Busey Bank Purchases 1,839 Shares of General Dynamics Co. (NYSE:GD)

Busey Bank increased its holdings in shares of General Dynamics Co. (NYSE:GD) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 68,468 shares of the aerospace company’s stock after buying an additional 1,839 shares during the quarter. Busey Bank’s holdings in General Dynamics were worth $20,691,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of GD. Coston McIsaac & Partners increased its holdings in General Dynamics by 22.8% in the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after purchasing an additional 33 shares in the last quarter. Global X Japan Co. Ltd. boosted its position in General Dynamics by 2.3% during the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock worth $448,000 after buying an additional 33 shares during the period. Grove Bank & Trust grew its holdings in General Dynamics by 10.6% during the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after acquiring an additional 34 shares during the last quarter. Modera Wealth Management LLC increased its position in General Dynamics by 0.4% in the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after acquiring an additional 35 shares during the period. Finally, Rathbones Group PLC raised its stake in shares of General Dynamics by 1.8% during the second quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock valued at $587,000 after acquiring an additional 35 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GD. Robert W. Baird restated an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. Sanford C. Bernstein cut their price objective on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Seaport Res Ptn lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Wells Fargo & Company boosted their price target on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $323.88.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $301.27 on Friday. The business has a 50-day simple moving average of $300.17 and a 200 day simple moving average of $294.55. General Dynamics Co. has a one year low of $236.58 and a one year high of $313.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The firm has a market capitalization of $82.66 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same period in the previous year, the company earned $3.04 earnings per share. General Dynamics’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, research analysts anticipate that General Dynamics Co. will post 14.38 earnings per share 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. Stockholders of record on Friday, October 11th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is presently 46.33%.

Insider Activity at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.52% of the stock is owned by insiders.

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.