Argent Trust Co lifted its position in shares of General Dynamics Co. (NYSE:GD) by 5.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,007 shares of the aerospace company’s stock after buying an additional 830 shares during the quarter. Argent Trust Co’s holdings in General Dynamics were worth $2,117,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in GD. State Street Corp boosted its position in General Dynamics by 2.1% during the fourth quarter. State Street Corp now owns 11,016,742 shares of the aerospace company’s stock valued at $1,942,802,000 after acquiring an additional 230,550 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of General Dynamics by 2.7% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,857,497 shares of the aerospace company’s stock worth $680,270,000 after acquiring an additional 101,200 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of General Dynamics by 0.8% in the 4th quarter. Franklin Resources Inc. now owns 3,805,238 shares of the aerospace company’s stock valued at $671,054,000 after purchasing an additional 29,534 shares during the period. Geode Capital Management LLC boosted its position in shares of General Dynamics by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 3,239,427 shares of the aerospace company’s stock valued at $569,943,000 after purchasing an additional 106,411 shares in the last quarter. Finally, Norges Bank acquired a new stake in General Dynamics during the fourth quarter worth approximately $430,864,000. 86.17% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:GD traded down $0.10 during midday 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. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.34 and a quick ratio of 0.97. General Dynamics Co. has a 12 month low of $100.55 and a 12 month high of $193.76. The company has a market cap of $39.78 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 2.31 and a beta of 1.01. The stock has a 50 day moving average price of $133.05 and a 200-day moving average price of $162.93.
General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $2.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.46 by ($0.03). The company had revenue of $8.75 billion for the quarter, compared to analyst estimates of $9.25 billion. General Dynamics had a net margin of 8.87% and a return on equity of 25.92%. General Dynamics’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.56 EPS. On average, analysts anticipate that General Dynamics Co. will post 11.17 EPS for the current fiscal year.
General Dynamics announced that its board has approved a share repurchase plan on Wednesday, March 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 10th were given a dividend of $1.10 per share. This is a boost from General Dynamics’s previous quarterly dividend of $1.02. The ex-dividend date was Wednesday, April 8th. This represents a $4.40 annualized dividend and a dividend yield of 3.18%. General Dynamics’s payout ratio is presently 36.73%.
GD has been the topic of several recent analyst reports. Argus dropped their price target on General Dynamics from $199.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Seaport Global Securities started coverage on shares of General Dynamics in a research report on Tuesday. They set a “buy” rating and a $188.00 target price on the stock. Morgan Stanley raised their price target on shares of General Dynamics from $146.00 to $151.00 and gave the stock an “underweight” rating in a report on Tuesday, April 14th. Royal Bank of Canada assumed coverage on shares of General Dynamics in a report on Wednesday. They set an “outperform” rating and a $157.00 price objective on the stock. Finally, Susquehanna Bancshares cut their price objective on shares of General Dynamics from $179.00 to $167.00 and set a “positive” rating on the stock in a research report on Thursday, April 30th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company’s stock. General Dynamics currently has a consensus rating of “Buy” and an average price target of $187.15.
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.
Recommended Story: What is the strike price in options trading?
Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Co. (NYSE:GD).
Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.