National Asset Management Inc. lifted its holdings in shares of General Dynamics Co. (NYSE:GD) by 41.9% in the 1st quarter, HoldingsChannel reports. The fund owned 8,495 shares of the aerospace company’s stock after purchasing an additional 2,510 shares during the period. National Asset Management Inc.’s holdings in General Dynamics were worth $1,125,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Princeton Global Asset Management LLC bought a new stake in shares of General Dynamics during the fourth quarter worth about $25,000. Anderson Fisher LLC bought a new stake in shares of General Dynamics during the fourth quarter worth about $31,000. Solstein Capital LLC bought a new stake in shares of General Dynamics during the fourth quarter worth about $31,000. Key Financial Inc bought a new stake in shares of General Dynamics during the first quarter worth about $31,000. Finally, Wealthcare Advisory Partners LLC boosted its holdings in General Dynamics by 30.2% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 263 shares of the aerospace company’s stock worth $46,000 after purchasing an additional 61 shares during the last quarter. 86.17% of the stock is owned by institutional investors.
Shares of GD stock traded down $0.10 during trading on Friday, reaching $138.57. 884,108 shares of the company’s stock traded hands, compared to its average volume of 2,504,818. The company has a market capitalization of $39.78 billion, a P/E ratio of 11.69, a PEG ratio of 2.31 and a beta of 1.01. The company has a current ratio of 1.34, a quick ratio of 0.97 and a debt-to-equity ratio of 0.98. The firm’s 50-day moving average is $133.05 and its 200 day moving average is $162.93. General Dynamics Co. has a 1 year low of $100.55 and a 1 year high of $193.76.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 10th were paid a dividend of $1.10 per share. This is a boost from General Dynamics’s previous quarterly dividend of $1.02. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Wednesday, April 8th. General Dynamics’s dividend payout ratio is presently 36.73%.
General Dynamics announced that its board has authorized a share buyback program on Wednesday, March 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
Several research analysts recently weighed in on GD shares. Cfra upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $195.00 to $211.00 in a report on Wednesday, February 12th. Susquehanna Bancshares cut their price target on shares of General Dynamics from $179.00 to $167.00 and set a “positive” rating on the stock in a report on Thursday, April 30th. JPMorgan Chase & Co. upgraded shares of General Dynamics from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $210.00 to $225.00 in a report on Thursday, February 6th. Royal Bank of Canada started coverage on shares of General Dynamics in a report on Wednesday. They set an “outperform” rating and a $157.00 price target on the stock. Finally, Citigroup upgraded shares of General Dynamics from a “neutral” rating to a “buy” rating and cut their price target for the stock from $185.00 to $170.00 in a report on Monday, April 20th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $187.15.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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