Amalgamated Bank Raises Holdings in General Dynamics Co. (NYSE:GD)

Amalgamated Bank increased its position in shares of General Dynamics Co. (NYSE:GD) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,426 shares of the aerospace company’s stock after buying an additional 726 shares during the period. Amalgamated Bank’s holdings in General Dynamics were worth $14,050,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GD. Modera Wealth Management LLC increased its position in General Dynamics by 0.4% during the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after purchasing an additional 35 shares during the period. Rathbones Group PLC boosted its stake in shares of General Dynamics by 1.8% during the second quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock valued at $587,000 after purchasing an additional 35 shares in the last quarter. Legend Financial Advisors Inc. increased its holdings in General Dynamics by 46.8% during the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after buying an additional 36 shares during the period. Diversified Trust Co raised its stake in General Dynamics by 2.5% in the first quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after buying an additional 36 shares in the last quarter. Finally, Fulton Bank N.A. lifted its holdings in General Dynamics by 1.1% during the first quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock worth $932,000 after buying an additional 37 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

GD has been the topic of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a report on Thursday, July 25th. Robert W. Baird reiterated an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a research note on Tuesday, July 2nd. Wells Fargo & Company increased their price target on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Barclays lifted their price objective on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and an average target price of $315.06.

General Dynamics Price Performance

NYSE GD opened at $302.40 on Thursday. The stock’s fifty day moving average price is $293.92 and its 200 day moving average price is $290.64. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $309.97. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The company has a market cap of $82.97 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 1.64 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced 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 during the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.70 earnings per share. As a group, equities research analysts forecast that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

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.