Garner Asset Management Corp Raises Stock Holdings in General Dynamics Co. (NYSE:GD)

Garner Asset Management Corp raised its position in shares of General Dynamics Co. (NYSE:GD) by 3.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,149 shares of the aerospace company’s stock after purchasing an additional 138 shares during the quarter. Garner Asset Management Corp’s holdings in General Dynamics were worth $1,204,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Gladstone Capital Management LLP purchased a new stake in General Dynamics in the fourth quarter valued at approximately $3,869,000. SWP Financial LLC acquired a new stake in General Dynamics during the fourth quarter worth about $227,000. Sanibel Captiva Trust Company Inc. acquired a new position in General Dynamics in the fourth quarter valued at approximately $28,107,000. Evercore Wealth Management LLC lifted its stake in shares of General Dynamics by 1.5% in the 4th quarter. Evercore Wealth Management LLC now owns 5,355 shares of the aerospace company’s stock valued at $1,391,000 after purchasing an additional 78 shares during the period. Finally, TD Asset Management Inc boosted its holdings in General Dynamics by 7.2% during the fourth quarter. TD Asset Management Inc now owns 80,280 shares of the aerospace company’s stock worth $20,846,000 after buying an additional 5,405 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GD has been the topic of several recent analyst reports. Barclays increased their target price on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Sanford C. Bernstein increased their target price on General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a report on Thursday, July 25th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and an average target price of $315.06.

Insider Buying and Selling

In other news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.52% of the stock is owned by corporate insiders.

General Dynamics Stock Down 0.5 %

Shares of NYSE GD opened at $302.40 on Thursday. The company has a market capitalization of $82.97 billion, a P/E ratio of 24.67, a P/E/G 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. The company has a 50 day simple moving average of $293.92 and a 200-day simple moving average of $290.64. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $309.97.

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

General Dynamics Announces Dividend

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 paid 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 1.88%. General Dynamics’s payout ratio is presently 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.