Sanibel Captiva Trust Company Inc. Has $30.11 Million Stock Holdings in General Dynamics Co. (NYSE:GD)

Sanibel Captiva Trust Company Inc. lessened its holdings in General Dynamics Co. (NYSE:GD - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,444 shares of the aerospace company's stock after selling 2,059 shares during the period. General Dynamics comprises approximately 1.0% of Sanibel Captiva Trust Company Inc.'s portfolio, making the stock its 25th biggest position. Sanibel Captiva Trust Company Inc.'s holdings in General Dynamics were worth $30,105,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in General Dynamics by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company's stock valued at $6,265,813,000 after purchasing an additional 706,317 shares in the last quarter. Capital Research Global Investors increased its position in General Dynamics by 7.4% during the fourth quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company's stock worth $1,774,381,000 after acquiring an additional 463,497 shares during the period. Geode Capital Management LLC increased its holdings in shares of General Dynamics by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 5,688,672 shares of the aerospace company's stock worth $1,496,939,000 after purchasing an additional 131,268 shares during the period. Sanders Capital LLC raised its holdings in General Dynamics by 0.8% in the 4th quarter. Sanders Capital LLC now owns 4,212,422 shares of the aerospace company's stock valued at $1,109,931,000 after acquiring an additional 33,962 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of General Dynamics by 5.2% in the fourth quarter. Royal Bank of Canada now owns 2,935,046 shares of the aerospace company's stock valued at $773,355,000 after purchasing an additional 145,978 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Stock Up 1.1%

General Dynamics stock traded up $3.02 during midday trading on Friday, reaching $282.95. The stock had a trading volume of 1,649,124 shares, compared to its average volume of 1,384,735. The firm's fifty day simple moving average is $274.62 and its 200-day simple moving average is $266.63. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The stock has a market capitalization of $75.94 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 1.69 and a beta of 0.46. General Dynamics Co. has a 1-year low of $239.20 and a 1-year high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last released its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.23. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.92 billion. General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. General Dynamics's revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.88 earnings per share. As a group, analysts expect that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a $1.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 annualized dividend and a yield of 2.12%. General Dynamics's dividend payout ratio (DPR) is currently 41.61%.

Analysts Set New Price Targets

A number of brokerages have commented on GD. Wells Fargo & Company cut their price target on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. TD Securities increased their price objective on shares of General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Susquehanna lifted their target price on General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a research note on Wednesday, April 2nd. Citigroup dropped their price target on shares of General Dynamics from $335.00 to $330.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Cowen reiterated a "buy" rating on shares of General Dynamics in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, General Dynamics has an average rating of "Hold" and an average price target of $293.00.

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.