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

National Bank of Canada FI raised its stake in shares of General Dynamics Co. (NYSE:GD) by 125.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 351,429 shares of the aerospace company’s stock after buying an additional 195,476 shares during the period. National Bank of Canada FI’s holdings in General Dynamics were worth $92,598,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its position in General Dynamics by 9.4% in the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock worth $3,307,612,000 after buying an additional 943,247 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in General Dynamics in the 4th quarter worth approximately $197,238,000. Vanguard Group Inc. raised its stake in General Dynamics by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company’s stock worth $6,265,813,000 after acquiring an additional 706,317 shares during the period. Geode Capital Management LLC lifted its holdings in General Dynamics by 13.0% during the third quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock valued at $1,674,998,000 after purchasing an additional 638,342 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of General Dynamics by 117.0% in the third quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company’s stock worth $259,469,000 after purchasing an additional 463,000 shares during the period. 86.14% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Laura J. Schumacher sold 1,796 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the completion of the sale, the director now owns 11,175 shares in the company, valued at approximately $2,857,224. The trade was a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the transaction, the senior vice president now directly owns 45,192 shares in the company, valued at approximately $12,297,195.12. This trade represents a 37.88 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

General Dynamics Price Performance

Shares of General Dynamics stock opened at $273.93 on Wednesday. The stock has a 50 day moving average price of $258.90 and a 200-day moving average price of $276.19. General Dynamics Co. has a one year low of $239.87 and a one year high of $316.90. The stock has a market cap of $74.06 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. Equities analysts expect that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics announced that its Board of Directors has authorized a stock buyback program on Wednesday, December 4th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Friday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s payout ratio is 43.99%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of General Dynamics from $244.00 to $261.00 and gave the company an “equal weight” rating in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. JPMorgan Chase & Co. decreased their target price on General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Wolfe Research cut General Dynamics from an “outperform” rating to a “peer perform” rating in a report on Wednesday, December 11th. Finally, TD Cowen cut their price objective on shares of General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $297.71.

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.