General Dynamics Co. (NYSE:GD) Holdings Increased by Davis Capital Management

Davis Capital Management grew its stake in shares of General Dynamics Co. (NYSE:GD) by 14.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,668 shares of the aerospace company’s stock after buying an additional 213 shares during the quarter. Davis Capital Management’s holdings in General Dynamics were worth $480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GD. Transcend Capital Advisors LLC raised its holdings in shares of General Dynamics by 4.8% in the 2nd quarter. Transcend Capital Advisors LLC now owns 9,993 shares of the aerospace company’s stock worth $2,899,000 after purchasing an additional 458 shares in the last quarter. Bank of New Hampshire raised its holdings in shares of General Dynamics by 4.6% in the 2nd quarter. Bank of New Hampshire now owns 1,802 shares of the aerospace company’s stock worth $523,000 after purchasing an additional 80 shares in the last quarter. Bright Futures Wealth Management LLC. bought a new stake in shares of General Dynamics in the 1st quarter worth approximately $1,332,000. OMC Financial Services LTD bought a new stake in shares of General Dynamics in the 1st quarter worth approximately $670,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of General Dynamics by 83.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the aerospace company’s stock worth $376,000 after purchasing an additional 596 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP William A. Moss sold 21,050 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $294.85, for a total transaction of $6,206,592.50. Following the completion of the transaction, the vice president now directly owns 16,624 shares in the company, valued at approximately $4,901,586.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Kimberly A. Kuryea sold 13,344 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the completion of the transaction, the chief financial officer now directly owns 79,255 shares in the company, valued at approximately $23,630,670.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP William A. Moss sold 21,050 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $294.85, for a total transaction of $6,206,592.50. Following the completion of the transaction, the vice president now owns 16,624 shares of the company’s stock, valued at approximately $4,901,586.40. The disclosure for this sale can be found here. In the last three months, insiders sold 52,499 shares of company stock valued at $15,554,941. Company insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Barclays boosted their target price on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Jefferies Financial Group upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and boosted their price target for the company from $305.00 to $335.00 in a report on Monday, April 29th. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a report on Thursday, July 25th. Susquehanna boosted their price target on shares of General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a report on Friday, April 12th. Finally, Argus boosted their price target on shares of General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a report on Monday, April 29th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $312.17.

General Dynamics Stock Down 0.4 %

GD stock traded down $1.06 during trading hours on Friday, hitting $292.39. The company’s stock had a trading volume of 990,893 shares, compared to its average volume of 1,197,340. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $80.34 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 1.68 and a beta of 0.60. General Dynamics Co. has a 12 month low of $214.53 and a 12 month high of $302.75. The stock has a 50 day moving average price of $292.16 and a two-hundred day moving average price of $284.05.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). The business had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.70 earnings per share. On average, equities research analysts expect that General Dynamics Co. will post 14.5 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Friday, July 5th. General Dynamics’s dividend payout ratio is currently 46.33%.

General Dynamics Company Profile

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.