that General Dynamics Co. will post 14.38 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

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

General Dynamics 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.