CNB Bank Has $314,000 Holdings in General Dynamics Co. (NYSE:GD)

CNB Bank lowered its position in General Dynamics Co. (NYSE:GD) by 9.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,191 shares of the aerospace company’s stock after selling 130 shares during the period. CNB Bank’s holdings in General Dynamics were worth $314,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. MFA Wealth Advisors LLC raised its position in General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 58 shares during the last quarter. Hara Capital LLC bought a new position in General Dynamics in the 3rd quarter worth approximately $26,000. Lowe Wealth Advisors LLC bought a new position in General Dynamics in the third quarter valued at approximately $30,000. True Wealth Design LLC acquired a new position in General Dynamics in the third quarter valued at about $34,000. Finally, Coston McIsaac & Partners grew its position in shares of General Dynamics by 22.8% during the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after buying an additional 33 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on GD shares. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. 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. Royal Bank of Canada cut General Dynamics from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $330.00 to $290.00 in a research note on Thursday, December 19th. Finally, Citigroup raised their price target on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Dynamics has a consensus rating of “Hold” and a consensus price target of $304.53.

Insider Buying and Selling

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the business’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 owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.52% of the stock is currently owned by company insiders.

General Dynamics Trading Down 0.1 %

Shares of General Dynamics stock opened at $267.18 on Friday. General Dynamics Co. has a 52-week low of $247.36 and a 52-week high of $316.90. The stock has a market cap of $73.47 billion, a PE ratio of 20.37, a PEG ratio of 1.38 and a beta of 0.61. The firm has a 50-day moving average of $274.45 and a 200-day moving average of $288.45. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The company had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. General Dynamics’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the business earned $3.04 EPS. As a group, sell-side analysts forecast that General Dynamics Co. will post 13.81 EPS for the current year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Friday, January 17th. General Dynamics’s payout ratio is presently 43.26%.

General Dynamics announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.