FineMark National Bank & Trust Increases Stock Position in General Dynamics Co. (NYSE:GD)

FineMark National Bank & Trust lifted its holdings in shares of General Dynamics Co. (NYSE:GD) by 8.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,717 shares of the aerospace company’s stock after buying an additional 428 shares during the period. FineMark National Bank & Trust’s holdings in General Dynamics were worth $1,659,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Gilbert & Cook Inc. grew its position in General Dynamics by 5.1% during the fourth quarter. Gilbert & Cook Inc. now owns 2,509 shares of the aerospace company’s stock worth $652,000 after buying an additional 122 shares during the period. Private Advisor Group LLC boosted its stake in shares of General Dynamics by 5.6% during the 4th quarter. Private Advisor Group LLC now owns 17,723 shares of the aerospace company’s stock worth $4,602,000 after acquiring an additional 939 shares in the last quarter. National Pension Service grew its holdings in shares of General Dynamics by 2.1% in the 4th quarter. National Pension Service now owns 412,768 shares of the aerospace company’s stock worth $107,183,000 after acquiring an additional 8,417 shares during the period. Advantage Trust Co purchased a new position in General Dynamics in the 4th quarter valued at approximately $62,000. Finally, Principal Securities Inc. acquired a new position in General Dynamics during the fourth quarter worth $1,056,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on GD shares. Wells Fargo & Company upped their target price on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Barclays increased their price target on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, BTIG Research assumed coverage on General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective for the company. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $315.06.

General Dynamics Trading Up 1.0 %

Shares of GD stock opened at $297.29 on Friday. General Dynamics Co. has a 1-year low of $214.53 and a 1-year high of $302.75. The firm’s 50-day simple moving average is $290.74 and its 200-day simple moving average is $288.67. The firm has a market cap of $81.57 billion, a P/E ratio of 24.25, a PEG ratio of 1.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The company had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.70 EPS. As a group, equities analysts forecast that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.91%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

General Dynamics 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.