National Bank of Canada FI Increases Stock Position in General Dynamics Co. (NYSE:GD)

National Bank of Canada FI increased its stake in shares of General Dynamics Co. (NYSE:GD) by 15.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,057 shares of the aerospace company’s stock after purchasing an additional 11,410 shares during the quarter. National Bank of Canada FI’s holdings in General Dynamics were worth $25,052,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GD. Richardson Financial Services Inc. acquired a new stake in shares of General Dynamics during the fourth quarter worth $25,000. Redmont Wealth Advisors LLC acquired a new stake in General Dynamics in the first quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in General Dynamics in the first quarter valued at $29,000. New Covenant Trust Company N.A. acquired a new stake in General Dynamics in the first quarter valued at $29,000. Finally, American Capital Advisory LLC acquired a new stake in General Dynamics in the second quarter valued at $29,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GD has been the subject of a number of recent analyst reports. Robert W. Baird reissued an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Wells Fargo & Company lifted their price target on General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. BTIG Research initiated coverage on General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target for the company. Barclays lifted their price target on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, General Dynamics has a consensus rating of “Moderate Buy” and an average target price of $315.06.

General Dynamics Price Performance

Shares of NYSE GD opened at $292.96 on Friday. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $302.75. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $80.38 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. The business has a 50 day simple moving average of $290.80 and a 200-day simple moving average of $288.84.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The company had revenue of $11.98 billion for 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%. General Dynamics’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.70 earnings per share. As a group, equities research analysts expect that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.94%. General Dynamics’s payout ratio is currently 46.33%.

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.