Bangor Savings Bank Sells 80 Shares of General Dynamics Co. (NYSE:GD)

Bangor Savings Bank lowered its position in shares of General Dynamics Co. (NYSE:GD) by 1.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,331 shares of the aerospace company’s stock after selling 80 shares during the quarter. Bangor Savings Bank’s holdings in General Dynamics were worth $1,453,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of GD. Rialto Wealth Management LLC boosted its position in shares of General Dynamics by 213.8% during the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 62 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of General Dynamics during the 4th quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of General Dynamics during the 4th quarter worth approximately $26,000. Copia Wealth Management purchased a new stake in shares of General Dynamics during the 4th quarter worth approximately $27,000. Finally, Hoey Investments Inc. bought a new position in General Dynamics in the 4th quarter worth approximately $28,000. Institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the transaction, the senior vice president now owns 45,192 shares in the company, valued at $12,297,195.12. The trade was a 37.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is owned by corporate insiders.

General Dynamics Price Performance

GD stock opened at $276.43 on Friday. The firm’s 50-day moving average price is $272.69 and its two-hundred day moving average price is $266.62. General Dynamics Co. has a 12-month low of $239.20 and a 12-month high of $316.90. The stock has a market capitalization of $74.19 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 1.69 and a beta of 0.46. 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 released its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.23. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. The firm had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.92 billion. During the same quarter in the previous year, the company earned $2.88 earnings per share. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, equities analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Thursday, July 3rd. General Dynamics’s dividend payout ratio is currently 41.61%.

Wall Street Analyst Weigh In

GD has been the subject of several analyst reports. Cowen reaffirmed a “buy” rating on shares of General Dynamics in a report on Thursday, April 24th. Morgan Stanley cut their price target on shares of General Dynamics from $305.00 to $300.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. UBS Group raised their price target on shares of General Dynamics from $268.00 to $279.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. Argus set a $295.00 price target on shares of General Dynamics in a report on Tuesday, May 6th. Finally, William Blair downgraded shares of General Dynamics from an “outperform” rating to a “market perform” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, General Dynamics has an average rating of “Hold” and an average price target of $293.00.

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.