Davis Capital Management Acquires 296 Shares of General Dynamics Co. (NYSE:GD)

Davis Capital Management grew its holdings in shares of General Dynamics Co. (NYSE:GD) by 17.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,964 shares of the aerospace company’s stock after purchasing an additional 296 shares during the quarter. Davis Capital Management’s holdings in General Dynamics were worth $594,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Modera Wealth Management LLC boosted its stake in General Dynamics by 0.4% in the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after acquiring an additional 35 shares during the last quarter. Rathbones Group PLC lifted its stake in General Dynamics by 1.8% in the second quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock valued at $587,000 after purchasing an additional 35 shares during the last quarter. Legend Financial Advisors Inc. lifted its stake in General Dynamics by 46.8% in the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after purchasing an additional 36 shares during the last quarter. Diversified Trust Co grew its holdings in General Dynamics by 2.5% during the first quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock valued at $425,000 after purchasing an additional 36 shares during the period. Finally, Fulton Bank N.A. increased its position in General Dynamics by 1.1% in the first quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock worth $932,000 after buying an additional 37 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Performance

Shares of GD opened at $303.92 on Thursday. 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 stock has a 50-day moving average price of $296.90 and a 200-day moving average price of $292.72. The company has a market cap of $83.38 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. General Dynamics Co. has a 12-month low of $214.53 and a 12-month high of $309.97.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. During the same quarter last year, the business posted $2.70 EPS. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, equities analysts forecast that General Dynamics Co. will post 14.52 earnings per share for the current fiscal 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 given a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.87%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GD shares. Barclays increased 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. BTIG Research assumed coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target on the stock. Wells Fargo & Company cut shares of General Dynamics from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $334.00 to $317.00 in a research note on Tuesday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $317.41.

Insider Activity at General Dynamics

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

General Dynamics Company 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.