Narwhal Capital Management Acquires 2,338 Shares of General Dynamics Co. (NYSE:GD)

Narwhal Capital Management increased its holdings in shares of General Dynamics Co. (NYSE:GD) by 6.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 37,524 shares of the aerospace company’s stock after buying an additional 2,338 shares during the period. General Dynamics accounts for approximately 1.0% of Narwhal Capital Management’s portfolio, making the stock its 27th biggest holding. Narwhal Capital Management’s holdings in General Dynamics were worth $11,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in GD. Grove Bank & Trust raised its holdings in General Dynamics by 10.6% in the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after acquiring an additional 34 shares during the last quarter. Modera Wealth Management LLC raised its stake in shares of General Dynamics by 0.4% in the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock worth $2,356,000 after purchasing an additional 35 shares during the last quarter. Rathbones Group PLC lifted its holdings in shares of General Dynamics by 1.8% during 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 in the last quarter. Legend Financial Advisors Inc. boosted its position in shares of General Dynamics by 46.8% during the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after buying an additional 36 shares during the last quarter. Finally, Diversified Trust Co raised its position in General Dynamics by 2.5% in the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after buying an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business’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 transaction of $406,626.00. Following the sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.52% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GD shares. Barclays raised their price target on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Susquehanna raised their price target on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research note on Thursday, October 17th. TD Cowen raised General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Robert W. Baird restated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research report on Tuesday, July 2nd. Finally, Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $334.00 to $317.00 in a research note on Tuesday, October 1st. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $320.18.

General Dynamics Price Performance

Shares of General Dynamics stock opened at $305.92 on Wednesday. The firm has a market cap of $83.93 billion, a PE ratio of 24.95, a PEG ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a 12 month low of $232.29 and a 12 month high of $310.85. The stock has a 50 day moving average of $299.96 and a 200 day moving average of $294.48. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last announced its quarterly earnings results 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 return on equity of 16.74% and a net margin of 7.89%. The business had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter in the prior year, the firm posted $2.70 EPS. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, research analysts expect that General Dynamics Co. will post 14.38 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently announced 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 1.86%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend 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.