Commerce Bank increased its position in General Dynamics Co. (NYSE:GD) by 9.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,919 shares of the aerospace company’s stock after acquiring an additional 2,900 shares during the period. Commerce Bank’s holdings in General Dynamics were worth $4,620,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in General Dynamics during the fourth quarter valued at about $430,864,000. Cullen Capital Management LLC purchased a new stake in shares of General Dynamics in the first quarter worth about $70,121,000. Schafer Cullen Capital Management Inc purchased a new stake in shares of General Dynamics in the first quarter worth about $70,121,000. Renaissance Technologies LLC purchased a new stake in shares of General Dynamics in the fourth quarter worth about $64,138,000. Finally, Stifel Financial Corp lifted its position in shares of General Dynamics by 65.1% in the fourth quarter. Stifel Financial Corp now owns 803,107 shares of the aerospace company’s stock worth $141,585,000 after buying an additional 316,711 shares in the last quarter. 86.17% of the stock is owned by institutional investors.
A number of equities research analysts recently commented on GD shares. Seaport Global Securities started coverage on General Dynamics in a research report on Tuesday. They issued a “buy” rating and a $188.00 target price on the stock. Royal Bank of Canada assumed coverage on General Dynamics in a research note on Wednesday. They set an “outperform” rating and a $157.00 price objective on the stock. Cfra raised General Dynamics from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $195.00 to $211.00 in a research note on Wednesday, February 12th. Morgan Stanley boosted their price objective on General Dynamics from $146.00 to $151.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 14th. Finally, Argus reduced their price objective on General Dynamics from $199.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company’s stock. General Dynamics presently has a consensus rating of “Buy” and a consensus target price of $187.15.
Shares of NYSE:GD opened at $138.57 on Friday. General Dynamics Co. has a 52-week low of $100.55 and a 52-week high of $193.76. The stock has a market cap of $39.78 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 2.31 and a beta of 1.01. The business’s 50 day moving average is $133.05 and its 200 day moving average is $162.93. The company has a quick ratio of 0.97, a current ratio of 1.34 and a debt-to-equity ratio of 0.98.
General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $2.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.46 by ($0.03). General Dynamics had a return on equity of 25.92% and a net margin of 8.87%. The firm had revenue of $8.75 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period last year, the company earned $2.56 EPS. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that General Dynamics Co. will post 11.17 EPS for the current fiscal year.
General Dynamics declared that its Board of Directors has initiated a stock repurchase program on Wednesday, March 4th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 10th were paid a $1.10 dividend. The ex-dividend date was Wednesday, April 8th. This represents a $4.40 annualized dividend and a yield of 3.18%. This is a boost from General Dynamics’s previous quarterly dividend of $1.02. General Dynamics’s dividend payout ratio is 36.73%.
General Dynamics Company Profile
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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