General Dynamics Co. (NYSE:GD) Shares Bought by Canal Capital Management LLC

Canal Capital Management LLC grew its stake in shares of General Dynamics Co. (NYSE:GD) by 7.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 18,569 shares of the aerospace company’s stock after acquiring an additional 1,265 shares during the period. Canal Capital Management LLC’s holdings in General Dynamics were worth $4,822,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Markel Corp lifted its holdings in shares of General Dynamics by 0.9% in the first quarter. Markel Corp now owns 390,500 shares of the aerospace company’s stock valued at $94,181,000 after purchasing an additional 3,500 shares in the last quarter. Moors & Cabot Inc. lifted its position in shares of General Dynamics by 13.2% in the first quarter. Moors & Cabot Inc. now owns 4,202 shares of the aerospace company’s stock worth $1,014,000 after purchasing an additional 490 shares in the last quarter. Zions Bancorporation N.A. boosted its stake in shares of General Dynamics by 294.2% during the 1st quarter. Zions Bancorporation N.A. now owns 540 shares of the aerospace company’s stock valued at $130,000 after buying an additional 403 shares during the period. Brown Brothers Harriman & Co. raised its holdings in shares of General Dynamics by 791.6% during the first quarter. Brown Brothers Harriman & Co. now owns 1,275 shares of the aerospace company’s stock worth $308,000 after acquiring an additional 1,132 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in General Dynamics by 51.6% in the first quarter. NewEdge Advisors LLC now owns 34,153 shares of the aerospace company’s stock valued at $8,237,000 after purchasing an additional 11,630 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Phebe N. Novakovic sold 32,355 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the transaction, the chief executive officer now owns 773,977 shares of the company’s stock, valued at $204,569,860.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Mark C. Roualet sold 73,330 shares of General Dynamics stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the transaction, the executive vice president now owns 149,205 shares of the company’s stock, valued at approximately $39,502,023.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Phebe N. Novakovic sold 32,355 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the completion of the sale, the chief executive officer now directly owns 773,977 shares of the company’s stock, valued at approximately $204,569,860.87. The disclosure for this sale can be found here. 1.52% of the stock is owned by insiders.

General Dynamics Stock Up 0.7 %

Shares of GD stock opened at $295.18 on Friday. General Dynamics Co. has a one year low of $202.35 and a one year high of $295.45. The stock has a market cap of $80.99 billion, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 1.88 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.92. The stock has a fifty day moving average price of $275.00 and a 200 day moving average price of $255.11.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, January 24th. The aerospace company reported $3.64 EPS for the quarter, missing the consensus estimate of $3.68 by ($0.04). The company had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.39 billion. General Dynamics had a return on equity of 16.61% and a net margin of 7.84%. General Dynamics’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business earned $3.58 EPS. Analysts predict that General Dynamics Co. will post 14.57 earnings per share for the current year.

General Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.92%. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Thursday, April 11th. General Dynamics’s payout ratio is currently 43.93%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GD shares. Citigroup lifted their price objective on shares of General Dynamics from $283.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Wells Fargo & Company raised their price objective on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research note on Thursday. StockNews.com downgraded General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 3rd. Royal Bank of Canada boosted their price objective on shares of General Dynamics from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. Finally, UBS Group lifted their target price on shares of General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Three research analysts have rated the stock with a hold rating and seven have assigned 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 $278.08.

General Dynamics Company 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.