North Dallas Bank & Trust Co. Makes New $1.30 Million Investment in General Dynamics Corporation $GD

North Dallas Bank & Trust Co. bought a new position in shares of General Dynamics Corporation (NYSE:GD) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,871 shares of the aerospace company’s stock, valued at approximately $1,303,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. WASHINGTON TRUST Co boosted its position in shares of General Dynamics by 453.3% during the 3rd quarter. WASHINGTON TRUST Co now owns 9,418 shares of the aerospace company’s stock valued at $3,212,000 after acquiring an additional 7,716 shares during the last quarter. Rockland Trust Co. raised its holdings in General Dynamics by 703.4% in the 3rd quarter. Rockland Trust Co. now owns 10,548 shares of the aerospace company’s stock valued at $3,597,000 after buying an additional 9,235 shares during the period. Vanguard Group Inc. raised its holdings in General Dynamics by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock valued at $8,338,169,000 after buying an additional 528,769 shares during the period. Modern Wealth Management LLC raised its holdings in General Dynamics by 114.7% in the 3rd quarter. Modern Wealth Management LLC now owns 6,124 shares of the aerospace company’s stock valued at $2,088,000 after buying an additional 3,271 shares during the period. Finally, Jain Global LLC raised its holdings in General Dynamics by 97.8% in the 3rd quarter. Jain Global LLC now owns 169,305 shares of the aerospace company’s stock valued at $57,733,000 after buying an additional 83,692 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Up 1.5%

Shares of NYSE:GD opened at $345.81 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90. The firm has a market capitalization of $93.52 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 2.11 and a beta of 0.34. The firm’s 50-day moving average is $339.79 and its two-hundred day moving average is $346.35. General Dynamics Corporation has a 1 year low of $268.10 and a 1 year high of $369.70.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.43. The company had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.66 earnings per share. Analysts predict that General Dynamics Corporation will post 16.62 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be paid a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, July 2nd. General Dynamics’s dividend payout ratio is presently 40.03%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Royal Bank Of Canada restated a “sector perform” rating and issued a $385.00 price objective on shares of General Dynamics in a report on Thursday, April 30th. Jefferies Financial Group reduced their price objective on shares of General Dynamics from $385.00 to $380.00 and set a “hold” rating on the stock in a report on Tuesday, April 7th. DA Davidson reduced their price objective on shares of General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Argus boosted their price objective on shares of General Dynamics from $380.00 to $395.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Finally, Wells Fargo & Company initiated coverage on shares of General Dynamics in a report on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, General Dynamics has an average rating of “Moderate Buy” and a consensus target price of $387.40.

Insider Buying and Selling at General Dynamics

In related news, EVP Mark Lagrand Burns sold 36,480 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the sale, the executive vice president directly owned 38,975 shares in the company, valued at approximately $13,457,677.75. This represents a 48.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

General Dynamics Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.