Narwhal Capital Management Has $12.44 Million Stake in General Dynamics Corporation (NYSE:GD)

Narwhal Capital Management lifted its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 17.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,628 shares of the aerospace company's stock after purchasing an additional 6,722 shares during the period. General Dynamics accounts for 1.1% of Narwhal Capital Management's portfolio, making the stock its 24th largest position. Narwhal Capital Management's holdings in General Dynamics were worth $12,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of GD. Hickory Point Bank & Trust bought a new position in shares of General Dynamics in the 4th quarter valued at about $692,000. Jones Financial Companies Lllp boosted its stake in General Dynamics by 45.4% in the fourth quarter. Jones Financial Companies Lllp now owns 80,565 shares of the aerospace company's stock valued at $21,228,000 after acquiring an additional 25,144 shares during the last quarter. U S Global Investors Inc. grew its holdings in General Dynamics by 18.6% during the 4th quarter. U S Global Investors Inc. now owns 79,450 shares of the aerospace company's stock worth $20,934,000 after acquiring an additional 12,453 shares during the period. Renasant Bank raised its position in shares of General Dynamics by 46.8% during the 4th quarter. Renasant Bank now owns 3,258 shares of the aerospace company's stock valued at $858,000 after acquiring an additional 1,038 shares during the last quarter. Finally, Quantbot Technologies LP lifted its stake in shares of General Dynamics by 990.0% in the 4th quarter. Quantbot Technologies LP now owns 66,557 shares of the aerospace company's stock valued at $17,537,000 after purchasing an additional 60,451 shares during the period. Institutional investors own 86.14% of the company's stock.

General Dynamics Stock Performance

GD opened at $278.46 on Monday. The company has a market capitalization of $74.74 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 1.88 and a beta of 0.46. The business's 50-day moving average price is $275.58 and its two-hundred day moving average price is $266.45. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $316.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.34 and a quick ratio of 0.82.

General Dynamics (NYSE:GD - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.43 by $0.23. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.92 billion. During the same quarter last year, the firm earned $2.88 EPS. General Dynamics's revenue for the quarter was up 13.9% compared to the same quarter last year. Equities analysts expect that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Thursday, July 3rd. General Dynamics's dividend payout ratio is presently 41.61%.

Analyst Ratings Changes

GD has been the subject of a number of analyst reports. UBS Group lifted their price objective on General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Citigroup reduced their target price on General Dynamics from $335.00 to $330.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. TD Securities boosted their target price on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Cowen reissued a "buy" rating on shares of General Dynamics in a research note on Thursday, April 24th. Finally, Wells Fargo & Company decreased their price objective on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $293.00.

Insider Buying and Selling

In related news, CEO Phebe N. Novakovic sold 7,639 shares of General Dynamics stock in a transaction dated 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 sale, the chief executive officer now owns 769,607 shares of the company's stock, valued at approximately $215,828,587.08. The trade was a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

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.

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