Sabal Trust CO Trims Stake in General Dynamics Co. (NYSE:GD)

Sabal Trust CO lessened its holdings in General Dynamics Co. (NYSE:GD) by 3.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 109,128 shares of the aerospace company’s stock after selling 3,769 shares during the quarter. General Dynamics comprises 1.9% of Sabal Trust CO’s portfolio, making the stock its 15th largest position. Sabal Trust CO’s holdings in General Dynamics were worth $31,662,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Modera Wealth Management LLC grew its holdings in General Dynamics by 0.4% in the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock worth $2,356,000 after purchasing an additional 35 shares during the period. Legend Financial Advisors Inc. grew its holdings in General Dynamics by 46.8% in the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 36 shares during the period. Diversified Trust Co grew its holdings in General Dynamics by 2.5% in the first quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after purchasing an additional 36 shares during the period. Fulton Bank N.A. grew its holdings in General Dynamics by 1.1% in the first quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock worth $932,000 after purchasing an additional 37 shares during the period. Finally, Copperwynd Financial LLC grew its holdings in General Dynamics by 3.7% in the fourth quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock worth $274,000 after purchasing an additional 38 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Up 0.5 %

GD opened at $299.36 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 1-year low of $214.53 and a 1-year high of $302.75. The company has a market capitalization of $82.26 billion, a PE ratio of 24.42, a PEG ratio of 1.64 and a beta of 0.60. The firm’s 50 day simple moving average is $290.64 and its two-hundred day simple moving average is $287.91.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter in the previous year, the business posted $2.70 earnings per share. The firm’s revenue was up 18.0% on a year-over-year basis. As a group, equities analysts forecast that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.90%. General Dynamics’s payout ratio is presently 46.33%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Barclays upped their target price on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. BTIG Research assumed coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price on the stock. Sanford C. Bernstein upped their target price on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. Finally, Wells Fargo & Company upped their target price on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $315.06.

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.