Argent Trust Co Purchases 830 Shares of General Dynamics Co. (NYSE:GD)

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Argent Trust Co grew its position in shares of General Dynamics Co. (NYSE:GD) by 5.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,007 shares of the aerospace company’s stock after buying an additional 830 shares during the quarter. Argent Trust Co’s holdings in General Dynamics were worth $2,117,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of General Dynamics by 2.1% in the fourth quarter. State Street Corp now owns 11,016,742 shares of the aerospace company’s stock valued at $1,942,802,000 after buying an additional 230,550 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in General Dynamics by 2.7% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,857,497 shares of the aerospace company’s stock worth $680,270,000 after acquiring an additional 101,200 shares during the last quarter. Franklin Resources Inc. increased its position in General Dynamics by 0.8% in the 4th quarter. Franklin Resources Inc. now owns 3,805,238 shares of the aerospace company’s stock valued at $671,054,000 after acquiring an additional 29,534 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of General Dynamics by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 3,239,427 shares of the aerospace company’s stock worth $569,943,000 after acquiring an additional 106,411 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of General Dynamics during the fourth quarter valued at approximately $430,864,000. 86.17% of the stock is owned by institutional investors.

Shares of GD stock traded down $0.10 on Friday, reaching $138.57. The company had a trading volume of 884,108 shares, compared to its average volume of 2,504,818. The stock has a market cap of $39.78 billion, a PE ratio of 11.69, a PEG ratio of 2.31 and a beta of 1.01. The company has a 50-day moving average of $133.05 and a 200-day moving average of $162.93. The company has a current ratio of 1.34, a quick ratio of 0.97 and a debt-to-equity ratio of 0.98. General Dynamics Co. has a 12 month low of $100.55 and a 12 month high of $193.76.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $2.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.46 by ($0.03). The firm had revenue of $8.75 billion for the quarter, compared to analyst estimates of $9.25 billion. General Dynamics had a net margin of 8.87% and a return on equity of 25.92%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.56 EPS. Sell-side analysts anticipate that General Dynamics Co. will post 11.17 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 10th were given a $1.10 dividend. The ex-dividend date of this dividend was Wednesday, April 8th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.18%. This is a boost from General Dynamics’s previous quarterly dividend of $1.02. General Dynamics’s dividend payout ratio is currently 36.73%.

General Dynamics declared that its board has authorized a stock buyback program on Wednesday, March 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Several research analysts recently weighed in on the stock. ValuEngine cut shares of General Dynamics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. raised General Dynamics from a “neutral” rating to an “overweight” rating and upped their price target for the company from $210.00 to $225.00 in a research note on Thursday, February 6th. Royal Bank of Canada initiated coverage on General Dynamics in a report on Wednesday. They issued an “outperform” rating and a $157.00 price target on the stock. Cfra raised General Dynamics from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $195.00 to $211.00 in a report on Wednesday, February 12th. Finally, Credit Suisse Group cut their target price on shares of General Dynamics from $191.00 to $153.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $187.15.

General Dynamics Profile

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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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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