2,305 Shares in General Dynamics Co. (NYSE:GD) Acquired by Kentucky Trust Co

Kentucky Trust Co purchased a new position in shares of General Dynamics Co. (NYSE:GD) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,305 shares of the aerospace company’s stock, valued at approximately $607,000.

A number of other institutional investors and hedge funds have also modified their holdings of GD. MFA Wealth Advisors LLC raised its stake in shares of General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after buying an additional 58 shares during the last quarter. Financial Life Planners bought a new stake in shares of General Dynamics during the fourth quarter worth approximately $25,000. Hara Capital LLC bought a new stake in shares of General Dynamics during the third quarter worth approximately $26,000. Sugar Maple Asset Management LLC bought a new stake in shares of General Dynamics during the fourth quarter worth approximately $28,000. Finally, Heck Capital Advisors LLC bought a new stake in General Dynamics in the fourth quarter valued at approximately $28,000. 86.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on GD. Wolfe Research downgraded shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 11th. Susquehanna lowered their target price on shares of General Dynamics from $315.00 to $300.00 and set a “positive” rating for the company in a research note on Thursday, January 30th. Robert W. Baird reaffirmed a “neutral” rating and issued a $283.00 target price (down previously from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. Royal Bank of Canada lowered their target price on shares of General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a research note on Thursday, January 30th. Finally, TD Cowen lowered their target price on shares of General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $298.59.

General Dynamics Stock Performance

Shares of GD opened at $256.92 on Wednesday. General Dynamics Co. has a 12 month low of $247.01 and a 12 month high of $316.90. The firm has a fifty day simple moving average of $264.07 and a 200 day simple moving average of $285.32. The stock has a market capitalization of $70.65 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 1.61 and a beta of 0.61. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. Research analysts forecast that General Dynamics Co. will post 14.84 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were given a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Friday, January 17th. General Dynamics’s payout ratio is presently 41.64%.

General Dynamics announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the transaction, the vice president now directly owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Laura J. Schumacher sold 1,796 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the transaction, the director now directly owns 11,175 shares in the company, valued at approximately $2,857,224. This represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

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.