Toronto Dominion Bank Increases Holdings in General Dynamics Co. (NYSE:GD)

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

Several other large investors also recently modified their holdings of the stock. Empowered Funds LLC increased its position in General Dynamics by 15.3% in the fourth quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company's stock worth $2,553,000 after buying an additional 1,283 shares during the last quarter. Kentucky Trust Co bought a new position in shares of General Dynamics during the 4th quarter worth $607,000. Hickory Point Bank & Trust purchased a new stake in General Dynamics in the 4th quarter worth about $692,000. Atlas Legacy Advisors LLC bought a new stake in General Dynamics in the 4th quarter valued at about $550,000. Finally, Jones Financial Companies Lllp lifted its holdings in General Dynamics by 45.4% during the fourth quarter. Jones Financial Companies Lllp now owns 80,565 shares of the aerospace company's stock valued at $21,228,000 after purchasing an additional 25,144 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Price Performance

Shares of NYSE GD traded up $1.63 during mid-day trading on Thursday, reaching $275.27. 992,225 shares of the company were exchanged, compared to its average volume of 1,374,260. General Dynamics Co. has a 52 week low of $239.20 and a 52 week high of $316.90. The company's 50 day moving average price is $271.84 and its 200 day moving average price is $267.79. The stock has a market capitalization of $73.88 billion, a PE ratio of 20.18, a PEG ratio of 1.69 and a beta of 0.49. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.43 by $0.23. The firm had revenue of $12.22 billion during the quarter, compared to analysts' expectations of $11.92 billion. General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.88 EPS. Sell-side 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 declared a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 11th were given a dividend of $1.50 per share. This is a boost from General Dynamics's previous quarterly dividend of $1.42. This represents a $6.00 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date was Friday, April 11th. General Dynamics's dividend payout ratio (DPR) is presently 41.61%.

Analyst Ratings Changes

GD has been the subject of several recent research reports. UBS Group lifted their target price on shares of General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Morgan Stanley reduced 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 restated a "buy" rating on shares of General Dynamics in a research report on Thursday, April 24th. BTIG Research lowered General Dynamics from a "buy" rating to a "neutral" rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company decreased their price objective on General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently 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 General Dynamics stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.50% of the company's stock.

General Dynamics Company 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.