General Dynamics Co. (NYSE:GD) Shares Acquired by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC boosted its stake in shares of General Dynamics Co. (NYSE:GD - Free Report) by 2.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 61,640 shares of the aerospace company's stock after buying an additional 1,735 shares during the period. NorthCrest Asset Manangement LLC's holdings in General Dynamics were worth $16,802,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Sky Investment Group LLC increased its stake in General Dynamics by 6.5% in the first quarter. Sky Investment Group LLC now owns 14,897 shares of the aerospace company's stock worth $4,061,000 after purchasing an additional 907 shares during the period. Thomasville National Bank increased its stake in General Dynamics by 3.3% in the first quarter. Thomasville National Bank now owns 74,754 shares of the aerospace company's stock worth $20,376,000 after purchasing an additional 2,368 shares during the period. Fifth Third Bancorp increased its stake in General Dynamics by 0.6% in the first quarter. Fifth Third Bancorp now owns 232,778 shares of the aerospace company's stock worth $63,451,000 after purchasing an additional 1,501 shares during the period. Simon Quick Advisors LLC increased its stake in General Dynamics by 170.0% in the first quarter. Simon Quick Advisors LLC now owns 2,408 shares of the aerospace company's stock worth $656,000 after purchasing an additional 1,516 shares during the period. Finally, Arvest Investments Inc. increased its stake in General Dynamics by 2.8% in the first quarter. Arvest Investments Inc. now owns 10,918 shares of the aerospace company's stock worth $2,976,000 after purchasing an additional 301 shares during the period. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Stock Up 1.1%

NYSE:GD traded up $3.02 during midday trading on Friday, reaching $282.95. 1,649,124 shares of the stock traded hands, compared to its average volume of 1,384,735. General Dynamics Co. has a 12-month low of $239.20 and a 12-month high of $316.90. The business has a 50-day moving average of $274.04 and a two-hundred day moving average of $266.63. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The stock has a market capitalization of $75.94 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 1.69 and a beta of 0.46.

General Dynamics (NYSE:GD - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, beating analysts' consensus estimates of $3.43 by $0.23. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. The company had revenue of $12.22 billion during the quarter, compared to analysts' expectations of $11.92 billion. During the same quarter in the prior year, the company posted $2.88 earnings per share. General Dynamics's revenue for the quarter was up 13.9% compared to the same quarter last year. On average, equities analysts forecast that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a yield of 2.12%. General Dynamics's payout ratio is 41.61%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. BTIG Research lowered General Dynamics from a "buy" rating to a "neutral" rating in a research note on Thursday, February 13th. Argus set a $295.00 price target on General Dynamics in a research note on Tuesday, May 6th. Morgan Stanley lowered their price objective on shares of General Dynamics from $305.00 to $300.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Cowen reiterated a "buy" rating on shares of General Dynamics in a report on Thursday, April 24th. Finally, UBS Group raised their target price on shares of General Dynamics from $268.00 to $279.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, General Dynamics has a consensus rating of "Hold" and an average target price of $293.00.

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.