Toronto Dominion Bank Has $35.52 Million Stock Holdings in General Dynamics Co. (NYSE:GD)

Toronto Dominion Bank grew its holdings in shares of General Dynamics Co. (NYSE:GD - Free Report) by 8.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 134,806 shares of the aerospace company's stock after buying an additional 10,459 shares during the quarter. Toronto Dominion Bank's holdings in General Dynamics were worth $35,520,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Castlekeep Investment Advisors LLC purchased a new stake in shares of General Dynamics during the fourth quarter valued at approximately $279,582,000. Raymond James Financial Inc. acquired a new stake in General Dynamics during the 4th quarter valued at $197,238,000. Vanguard Group Inc. increased its stake in General Dynamics by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company's stock worth $6,265,813,000 after buying an additional 706,317 shares during the period. Capital Research Global Investors increased its stake in General Dynamics by 7.4% during the 4th quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company's stock worth $1,774,381,000 after buying an additional 463,497 shares during the period. Finally, Barclays PLC lifted its holdings in General Dynamics by 43.1% in the 3rd quarter. Barclays PLC now owns 942,485 shares of the aerospace company's stock worth $284,818,000 after buying an additional 283,972 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

General Dynamics Stock Performance

Shares of GD traded down $0.93 during midday trading on Thursday, hitting $276.77. 1,034,785 shares of the stock traded hands, compared to its average volume of 1,371,473. The business's 50 day moving average price is $270.84 and its two-hundred day moving average price is $268.72. The firm has a market capitalization of $74.28 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.69 and a beta of 0.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. General Dynamics Co. has a 1-year low of $239.20 and a 1-year high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last posted 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. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.92 billion. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. General Dynamics's revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.88 EPS. Equities research analysts predict that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 11th were paid a dividend of $1.50 per share. The ex-dividend date was Friday, April 11th. This represents a $6.00 annualized dividend and a yield of 2.17%. This is an increase from General Dynamics's previous quarterly dividend of $1.42. General Dynamics's payout ratio is presently 41.61%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GD. BTIG Research lowered General Dynamics from a "buy" rating to a "neutral" rating in a research report on Thursday, February 13th. Citigroup dropped their price objective 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 Cowen reduced their target price on General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. Royal Bank of Canada decreased their price target on shares of General Dynamics from $290.00 to $280.00 and set a "sector perform" rating for the company in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group cut their price target on shares of General Dynamics from $245.00 to $241.00 and set a "sell" rating on the stock in a report on Tuesday, January 28th. 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $293.00.

Insiders Place Their Bets

In other news, SVP Marguerite Amy Gilliland sold 27,562 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the sale, the senior vice president now directly owns 45,192 shares of the company's stock, valued at approximately $12,297,195.12. This represents a 37.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.50% of the stock is currently owned by 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.