National Asset Management Inc. grew its holdings in General Dynamics Co. (NYSE:GD) by 2.1% during the 1st quarter, Holdings Channel reports. The firm owned 3,029 shares of the aerospace company’s stock after acquiring an additional 63 shares during the quarter. National Asset Management Inc.’s holdings in General Dynamics were worth $513,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Financial Gravity Companies Inc. bought a new position in General Dynamics during the fourth quarter worth about $25,000. Harvest Group Wealth Management LLC bought a new position in General Dynamics during the first quarter worth about $28,000. We Are One Seven LLC bought a new position in General Dynamics during the fourth quarter worth about $27,000. Aspire Private Capital LLC bought a new position in General Dynamics during the fourth quarter worth about $29,000. Finally, CX Institutional bought a new position in General Dynamics during the first quarter worth about $45,000. 85.68% of the stock is currently owned by institutional investors.
NYSE:GD opened at $164.03 on Friday. General Dynamics Co. has a 1 year low of $143.87 and a 1 year high of $208.88. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.82. The company has a market capitalization of $47.38 billion, a PE ratio of 14.36, a PEG ratio of 1.64 and a beta of 1.13.
General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.18. General Dynamics had a net margin of 8.68% and a return on equity of 27.62%. The company had revenue of $9.26 billion during the quarter, compared to analysts’ expectations of $8.90 billion. During the same quarter in the previous year, the company posted $2.65 earnings per share. General Dynamics’s quarterly revenue was up 22.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that General Dynamics Co. will post 11.74 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 12th were paid a $1.02 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.49%. This is a boost from General Dynamics’s previous quarterly dividend of $0.93. General Dynamics’s payout ratio is 35.73%.
GD has been the subject of a number of analyst reports. Zacks Investment Research cut shares of General Dynamics from a “hold” rating to a “sell” rating in a research note on Thursday, February 21st. Cowen restated a “buy” rating on shares of General Dynamics in a research note on Wednesday, March 6th. Argus cut shares of General Dynamics from a “buy” rating to a “hold” rating and set a $170.91 price target for the company. in a research note on Thursday, January 31st. Credit Suisse Group cut shares of General Dynamics from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $190.00 to $184.00 in a research note on Friday, February 15th. Finally, ValuEngine cut shares of General Dynamics from a “hold” rating to a “sell” rating in a research note on Saturday, February 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. General Dynamics presently has an average rating of “Hold” and a consensus price target of $198.16.
In related news, EVP John Patrick Casey sold 45,470 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $172.46, for a total value of $7,841,756.20. Following the completion of the sale, the executive vice president now owns 148,133 shares of the company’s stock, valued at $25,547,017.18. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Gary L. Whited sold 14,640 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $165.38, for a total transaction of $2,421,163.20. Following the completion of the sale, the vice president now directly owns 30,462 shares of the company’s stock, valued at approximately $5,037,805.56. The disclosure for this sale can be found here. Insiders own 7.10% of the company’s stock.
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About General Dynamics
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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