Czech National Bank Grows Holdings in General Dynamics Co. (NYSE:GD)

Czech National Bank boosted its holdings in shares of General Dynamics Co. (NYSE:GD) by 21.3% in the third quarter, HoldingsChannel reports. The fund owned 52,532 shares of the aerospace company’s stock after acquiring an additional 9,208 shares during the period. Czech National Bank’s holdings in General Dynamics were worth $15,875,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Modera Wealth Management LLC raised its stake in General Dynamics by 0.4% during the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after buying an additional 35 shares during the last quarter. Rathbones Group PLC boosted its stake in General Dynamics by 1.8% in the 2nd quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock worth $587,000 after purchasing an additional 35 shares in the last quarter. Legend Financial Advisors Inc. grew its position in General Dynamics by 46.8% during the 1st 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 increased its stake in General Dynamics by 2.5% during the 1st 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 in the last quarter. Finally, Fulton Bank N.A. lifted its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GD shares. Barclays boosted their price objective on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut their target price on General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a research note on Thursday. BTIG Research initiated coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target on the stock. Finally, Robert W. Baird restated an “outperform” rating and issued a $345.00 price target on shares of General Dynamics in a research note on Tuesday, July 2nd. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and an average target price of $317.06.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the company’s 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 sale, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.52% of the company’s stock.

General Dynamics Price Performance

NYSE:GD traded up $1.05 on Friday, reaching $300.66. 877,409 shares of the company’s stock traded hands, compared to its average volume of 1,101,439. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The stock has a 50-day simple moving average of $297.27 and a 200-day simple moving average of $292.93. The firm has a market cap of $82.49 billion, a PE ratio of 24.52, a P/E/G 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 results 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 business had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. General Dynamics’s revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.70 earnings per share. Equities research analysts forecast 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 given 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 dividend yield of 1.89%. General Dynamics’s payout ratio is 46.33%.

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.