CX Institutional Boosts Stock Position in General Dynamics Co. (NYSE:GD)

CX Institutional grew its stake in shares of General Dynamics Co. (NYSE:GD) by 28.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,868 shares of the aerospace company’s stock after acquiring an additional 3,091 shares during the period. CX Institutional’s holdings in General Dynamics were worth $3,780,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GD. Capital & Planning LLC raised its position in shares of General Dynamics by 9.8% in the fourth quarter. Capital & Planning LLC now owns 1,538 shares of the aerospace company’s stock worth $405,000 after buying an additional 137 shares in the last quarter. Brighton Jones LLC raised its position in shares of General Dynamics by 16.9% in the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company’s stock worth $760,000 after buying an additional 417 shares in the last quarter. Empowered Funds LLC raised its position in shares of General Dynamics by 15.3% in the fourth quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock worth $2,553,000 after buying an additional 1,283 shares in the last quarter. Fishman Jay A Ltd. MI raised its position in shares of General Dynamics by 0.7% in the fourth quarter. Fishman Jay A Ltd. MI now owns 25,429 shares of the aerospace company’s stock worth $6,700,000 after buying an additional 189 shares in the last quarter. Finally, Portfolio Design Labs LLC raised its position in shares of General Dynamics by 19.8% in the fourth quarter. Portfolio Design Labs LLC now owns 6,443 shares of the aerospace company’s stock worth $1,698,000 after buying an additional 1,067 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Down 0.6%

NYSE GD opened at $275.83 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. The stock has a market capitalization of $74.03 billion, a PE ratio of 20.22, a PEG ratio of 1.69 and a beta of 0.46. General Dynamics Co. has a 1 year low of $239.20 and a 1 year high of $316.90. The business’s 50-day moving average is $273.40 and its 200 day moving average is $266.64.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.23. The company had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.92 billion. General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. General Dynamics’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the firm earned $2.88 earnings per share. Sell-side analysts forecast that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 annualized dividend and a yield of 2.18%. General Dynamics’s payout ratio is 41.61%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GD shares. Citigroup reduced their target price on General Dynamics from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. UBS Group increased their target price on General Dynamics from $268.00 to $279.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. TD Securities increased their target price on General Dynamics from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Morgan Stanley reduced their target price on General Dynamics from $305.00 to $300.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Finally, BTIG Research cut General Dynamics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, General Dynamics has a consensus rating of “Hold” and an average target price of $293.00.

About General Dynamics

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.