Parsons Capital Management Inc. RI Grows Stock Position in General Dynamics Co. (NYSE:GD)

Parsons Capital Management Inc. RI boosted its stake in shares of General Dynamics Co. (NYSE:GD) by 13.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 907 shares of the aerospace company’s stock after buying an additional 106 shares during the period. Parsons Capital Management Inc. RI’s holdings in General Dynamics were worth $256,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GD. Pacer Advisors Inc. increased its stake in General Dynamics by 99.3% in the fourth quarter. Pacer Advisors Inc. now owns 29,045 shares of the aerospace company’s stock worth $7,542,000 after purchasing an additional 14,468 shares during the period. Caisse DE Depot ET Placement DU Quebec purchased a new stake in General Dynamics in the third quarter worth $16,077,000. Moreno Evelyn V increased its stake in General Dynamics by 17.1% in the third quarter. Moreno Evelyn V now owns 27,310 shares of the aerospace company’s stock worth $6,035,000 after purchasing an additional 3,991 shares during the period. Clough Capital Partners L P purchased a new stake in General Dynamics in the third quarter worth $26,868,000. Finally, Victory Capital Management Inc. increased its stake in General Dynamics by 57.7% in the third quarter. Victory Capital Management Inc. now owns 326,121 shares of the aerospace company’s stock worth $72,063,000 after purchasing an additional 119,264 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

Shares of General Dynamics stock traded down $0.49 on Friday, reaching $284.41. 1,244,205 shares of the stock were exchanged, compared to its average volume of 1,231,567. The company has a quick ratio of 0.92, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. General Dynamics Co. has a twelve month low of $202.35 and a twelve month high of $296.50. The firm has a market capitalization of $78.03 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 1.81 and a beta of 0.68. The business has a 50 day moving average price of $280.86 and a two-hundred day moving average price of $262.05.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($0.01). The company had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.64 earnings per share. Analysts anticipate that General Dynamics Co. will post 14.57 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be given a dividend of $1.42 per share. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a yield of 2.00%. The ex-dividend date is Thursday, April 11th. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GD shares. Wells Fargo & Company raised their price target on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Susquehanna raised their price target on General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research note on Friday, April 12th. UBS Group raised their price target on General Dynamics from $286.00 to $296.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Royal Bank of Canada cut their price target on General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Barclays raised their price objective on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $293.43.

Insider Activity at General Dynamics

In other news, CEO Phebe N. Novakovic sold 32,355 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $264.31, for a total value of $8,551,750.05. Following the completion of the sale, the chief executive officer now directly owns 773,977 shares in the company, valued at $204,569,860.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.52% of the stock is owned by company insiders.

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.