Fulton Bank N.A. Cuts Stock Position in General Dynamics Co. (NYSE:GD)

Fulton Bank N.A. reduced its stake in General Dynamics Co. (NYSE:GDGet Rating) by 21.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,772 shares of the aerospace company’s stock after selling 759 shares during the period. Fulton Bank N.A.’s holdings in General Dynamics were worth $614,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of General Dynamics in the 4th quarter valued at approximately $484,878,000. Massachusetts Financial Services Co. MA bought a new position in General Dynamics during the 1st quarter valued at $538,503,000. BlackRock Inc. increased its position in shares of General Dynamics by 11.1% in the 1st quarter. BlackRock Inc. now owns 15,457,200 shares of the aerospace company’s stock worth $3,727,966,000 after purchasing an additional 1,547,786 shares during the last quarter. Aaron Wealth Advisors LLC raised its stake in shares of General Dynamics by 24,468.7% in the 1st quarter. Aaron Wealth Advisors LLC now owns 407,594 shares of the aerospace company’s stock valued at $1,690,000 after purchasing an additional 405,935 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of General Dynamics by 44.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,073,407 shares of the aerospace company’s stock worth $258,885,000 after purchasing an additional 329,299 shares during the last quarter. 86.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GD has been the topic of several research reports. Seaport Res Ptn restated a “buy” rating on shares of General Dynamics in a research note on Wednesday, July 27th. Royal Bank of Canada initiated coverage on General Dynamics in a research report on Monday, August 29th. They set an “outperform” rating and a $275.00 price target on the stock. Finally, Cowen set a $260.00 price objective on shares of General Dynamics in a report on Tuesday, July 19th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and an average price target of $256.38.

Insider Activity at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 71,461 shares of the business’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $227.05, for a total transaction of $16,225,220.05. Following the completion of the transaction, the chief executive officer now owns 781,152 shares in the company, valued at approximately $177,360,561.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is owned by insiders.

General Dynamics Stock Performance

GD stock opened at $227.45 on Friday. General Dynamics Co. has a 1 year low of $188.64 and a 1 year high of $254.99. The stock has a market capitalization of $62.38 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 1.84 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.98 and a current ratio of 1.40. The stock’s fifty day moving average is $227.30 and its two-hundred day moving average is $229.86.

General Dynamics (NYSE:GDGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The aerospace company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.03. General Dynamics had a net margin of 8.61% and a return on equity of 19.25%. The firm had revenue of $9.19 billion for the quarter, compared to the consensus estimate of $9.42 billion. During the same period last year, the firm posted $2.61 EPS. General Dynamics’s quarterly revenue was down .3% compared to the same quarter last year. On average, research analysts predict that General Dynamics Co. will post 12.16 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be issued a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Thursday, October 6th. General Dynamics’s dividend payout ratio (DPR) is 42.64%.

General Dynamics Profile

(Get Rating)

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 designs, manufactures, and sells business jets; and offers aircraft maintenance and repair, management, charter, aircraft-on-ground support and completion, staffing, and fixed-base operator services.

Featured Stories

Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.