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

CNB Bank decreased its holdings in General Dynamics Co. (NYSE:GD) by 9.8% during the 4th quarter, HoldingsChannel.com reports. The firm 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 quarter.

Other institutional investors have also bought and sold shares of the company. Fifth Third Wealth Advisors LLC boosted its holdings in shares of General Dynamics by 67.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock worth $2,583,000 after buying an additional 3,448 shares in the last quarter. Olstein Capital Management L.P. increased its stake in General Dynamics by 36.4% in the third quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock valued at $4,533,000 after purchasing an additional 4,000 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of General Dynamics by 10.0% during the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock valued at $11,204,000 after purchasing an additional 3,363 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of General Dynamics by 69.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company’s stock worth $69,032,000 after purchasing an additional 107,095 shares in the last quarter. Finally, Lummis Asset Management LP grew its stake in shares of General Dynamics by 32.6% in the 3rd quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock valued at $3,133,000 after buying an additional 2,551 shares during the period. Institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the transaction, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.52% of the company’s stock.

General Dynamics Stock Down 0.1 %

Shares of NYSE GD opened at $267.18 on Friday. The business has a 50-day moving average of $274.45 and a 200-day moving average of $288.45. The firm has a market capitalization of $73.47 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 1.38 and a beta of 0.61. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. General Dynamics Co. has a 12 month low of $247.36 and a 12 month high of $316.90.

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

General Dynamics declared that its board has approved a stock repurchase plan on Wednesday, December 4th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s payout ratio is currently 43.26%.

Analyst Ratings Changes

A number of brokerages have commented on GD. Vertical Research cut General Dynamics from a “buy” rating to a “hold” rating and reduced their price objective for the company from $352.00 to $290.00 in a research note on Monday, January 6th. The Goldman Sachs Group lowered General Dynamics from a “neutral” rating to a “sell” rating and dropped their target price for the company from $283.00 to $245.00 in a report on Thursday, December 12th. Robert W. Baird reissued a “neutral” rating and issued a $283.00 price target (down from $345.00) on shares of General Dynamics in a research report on Tuesday. Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Finally, Baird R W downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $304.53.

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.