Bangor Savings Bank Sells 231 Shares of General Dynamics Co. (NYSE:GD)

Bangor Savings Bank reduced its holdings in General Dynamics Co. (NYSE:GD) by 4.1% during the 4th quarter, Holdings Channel reports. The fund owned 5,411 shares of the aerospace company’s stock after selling 231 shares during the quarter. Bangor Savings Bank’s holdings in General Dynamics were worth $1,426,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of GD. Capital Market Strategies LLC lifted its position in shares of General Dynamics by 9.0% during the 4th quarter. Capital Market Strategies LLC now owns 1,492 shares of the aerospace company’s stock valued at $393,000 after acquiring an additional 123 shares during the period. Central Pacific Bank Trust Division increased its holdings in General Dynamics by 6.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 1,683 shares of the aerospace company’s stock valued at $443,000 after buying an additional 100 shares during the period. Principal Financial Group Inc. boosted its position in shares of General Dynamics by 17.5% during the 3rd quarter. Principal Financial Group Inc. now owns 297,577 shares of the aerospace company’s stock worth $89,928,000 after acquiring an additional 44,387 shares in the last quarter. FFG Partners LLC increased its stake in General Dynamics by 3.5% in the third quarter. FFG Partners LLC now owns 19,875 shares of the aerospace company’s stock valued at $6,006,000 after acquiring an additional 668 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its stake in General Dynamics by 12.4% during the third quarter. Retirement Systems of Alabama now owns 56,384 shares of the aerospace company’s stock worth $17,039,000 after purchasing an additional 6,231 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the sale, the vice president now directly owns 20,296 shares in the company, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.52% of the stock is currently owned by insiders.

General Dynamics Stock Performance

NYSE GD opened at $257.89 on Tuesday. The stock has a 50-day moving average of $279.46 and a 200 day moving average of $290.01. General Dynamics Co. has a twelve month low of $247.36 and a twelve month high of $316.90. The stock has a market capitalization of $70.91 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 1.62 and a beta of 0.61. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32.

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

General Dynamics declared that its Board of Directors has authorized a stock 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 repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given 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 2.20%. General Dynamics’s payout ratio is currently 43.26%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GD. Vertical Research cut General Dynamics from a “buy” rating to a “hold” rating and lowered their price target for the stock from $352.00 to $290.00 in a report on Monday. Royal Bank of Canada downgraded General Dynamics from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $330.00 to $290.00 in a research note on Thursday, December 19th. Wolfe Research lowered shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a report on Wednesday, December 11th. Seaport Res Ptn cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $300.00 target price (down previously from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $311.29.

About General Dynamics

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.