Cullen Frost Bankers Inc. Buys 147 Shares of General Dynamics Corporation (NYSE:GD)

Cullen Frost Bankers Inc. lifted its stake in shares of General Dynamics Corporation (NYSE:GD) by 5.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,865 shares of the aerospace company’s stock after purchasing an additional 147 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in General Dynamics were worth $781,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Securities Inc. boosted its holdings in shares of General Dynamics by 0.5% in the 1st quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company’s stock worth $2,161,000 after buying an additional 37 shares during the last quarter. Sharpepoint LLC lifted its position in General Dynamics by 4.2% during the first quarter. Sharpepoint LLC now owns 917 shares of the aerospace company’s stock valued at $249,000 after buying an additional 37 shares during the period. 1858 Wealth Management LLC raised its position in General Dynamics by 1.2% in the 1st quarter. 1858 Wealth Management LLC now owns 3,224 shares of the aerospace company’s stock worth $879,000 after buying an additional 38 shares during the last quarter. Keystone Financial Services grew its stake in shares of General Dynamics by 1.6% during the 1st quarter. Keystone Financial Services now owns 2,421 shares of the aerospace company’s stock valued at $660,000 after purchasing an additional 38 shares during the period. Finally, Pure Financial Advisors LLC lifted its holdings in General Dynamics by 0.7% in the 1st quarter. Pure Financial Advisors LLC now owns 6,025 shares of the aerospace company’s stock worth $1,642,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

In other news, CEO Phebe N. Novakovic sold 7,639 shares of General Dynamics stock in a transaction on Monday, June 16th. The stock was sold at an average price of $280.44, for a total transaction of $2,142,281.16. Following the transaction, the chief executive officer directly owned 769,607 shares in the company, valued at approximately $215,828,587.08. This trade represents a 0.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is owned by insiders.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $300.33 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The firm has a market cap of $80.61 billion, a P/E ratio of 20.83, a P/E/G ratio of 2.00 and a beta of 0.46. The stock’s fifty day moving average price is $283.92 and its 200-day moving average price is $270.29. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $316.90.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, beating the consensus estimate of $3.43 by $0.23. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.92 billion. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.88 EPS. On average, equities research analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Thursday, July 3rd. General Dynamics’s dividend payout ratio is currently 41.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GD shares. Wells Fargo & Company dropped their price target on General Dynamics from $261.00 to $236.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Citigroup reaffirmed a “buy” rating and issued a $348.00 price objective (up from $330.00) on shares of General Dynamics in a research note on Monday. Argus set a $295.00 price objective on General Dynamics in a research note on Tuesday, May 6th. TD Securities increased their price target on General Dynamics from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. Finally, Susquehanna raised their target price on General Dynamics from $300.00 to $315.00 and gave the company a “positive” rating in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $294.53.

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.