Pinnacle Bank bought a new position in General Dynamics Co. (NYSE:GD) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 672 shares of the aerospace company’s stock, valued at approximately $126,000.
Several other large investors have also recently added to or reduced their stakes in GD. Quadrant Capital Group LLC increased its stake in General Dynamics by 0.7% in the first quarter. Quadrant Capital Group LLC now owns 608 shares of the aerospace company’s stock worth $108,000 after buying an additional 4 shares during the last quarter. First Command Bank purchased a new stake in General Dynamics during the fourth quarter worth $125,000. Archford Capital Strategies LLC increased its stake in General Dynamics by 74.2% in the fourth quarter. Archford Capital Strategies LLC now owns 810 shares of the aerospace company’s stock worth $139,000 after buying an additional 345 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in General Dynamics by 6.5% in the third quarter. Parkside Financial Bank & Trust now owns 920 shares of the aerospace company’s stock worth $143,000 after buying an additional 56 shares during the last quarter. Finally, Norway Savings Bank purchased a new stake in General Dynamics during the fourth quarter worth $157,000. Institutional investors own 87.35% of the company’s stock.
General Dynamics Co. (NYSE:GD) opened at 189.6962 on Friday. General Dynamics Co. has a 1-year low of $132.68 and a 1-year high of $194.00. The firm has a 50-day moving average price of $188.97 and a 200-day moving average price of $175.39. The firm has a market capitalization of $57.15 billion, a PE ratio of 19.9156 and a beta of 0.75.
General Dynamics (NYSE:GD) last released its quarterly earnings results on Friday, January 27th. The aerospace company reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.08. The business earned $8.20 billion during the quarter, compared to the consensus estimate of $8.29 billion. General Dynamics had a return on equity of 27.92% and a net margin of 9.42%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.40 EPS. Equities analysts expect that General Dynamics Co. will post $9.75 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 5th. Shareholders of record on Friday, April 7th will be paid a dividend of $0.84 per share. The ex-dividend date is Wednesday, April 5th. This represents a $3.36 dividend on an annualized basis and a yield of 1.79%. This is an increase from General Dynamics’s previous quarterly dividend of $0.76. General Dynamics’s payout ratio is 31.90%.
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A number of equities research analysts have recently weighed in on GD shares. Vetr upgraded General Dynamics from a “hold” rating to a “buy” rating and set a $187.74 target price for the company in a research report on Tuesday, December 27th. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $195.00 price objective for the company in a research note on Tuesday, December 27th. Jefferies Group LLC reaffirmed a “buy” rating and set a $200.00 price objective on shares of General Dynamics in a research note on Tuesday. Finally, Stifel Nicolaus lifted their price objective on General Dynamics from $166.00 to $173.00 and gave the stock a “hold” rating in a research note on Monday, January 30th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. General Dynamics has a consensus rating of “Buy” and an average price target of $185.48.
In other General Dynamics news, VP Mark Lagrand Burns sold 19,075 shares of General Dynamics stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $187.89, for a total transaction of $3,584,001.75. Following the completion of the transaction, the vice president now owns 48,453 shares in the company, valued at approximately $9,103,834.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary T. Barra sold 9,860 shares of General Dynamics stock in a transaction dated Friday, March 24th. The shares were sold at an average price of $188.07, for a total value of $1,854,370.20. Following the transaction, the director now owns 11,636 shares of the company’s stock, valued at approximately $2,188,382.52. The disclosure for this sale can be found here. Insiders have sold a total of 84,160 shares of company stock valued at $15,540,596 in the last quarter. Company insiders own 6.80% of the company’s stock.
About General Dynamics
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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