Norwood Financial Corp Purchases 149 Shares of General Dynamics Co. (NYSE:GD)

Norwood Financial Corp grew its position in General Dynamics Co. (NYSE:GD) by 60.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 394 shares of the aerospace company’s stock after purchasing an additional 149 shares during the quarter. Norwood Financial Corp’s holdings in General Dynamics were worth $111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. MeadowBrook Investment Advisors LLC bought a new position in shares of General Dynamics during the fourth quarter worth $25,000. Richardson Financial Services Inc. bought a new position in shares of General Dynamics during the fourth quarter worth $25,000. Financial Synergies Wealth Advisors Inc. bought a new position in shares of General Dynamics during the first quarter worth $29,000. Scarborough Advisors LLC bought a new position in shares of General Dynamics during the fourth quarter worth $33,000. Finally, Voisard Asset Management Group Inc. bought a new position in shares of General Dynamics during the fourth quarter worth $36,000. 86.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on GD shares. Royal Bank of Canada lowered their price objective on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Wells Fargo & Company increased their price objective on shares of General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. BTIG Research initiated coverage on shares of General Dynamics in a research report on Wednesday. They set a “buy” rating and a $345.00 price objective for the company. Barclays increased their target price on shares of General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, StockNews.com downgraded shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $303.24.

General Dynamics Stock Performance

GD stock traded down $2.36 during trading on Friday, reaching $290.14. The company had a trading volume of 2,252,576 shares, compared to its average volume of 1,055,223. The firm has a 50-day simple moving average of $294.27 and a 200-day simple moving average of $277.73. The company has a market cap of $79.60 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 1.68 and a beta of 0.64. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.44. General Dynamics Co. has a twelve month low of $210.65 and a twelve month high of $302.75.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The business had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. During the same period in the prior year, the business posted $2.64 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts expect that General Dynamics Co. will post 14.55 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Friday, July 5th. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Insider Activity

In other news, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the completion of the transaction, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the completion of the transaction, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Leon Rudy F. De sold 2,570 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $288.00, for a total transaction of $740,160.00. Following the completion of the sale, the director now directly owns 5,518 shares of the company’s stock, valued at approximately $1,589,184. The disclosure for this sale can be found here. Insiders sold a total of 118,486 shares of company stock valued at $34,391,642 in the last three months. 1.52% of the stock is currently owned by corporate 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.