National Asset Management Inc. lifted its holdings in shares of General Dynamics Co. (NYSE:GD) by 41.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,495 shares of the aerospace company’s stock after buying an additional 2,510 shares during the period. National Asset Management Inc.’s holdings in General Dynamics were worth $1,125,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of GD. Princeton Global Asset Management LLC acquired a new position in shares of General Dynamics during the 4th quarter worth about $25,000. Anderson Fisher LLC acquired a new stake in General Dynamics in the 4th quarter valued at about $31,000. Solstein Capital LLC acquired a new stake in General Dynamics in the 4th quarter valued at about $31,000. Key Financial Inc acquired a new stake in General Dynamics in the 1st quarter valued at about $31,000. Finally, Wealthcare Advisory Partners LLC lifted its stake in General Dynamics by 30.2% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 263 shares of the aerospace company’s stock valued at $46,000 after purchasing an additional 61 shares during the last quarter. Institutional investors own 86.17% of the company’s stock.
GD has been the subject of several recent analyst reports. Susquehanna Bancshares cut their target price on shares of General Dynamics from $179.00 to $167.00 and set a “positive” rating for the company in a research note on Thursday, April 30th. Credit Suisse Group cut their target price on shares of General Dynamics from $191.00 to $153.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. JPMorgan Chase & Co. upgraded shares of General Dynamics from a “neutral” rating to an “overweight” rating and raised their target price for the company from $210.00 to $225.00 in a research note on Thursday, February 6th. Morgan Stanley raised their target price on shares of General Dynamics from $146.00 to $151.00 and gave the company an “underweight” rating in a research note on Tuesday, April 14th. Finally, TheStreet downgraded shares of General Dynamics from a “b” rating to a “c+” rating in a research note on Friday, March 13th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. General Dynamics presently has a consensus rating of “Buy” and a consensus price target of $187.15.
Shares of GD traded down $0.10 during mid-day trading on Friday, hitting $138.57. 884,108 shares of the company’s stock were exchanged, compared to its average volume of 2,504,818. General Dynamics Co. has a 52 week low of $100.55 and a 52 week high of $193.76. The stock’s 50-day simple moving average is $133.05 and its 200-day simple moving average is $162.93. The firm has a market cap of $39.78 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 2.31 and a beta of 1.01. The company has a quick ratio of 0.97, a current ratio of 1.34 and a debt-to-equity ratio of 0.98.
General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, April 29th. The aerospace company reported $2.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.46 by ($0.03). General Dynamics had a return on equity of 25.92% and a net margin of 8.87%. The business had revenue of $8.75 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the prior year, the business posted $2.56 earnings per share. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. Analysts forecast that General Dynamics Co. will post 11.17 earnings per share for the current fiscal year.
General Dynamics declared that its Board of Directors has approved a stock buyback program on Wednesday, March 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 10th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Wednesday, April 8th. This is a boost from General Dynamics’s previous quarterly dividend of $1.02. This represents a $4.40 annualized dividend and a dividend yield of 3.18%. General Dynamics’s dividend payout ratio (DPR) is currently 36.73%.
General Dynamics Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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