Texas Bank & Trust Co Acquires New Holdings in General Dynamics Co. (NYSE:GD)

Texas Bank & Trust Co bought a new stake in shares of General Dynamics Co. (NYSE:GD) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 2,682 shares of the aerospace company’s stock, valued at approximately $707,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Teza Capital Management LLC acquired a new position in shares of General Dynamics during the 4th quarter worth approximately $3,772,000. Tidal Investments LLC grew its holdings in General Dynamics by 21.9% during the 4th quarter. Tidal Investments LLC now owns 96,991 shares of the aerospace company’s stock valued at $25,556,000 after buying an additional 17,423 shares during the last quarter. State of Wyoming purchased a new position in General Dynamics during the fourth quarter worth $373,000. Strive Asset Management LLC acquired a new position in shares of General Dynamics in the fourth quarter worth $602,000. Finally, Toronto Dominion Bank boosted its stake in shares of General Dynamics by 8.4% during the fourth quarter. Toronto Dominion Bank now owns 134,806 shares of the aerospace company’s stock valued at $35,520,000 after acquiring an additional 10,459 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Trading Up 0.7%

NYSE GD opened at $280.54 on Friday. The firm has a market capitalization of $75.29 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.69 and a beta of 0.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. General Dynamics Co. has a one year low of $239.20 and a one year high of $316.90. The company’s 50 day moving average price is $269.70 and its 200 day moving average price is $268.81.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.23. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. The business had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.92 billion. During the same quarter last year, the firm posted $2.88 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, sell-side analysts predict that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 11th were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.14%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date was Friday, April 11th. General Dynamics’s payout ratio is presently 41.61%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Morgan Stanley cut their price objective on shares of General Dynamics from $305.00 to $300.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Citigroup reduced their price objective on shares of General Dynamics from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Barclays lowered their target price on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, Cowen reissued a “buy” rating on shares of General Dynamics in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $293.00.

Insider Buying and Selling

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the sale, the senior vice president now directly owns 45,192 shares of the company’s stock, valued at approximately $12,297,195.12. This represents a 37.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.

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.