TCTC Holdings LLC Purchases 788 Shares of General Dynamics Corporation (NYSE:GD)

TCTC Holdings LLC boosted its position in General Dynamics Corporation (NYSE:GD) by 8.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 10,306 shares of the aerospace company’s stock after acquiring an additional 788 shares during the period. TCTC Holdings LLC’s holdings in General Dynamics were worth $2,809,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meeder Advisory Services Inc. raised its stake in General Dynamics by 4.2% in the 1st quarter. Meeder Advisory Services Inc. now owns 4,665 shares of the aerospace company’s stock valued at $1,272,000 after acquiring an additional 188 shares during the period. Foundations Investment Advisors LLC raised its stake in General Dynamics by 5.9% in the 1st quarter. Foundations Investment Advisors LLC now owns 2,529 shares of the aerospace company’s stock valued at $689,000 after acquiring an additional 141 shares during the period. Sheaff Brock Investment Advisors LLC raised its stake in General Dynamics by 2.2% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 25,320 shares of the aerospace company’s stock valued at $6,902,000 after acquiring an additional 549 shares during the period. Shoker Investment Counsel Inc. raised its stake in General Dynamics by 2.7% in the 1st quarter. Shoker Investment Counsel Inc. now owns 8,503 shares of the aerospace company’s stock valued at $2,318,000 after acquiring an additional 221 shares during the period. Finally, Schulhoff & Co. Inc. raised its stake in General Dynamics by 0.7% in the 1st quarter. Schulhoff & Co. Inc. now owns 11,619 shares of the aerospace company’s stock valued at $3,167,000 after acquiring an additional 81 shares during the period. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Down 0.3%

Shares of GD opened at $313.08 on Tuesday. The firm has a market cap of $84.22 billion, a P/E ratio of 21.01, a P/E/G ratio of 1.98 and a beta of 0.46. The stock has a 50 day simple moving average of $288.30 and a two-hundred day simple moving average of $272.68. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $322.50.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.27. The business had revenue of $13.04 billion during the quarter, compared to analyst estimates of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%. General Dynamics’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.26 earnings per share. On average, analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.92%. The ex-dividend date is Thursday, July 3rd. General Dynamics’s dividend payout ratio is currently 40.27%.

Insider Transactions at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 7,639 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $280.44, for a total value of $2,142,281.16. Following the completion of the sale, the chief executive officer owned 769,607 shares in the company, valued at approximately $215,828,587.08. The trade was a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on GD. Wolfe Research upgraded General Dynamics from a “peer perform” rating to an “outperform” rating and set a $360.00 price objective on the stock in a research note on Thursday, July 24th. Citigroup lifted their target price on General Dynamics from $348.00 to $368.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Susquehanna lifted their target price on General Dynamics from $315.00 to $365.00 and gave the company a “positive” rating in a report on Thursday, July 24th. Sanford C. Bernstein set a $314.00 target price on General Dynamics and gave the company a “market perform” rating in a report on Monday, July 14th. Finally, Jefferies Financial Group set a $325.00 target price on General Dynamics and gave the company a “hold” rating in a report on Wednesday, July 9th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $312.17.

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.