Trust Co. of Toledo NA OH Boosts Stock Position in General Dynamics Co. (NYSE:GD)

Trust Co. of Toledo NA OH boosted its position in shares of General Dynamics Co. (NYSE:GD) by 12.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,951 shares of the aerospace company’s stock after acquiring an additional 1,669 shares during the period. Trust Co. of Toledo NA OH’s holdings in General Dynamics were worth $3,939,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its stake in General Dynamics by 385.2% during the second quarter. Meeder Asset Management Inc. now owns 131 shares of the aerospace company’s stock valued at $38,000 after acquiring an additional 104 shares in the last quarter. Parallel Advisors LLC increased its position in General Dynamics by 0.8% in the second quarter. Parallel Advisors LLC now owns 4,968 shares of the aerospace company’s stock worth $1,441,000 after purchasing an additional 40 shares during the last quarter. Thoroughbred Financial Services LLC lifted its position in General Dynamics by 30.1% during the second quarter. Thoroughbred Financial Services LLC now owns 5,717 shares of the aerospace company’s stock valued at $1,658,000 after purchasing an additional 1,321 shares during the last quarter. Wealthspire Advisors LLC raised its position in shares of General Dynamics by 9.9% during the 2nd quarter. Wealthspire Advisors LLC now owns 1,712 shares of the aerospace company’s stock valued at $497,000 after buying an additional 154 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in General Dynamics by 1.0% in the second quarter. Envestnet Asset Management Inc. now owns 870,968 shares of the aerospace company’s stock worth $252,703,000 after acquiring an additional 8,738 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GD. Jefferies Financial Group reiterated a “hold” rating and issued a $300.00 price target (down from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Wolfe Research lowered shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group cut shares of General Dynamics from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $283.00 to $245.00 in a report on Thursday, December 12th. Barclays dropped their price objective on shares of General Dynamics from $330.00 to $305.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, Wells Fargo & Company dropped their price target on General Dynamics from $295.00 to $279.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, General Dynamics presently has an average rating of “Hold” and an average target price of $308.18.

General Dynamics Trading Up 1.8 %

Shares of General Dynamics stock traded up $4.70 on Monday, reaching $264.08. The company had a trading volume of 226,735 shares, compared to its average volume of 1,321,506. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. The firm has a market cap of $72.61 billion, a PE ratio of 20.11, a PEG ratio of 1.62 and a beta of 0.61. The firm’s 50 day moving average price is $276.54 and its two-hundred day moving average price is $288.99. General Dynamics Co. has a 52-week low of $247.36 and a 52-week high of $316.90.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same quarter last year, the firm posted $3.04 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. Sell-side analysts predict that General Dynamics Co. will post 13.84 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a yield of 2.15%. General Dynamics’s dividend payout ratio is currently 43.26%.

General Dynamics announced that its board has authorized a share repurchase program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the transaction, the vice president now directly owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.52% of the stock is currently owned by company insiders.

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.