General Dynamics Co. (NYSE:GD) Stake Lessened by Israel Discount Bank of New York

Israel Discount Bank of New York lessened its stake in General Dynamics Co. (NYSE:GD) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,222 shares of the aerospace company’s stock after selling 74 shares during the period. Israel Discount Bank of New York’s holdings in General Dynamics were worth $577,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of General Dynamics by 0.6% during the third quarter. Vanguard Group Inc. now owns 22,423,961 shares of the aerospace company’s stock worth $4,955,023,000 after acquiring an additional 133,061 shares during the last quarter. Wellington Management Group LLP lifted its holdings in General Dynamics by 12.0% in the 3rd quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock valued at $3,615,185,000 after acquiring an additional 1,755,276 shares during the last quarter. Sanders Capital LLC lifted its holdings in General Dynamics by 0.4% in the 3rd quarter. Sanders Capital LLC now owns 4,017,057 shares of the aerospace company’s stock valued at $887,649,000 after acquiring an additional 17,061 shares during the last quarter. FMR LLC lifted its holdings in General Dynamics by 13.7% in the 3rd quarter. FMR LLC now owns 2,293,269 shares of the aerospace company’s stock valued at $506,744,000 after acquiring an additional 275,947 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in General Dynamics by 4.5% in the 3rd quarter. Northern Trust Corp now owns 2,258,362 shares of the aerospace company’s stock valued at $499,030,000 after acquiring an additional 97,789 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

Shares of GD stock traded up $3.33 on Monday, reaching $287.74. The company’s stock had a trading volume of 979,389 shares, compared to its average volume of 1,112,475. The company has a market capitalization of $78.94 billion, a P/E ratio of 23.61, a PEG ratio of 1.77 and a beta of 0.68. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. General Dynamics Co. has a 12-month low of $202.35 and a 12-month high of $296.50. The stock’s 50 day simple moving average is $280.86 and its 200-day simple moving average is $262.05.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The company had revenue of $10.73 billion during the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter last year, the business earned $2.64 earnings per share. The business’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities analysts predict that General Dynamics Co. will post 14.57 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be paid a dividend of $1.42 per share. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.97%. General Dynamics’s payout ratio is 46.33%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Citigroup upped their price objective on shares of General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday. Argus increased their price objective on General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Monday. JPMorgan Chase & Co. upped their target price on General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research report on Thursday. Wells Fargo & Company increased their price objective on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Finally, UBS Group increased their price objective on General Dynamics from $286.00 to $296.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $297.06.

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.