Texas Bank & Trust Co Purchases Shares of 2,682 General Dynamics Co. (NYSE:GD)

Texas Bank & Trust Co bought a new position in General Dynamics Co. (NYSE:GD - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 2,682 shares of the aerospace company's stock, valued at approximately $707,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of GD. Teza Capital Management LLC bought a new stake in shares of General Dynamics during the 4th quarter worth approximately $3,772,000. Tidal Investments LLC lifted its stake in shares of General Dynamics by 21.9% during the 4th quarter. Tidal Investments LLC now owns 96,991 shares of the aerospace company's stock worth $25,556,000 after acquiring an additional 17,423 shares during the last quarter. State of Wyoming bought a new stake in shares of General Dynamics during the 4th quarter worth approximately $373,000. Strive Asset Management LLC bought a new stake in shares of General Dynamics during the 4th quarter worth approximately $602,000. Finally, Toronto Dominion Bank lifted its stake in shares of General Dynamics by 8.4% during the 4th quarter. Toronto Dominion Bank now owns 134,806 shares of the aerospace company's stock worth $35,520,000 after acquiring an additional 10,459 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Stock Down 1.4%

Shares of GD traded down $3.85 during trading hours on Wednesday, hitting $277.72. The company had a trading volume of 997,105 shares, compared to its average volume of 1,372,819. The company has a market capitalization of $74.54 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 1.69 and a beta of 0.49. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a one year low of $239.20 and a one year high of $316.90. The company's fifty day moving average price is $270.53 and its two-hundred day moving average price is $268.66.

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 the consensus estimate of $3.43 by $0.23. General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. The company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.92 billion. During the same period in the prior year, the company posted $2.88 EPS. The firm's quarterly revenue was up 13.9% compared to the same quarter last year. As a group, equities analysts forecast that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 11th were given a dividend of $1.50 per share. This is a positive change from General Dynamics's previous quarterly dividend of $1.42. This represents a $6.00 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Friday, April 11th. General Dynamics's dividend payout ratio is currently 41.61%.

Analyst Ratings Changes

A number of brokerages recently issued reports on GD. Barclays decreased their price target on General Dynamics from $305.00 to $285.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. TD Cowen decreased their price target on General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. Citigroup decreased their price target on General Dynamics from $335.00 to $330.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. William Blair lowered General Dynamics from an "outperform" rating to a "market perform" rating in a research report on Friday, February 21st. Finally, TD Securities upped their target price on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $293.00.

Insider Activity at General Dynamics

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the sale, the senior vice president now owns 45,192 shares in the company, valued at approximately $12,297,195.12. The trade was a 37.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by corporate 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.