CHICAGO TRUST Co NA Sells 40 Shares of General Dynamics Co. (NYSE:GD)

CHICAGO TRUST Co NA cut its holdings in General Dynamics Co. (NYSE:GD) by 2.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,666 shares of the aerospace company’s stock after selling 40 shares during the period. CHICAGO TRUST Co NA’s holdings in General Dynamics were worth $503,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Richardson Financial Services Inc. acquired a new position in shares of General Dynamics during the fourth quarter valued at about $25,000. Redmont Wealth Advisors LLC bought a new position in General Dynamics during the first quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of General Dynamics in the 1st quarter worth approximately $29,000. New Covenant Trust Company N.A. acquired a new stake in shares of General Dynamics during the 1st quarter worth approximately $29,000. Finally, American Capital Advisory LLC bought a new stake in shares of General Dynamics during the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on GD shares. Robert W. Baird reaffirmed an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a research report on Tuesday, July 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a research report on Thursday, July 25th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. TD Cowen raised General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Barclays increased their target price on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $319.06.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.52% of the company’s stock.

General Dynamics Price Performance

Shares of GD stock opened at $299.44 on Monday. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $82.16 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 1.67 and a beta of 0.61. The firm’s 50 day moving average is $297.70 and its 200-day moving average is $293.71. General Dynamics Co. has a 1 year low of $232.29 and a 1 year high of $309.97.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The firm had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.70 earnings per share. Sell-side analysts forecast that General Dynamics Co. will post 14.38 EPS for the current fiscal year.

General Dynamics Announces Dividend

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

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.