Eastern Bank Acquires Shares of 1,479 General Dynamics Co. (NYSE:GD)

Eastern Bank bought a new position in shares of General Dynamics Co. (NYSE:GD) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,479 shares of the aerospace company’s stock, valued at approximately $447,000.

Other hedge funds also recently modified their holdings of the company. Banque Cantonale Vaudoise boosted its position in shares of General Dynamics by 1,053.8% during the 1st quarter. Banque Cantonale Vaudoise now owns 150 shares of the aerospace company’s stock worth $42,000 after acquiring an additional 137 shares in the last quarter. Brookstone Capital Management increased its stake in shares of General Dynamics by 3.1% in the 1st quarter. Brookstone Capital Management now owns 21,368 shares of the aerospace company’s stock valued at $6,036,000 after purchasing an additional 651 shares during the last quarter. Key Client Fiduciary Advisors LLC acquired a new position in shares of General Dynamics during the 1st quarter worth $221,000. Aspiriant LLC lifted its position in shares of General Dynamics by 6.2% during the 1st quarter. Aspiriant LLC now owns 4,969 shares of the aerospace company’s stock worth $1,404,000 after buying an additional 288 shares during the last quarter. Finally, Revolve Wealth Partners LLC boosted its stake in General Dynamics by 5.7% in the first quarter. Revolve Wealth Partners LLC now owns 878 shares of the aerospace company’s stock valued at $248,000 after buying an additional 47 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GD. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Barclays raised their target price on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a report on Thursday, July 25th. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $320.18.

Insider Activity

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were 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 directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.52% of the stock is currently owned by company insiders.

General Dynamics Stock Performance

Shares of GD opened at $304.40 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 firm’s fifty day simple moving average is $300.17 and its two-hundred day simple moving average is $294.55. General Dynamics Co. has a 12 month low of $232.29 and a 12 month high of $313.11. The stock has a market capitalization of $83.52 billion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS 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 business had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter in the previous year, the company earned $2.70 EPS. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. As a group, analysts predict that General Dynamics Co. will post 14.38 EPS for the current year.

General Dynamics Announces Dividend

The business 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. This represents a $5.68 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is 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.