Moody National Bank Trust Division acquired a new position in General Dynamics Co. (NYSE:GD – Get Rating) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,182 shares of the aerospace company’s stock, valued at approximately $483,000.
Other institutional investors have also recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new position in shares of General Dynamics in the first quarter worth about $75,000. Vanguard Group Inc. raised its stake in shares of General Dynamics by 0.7% in the first quarter. Vanguard Group Inc. now owns 20,326,396 shares of the aerospace company’s stock worth $4,902,319,000 after buying an additional 140,760 shares during the period. Allstate Corp raised its stake in shares of General Dynamics by 566.9% in the fourth quarter. Allstate Corp now owns 20,241 shares of the aerospace company’s stock worth $4,220,000 after buying an additional 17,206 shares during the period. AIA Group Ltd raised its stake in shares of General Dynamics by 47.9% in the first quarter. AIA Group Ltd now owns 3,494 shares of the aerospace company’s stock worth $843,000 after buying an additional 1,131 shares during the period. Finally, Good Life Advisors LLC raised its stake in shares of General Dynamics by 3.3% in the first quarter. Good Life Advisors LLC now owns 4,150 shares of the aerospace company’s stock worth $1,001,000 after buying an additional 132 shares during the period. Institutional investors own 86.16% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently commented on GD. Seaport Res Ptn reaffirmed a “buy” rating on shares of General Dynamics in a research note on Wednesday, July 27th. Cowen set a $260.00 target price on General Dynamics in a research report on Tuesday, July 19th. Finally, Royal Bank of Canada began coverage on General Dynamics in a research report on Monday, August 29th. They set an “outperform” rating and a $275.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $256.38.
General Dynamics Stock Performance
General Dynamics (NYSE:GD – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The aerospace company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.03. The business had revenue of $9.19 billion during the quarter, compared to analysts’ expectations of $9.42 billion. General Dynamics had a return on equity of 19.25% and a net margin of 8.61%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the business posted $2.61 EPS. On average, research analysts predict that General Dynamics Co. will post 12.16 EPS for the current fiscal year.
General Dynamics Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, October 7th will be issued a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Thursday, October 6th. General Dynamics’s dividend payout ratio is presently 42.64%.
Insider Transactions at General Dynamics
In other news, CEO Phebe N. Novakovic sold 71,461 shares of General Dynamics stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $227.05, for a total value of $16,225,220.05. Following the completion of the transaction, the chief executive officer now owns 781,152 shares in the company, valued at approximately $177,360,561.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.50% of the company’s stock.
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 designs, manufactures, and sells business jets; and offers aircraft maintenance and repair, management, charter, aircraft-on-ground support and completion, staffing, and fixed-base operator services.
- Get a free copy of the StockNews.com research report on General Dynamics (GD)
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