Garner Asset Management Corp Grows Stock Holdings in General Dynamics Co. (NYSE:GD)

Garner Asset Management Corp increased its stake in General Dynamics Co. (NYSE:GD) by 3.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,149 shares of the aerospace company’s stock after purchasing an additional 138 shares during the quarter. Garner Asset Management Corp’s holdings in General Dynamics were worth $1,204,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Gladstone Capital Management LLP bought a new stake in shares of General Dynamics in the fourth quarter worth $3,869,000. SWP Financial LLC bought a new stake in shares of General Dynamics during the 4th quarter valued at about $227,000. Sanibel Captiva Trust Company Inc. purchased a new stake in shares of General Dynamics during the 4th quarter valued at about $28,107,000. Evercore Wealth Management LLC lifted its stake in shares of General Dynamics by 1.5% in the 4th quarter. Evercore Wealth Management LLC now owns 5,355 shares of the aerospace company’s stock worth $1,391,000 after purchasing an additional 78 shares during the period. Finally, TD Asset Management Inc grew its position in General Dynamics by 7.2% during the fourth quarter. TD Asset Management Inc now owns 80,280 shares of the aerospace company’s stock valued at $20,846,000 after buying an additional 5,405 shares during the period. Institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business’s 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 completion of the sale, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.52% of the stock is currently owned by insiders.

General Dynamics Price Performance

Shares of General Dynamics stock opened at $302.40 on Thursday. The stock has a 50 day moving average price of $293.92 and a 200-day moving average price of $290.64. General Dynamics Co. has a one year low of $214.53 and a one year high of $309.97. The stock has a market cap of $82.97 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The firm had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company’s revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.70 EPS. Equities analysts expect that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is presently 46.33%.

Wall Street Analyst Weigh In

GD has been the subject of a number of analyst reports. Sanford C. Bernstein upped their price target on General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $293.00 to $345.00 in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Robert W. Baird restated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research note on Tuesday, July 2nd. Finally, BTIG Research began coverage on General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $315.06.

About General Dynamics

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.