First Hawaiian Bank Reduces Holdings in General Dynamics Co. (NYSE:GD)

First Hawaiian Bank decreased its position in shares of General Dynamics Co. (NYSE:GD) by 14.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,124 shares of the aerospace company’s stock after selling 1,060 shares during the quarter. First Hawaiian Bank’s holdings in General Dynamics were worth $1,777,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GD. Eudaimonia Partners LLC purchased a new stake in General Dynamics in the 4th quarter valued at $240,000. Benjamin F. Edwards & Company Inc. raised its position in General Dynamics by 188.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 40,830 shares of the aerospace company’s stock valued at $10,602,000 after purchasing an additional 26,668 shares in the last quarter. Principal Securities Inc. acquired a new stake in General Dynamics in the 4th quarter valued at about $1,056,000. Gladstone Capital Management LLP acquired a new stake in General Dynamics in the 4th quarter valued at about $3,869,000. Finally, SWP Financial LLC acquired a new stake in General Dynamics in the 4th quarter valued at about $227,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Buying and Selling

In related news, CFO Kimberly A. Kuryea sold 13,344 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was 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 in the company, valued at approximately $23,630,670.80. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, VP Mark Lagrand Burns sold 12,089 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $296.59, for a total transaction of $3,585,476.51. Following the completion of the sale, the vice president now directly owns 64,132 shares in the company, valued at $19,020,909.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total value of $3,978,647.04. Following the completion of the transaction, the chief financial officer now owns 79,255 shares in the company, valued at approximately $23,630,670.80. The disclosure for this sale can be found here. Insiders sold a total of 52,499 shares of company stock worth $15,554,941 in the last three months. 1.52% of the stock is owned by insiders.

General Dynamics Stock Down 2.3 %

Shares of GD stock traded down $6.71 during trading hours on Monday, reaching $285.68. The company had a trading volume of 1,094,058 shares, compared to its average volume of 1,075,345. The stock’s fifty day simple moving average is $292.16 and its 200 day simple moving average is $284.05. The company has a market capitalization of $78.50 billion, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 1.68 and a beta of 0.60. 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 twelve month low of $214.53 and a twelve month high of $302.75.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. During the same period in the previous year, the company earned $2.70 earnings per share. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. As a group, sell-side analysts expect that General Dynamics Co. will post 14.5 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $5.68 dividend on an annualized basis and a yield of 1.99%. General Dynamics’s payout ratio is currently 46.33%.

Wall Street Analyst Weigh In

GD has been the topic of a number of research reports. Argus raised their price target on General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Barclays lifted their target price on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Sanford C. Bernstein lifted their target price on General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. Morgan Stanley lifted their target price on General Dynamics from $271.00 to $293.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Finally, The Goldman Sachs Group lifted their target price on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $312.17.

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.