Cullen Frost Bankers Inc. Has $10.39 Million Position in General Dynamics Corporation $GD

Cullen Frost Bankers Inc. raised its stake in shares of General Dynamics Corporation (NYSE:GD) by 22.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,866 shares of the aerospace company’s stock after buying an additional 5,738 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in General Dynamics were worth $10,391,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. WASHINGTON TRUST Co grew 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 worth $3,212,000 after buying an additional 7,716 shares during the period. Rockland Trust Co. grew its position in shares of 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 purchasing an additional 9,235 shares during the period. Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 528,769 shares during the period. Envestnet Asset Management Inc. grew its position in shares of General Dynamics by 3.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 917,424 shares of the aerospace company’s stock valued at $312,842,000 after purchasing an additional 32,262 shares during the period. Finally, Modern Wealth Management LLC grew its position in shares of 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 purchasing an additional 3,271 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at General Dynamics

In related news, EVP Mark Lagrand Burns sold 36,480 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total value of $12,596,179.20. Following the sale, the executive vice president owned 38,975 shares in the company, valued at approximately $13,457,677.75. This represents a 48.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Marguerite Amy Gilliland sold 3,819 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $353.50, for a total transaction of $1,350,016.50. Following the completion of the transaction, the executive vice president directly owned 44,767 shares in the company, valued at approximately $15,825,134.50. This represents a 7.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 119,600 shares of company stock worth $41,650,580. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GD shares. Morgan Stanley boosted their price objective on General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. UBS Group decreased their price objective on General Dynamics from $385.00 to $371.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. JPMorgan Chase & Co. boosted their price objective on General Dynamics from $385.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Wells Fargo & Company started coverage on General Dynamics in a research report on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 price objective for the company. Finally, BNP Paribas Exane decreased their price objective on General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a research report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.40.

General Dynamics Trading Down 0.2%

Shares of General Dynamics stock opened at $339.54 on Thursday. General Dynamics Corporation has a 12-month low of $268.10 and a 12-month high of $369.70. The stock has a market cap of $91.82 billion, a P/E ratio of 21.37, a P/E/G ratio of 2.11 and a beta of 0.34. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $342.29 and its 200-day moving average is $346.54.

General Dynamics (NYSE:GD) last announced its quarterly earnings data 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. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The company had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $12.70 billion. During the same quarter in the prior year, the business posted $3.66 EPS. The business’s revenue was up 10.3% compared to the same quarter last year. Equities research analysts predict that General Dynamics Corporation will post 16.62 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 10th were paid a $1.59 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $1.50. The ex-dividend date was Friday, April 10th. This represents a $6.36 dividend on an annualized basis and a yield of 1.9%. General Dynamics’s dividend payout ratio (DPR) is currently 40.03%.

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.