NorthCrest Asset Manangement LLC Acquires 1,035 Shares of General Dynamics Co. (NYSE:GD)

NorthCrest Asset Manangement LLC boosted its position in General Dynamics Co. (NYSE:GD) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,094 shares of the aerospace company’s stock after purchasing an additional 1,035 shares during the period. NorthCrest Asset Manangement LLC’s holdings in General Dynamics were worth $18,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of GD. Redmont Wealth Advisors LLC purchased a new stake in General Dynamics in the first quarter worth $25,000. MFA Wealth Advisors LLC lifted its position in General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 58 shares during the last quarter. New Covenant Trust Company N.A. acquired a new stake in General Dynamics in the first quarter valued at approximately $29,000. American Capital Advisory LLC purchased a new position in General Dynamics in the second quarter worth $29,000. Finally, Lowe Wealth Advisors LLC purchased a new position in General Dynamics during the 3rd quarter worth $30,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

GD stock traded up $1.25 on Friday, hitting $302.52. The company’s stock had a trading volume of 1,405,397 shares, compared to its average volume of 1,095,718. General Dynamics Co. has a 1 year low of $236.58 and a 1 year high of $313.11. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The stock has a market cap of $83.00 billion, a price-to-earnings ratio of 24.68, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. The firm has a 50 day moving average of $300.28 and a two-hundred day moving average of $294.60.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The firm had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.04 EPS. Equities analysts predict that General Dynamics Co. will post 14.38 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.88%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Analyst Ratings Changes

Several research analysts recently weighed in on GD shares. Susquehanna lifted their price target on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. Wells Fargo & Company lifted their price target on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research note on Thursday. Sanford C. Bernstein cut their price target on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft cut their price objective on General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Finally, TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $323.88.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.52% 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.