Whittier Trust Co. of Nevada Inc. Reduces Stock Position in General Dynamics Co. (NYSE:GD)

Whittier Trust Co. of Nevada Inc. cut its stake in General Dynamics Co. (NYSE:GD) by 29.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 573 shares of the aerospace company’s stock after selling 236 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in General Dynamics were worth $166,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. HB Wealth Management LLC increased its stake in shares of General Dynamics by 1.7% during the 2nd quarter. HB Wealth Management LLC now owns 31,174 shares of the aerospace company’s stock worth $9,045,000 after purchasing an additional 509 shares in the last quarter. Presidio Capital Management LLC increased its stake in shares of General Dynamics by 10.1% during the 2nd quarter. Presidio Capital Management LLC now owns 5,885 shares of the aerospace company’s stock worth $1,708,000 after purchasing an additional 542 shares in the last quarter. Trajan Wealth LLC increased its stake in shares of General Dynamics by 3.7% during the 2nd quarter. Trajan Wealth LLC now owns 25,362 shares of the aerospace company’s stock worth $7,358,000 after purchasing an additional 914 shares in the last quarter. Breakwater Capital Group increased its stake in shares of General Dynamics by 739.0% during the 2nd quarter. Breakwater Capital Group now owns 7,048 shares of the aerospace company’s stock worth $2,045,000 after purchasing an additional 6,208 shares in the last quarter. Finally, McClarren Financial Advisors Inc. increased its stake in shares of General Dynamics by 5,700.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 290 shares of the aerospace company’s stock worth $84,000 after purchasing an additional 285 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GD. Robert W. Baird reissued an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. Sanford C. Bernstein raised their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. StockNews.com cut shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Finally, Wells Fargo & Company lifted their target price on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, General Dynamics has a consensus rating of “Moderate Buy” and a consensus target price of $315.06.

General Dynamics Stock Up 0.9 %

Shares of NYSE:GD traded up $2.56 during midday trading on Thursday, hitting $299.20. 652,413 shares of the company’s stock traded hands, compared to its average volume of 1,054,567. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The company has a market cap of $82.09 billion, a PE ratio of 24.20, a P/E/G ratio of 1.68 and a beta of 0.60. The firm’s fifty day moving average price is $290.68 and its two-hundred day moving average price is $287.56. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $302.75.

General Dynamics (NYSE:GD) last posted its earnings results 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 business had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.70 EPS. On average, equities research analysts anticipate that General Dynamics Co. will post 14.5 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.90%. General Dynamics’s payout ratio is 46.33%.

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.