General Dynamics Co. (NYSE:GD) Shares Purchased by Narwhal Capital Management

Narwhal Capital Management grew its stake in shares of General Dynamics Co. (NYSE:GD) by 3.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 38,906 shares of the aerospace company’s stock after purchasing an additional 1,382 shares during the quarter. General Dynamics makes up about 0.9% of Narwhal Capital Management’s holdings, making the stock its 26th largest position. Narwhal Capital Management’s holdings in General Dynamics were worth $10,251,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC grew its stake in General Dynamics by 40,389.3% in the third quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock worth $416,876,000 after purchasing an additional 1,376,065 shares in the last quarter. State Street Corp grew its position in shares of General Dynamics by 9.4% in the 3rd quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock worth $3,307,612,000 after acquiring an additional 943,247 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of General Dynamics by 13.0% in the 3rd quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock valued at $1,674,998,000 after acquiring an additional 638,342 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of General Dynamics by 117.0% during the 3rd quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company’s stock valued at $259,469,000 after acquiring an additional 463,000 shares in the last quarter. Finally, Barclays PLC lifted its stake in General Dynamics by 43.1% during the third quarter. Barclays PLC now owns 942,485 shares of the aerospace company’s stock worth $284,818,000 after purchasing an additional 283,972 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Activity

In related news, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the sale, the vice president now directly owns 20,296 shares in the company, valued at $5,701,349.36. The trade was a 21.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.52% of the company’s stock.

Analyst Upgrades and Downgrades

GD has been the topic of a number of research reports. Baird R W cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Citigroup raised their price target on General Dynamics from $354.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, Barclays lowered their price objective on General Dynamics from $330.00 to $305.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, General Dynamics currently has an average rating of “Hold” and an average price target of $304.88.

General Dynamics Price Performance

Shares of NYSE:GD opened at $266.22 on Monday. The stock has a market cap of $73.20 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 1.43 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. General Dynamics Co. has a 12 month low of $257.26 and a 12 month high of $316.90. The stock’s 50 day moving average price is $269.27 and its 200 day moving average price is $287.70.

General Dynamics declared that its board has initiated a stock buyback plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s dividend payout ratio is presently 43.26%.

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.