General Dynamics Sees Unusually Large Options Volume (NYSE:GD)

General Dynamics Co. (NYSE:GD) was the recipient of unusually large options trading on Wednesday. Investors purchased 6,856 call options on the stock. This is an increase of approximately 1,135% compared to the typical volume of 555 call options.

Shares of GD opened at $184.79 on Thursday. The firm has a fifty day moving average price of $173.49 and a 200 day moving average price of $154.39. The stock has a market cap of $52.40 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 2.40 and a beta of 1.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.29 and a quick ratio of 0.90. General Dynamics has a 1-year low of $121.67 and a 1-year high of $186.00.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Tuesday, January 26th. The aerospace company reported $3.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.54 by ($0.05). The business had revenue of $10.48 billion during the quarter, compared to analysts’ expectations of $10.76 billion. General Dynamics had a net margin of 8.33% and a return on equity of 23.00%. General Dynamics’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.51 EPS. As a group, equities analysts expect that General Dynamics will post 11.06 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 7th. Stockholders of record on Friday, April 9th will be given a $1.19 dividend. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.58%. This is an increase from General Dynamics’s previous quarterly dividend of $1.10. General Dynamics’s payout ratio is currently 36.73%.

Institutional investors and hedge funds have recently modified their holdings of the stock. Bremer Bank National Association boosted its position in General Dynamics by 13.7% during the 1st quarter. Bremer Bank National Association now owns 7,458 shares of the aerospace company’s stock worth $1,354,000 after purchasing an additional 898 shares during the period. Somerset Trust Co boosted its stake in General Dynamics by 1.3% during the 1st quarter. Somerset Trust Co now owns 15,666 shares of the aerospace company’s stock valued at $2,845,000 after acquiring an additional 207 shares during the last quarter. Private Trust Co. NA raised its stake in General Dynamics by 1.2% during the first quarter. Private Trust Co. NA now owns 5,975 shares of the aerospace company’s stock valued at $1,084,000 after buying an additional 73 shares in the last quarter. Trust Co. of Toledo NA OH boosted its holdings in General Dynamics by 16.3% in the first quarter. Trust Co. of Toledo NA OH now owns 7,135 shares of the aerospace company’s stock worth $1,296,000 after purchasing an additional 998 shares during the period. Finally, Stonebridge Capital Management Inc. boosted its stake in General Dynamics by 1.6% in the first quarter. Stonebridge Capital Management Inc. now owns 36,578 shares of the aerospace company’s stock valued at $6,641,000 after acquiring an additional 575 shares during the period. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on the company. Morgan Stanley reduced their price target on General Dynamics from $161.00 to $149.00 and set an “underweight” rating for the company in a report on Monday, February 8th. Citigroup boosted their price objective on shares of General Dynamics from $160.00 to $200.00 in a research report on Thursday, March 25th. Barclays restated a “buy” rating on shares of General Dynamics in a research report on Friday, April 2nd. Zacks Investment Research cut shares of General Dynamics from a “hold” rating to a “sell” rating and set a $196.00 target price for the company. in a research note on Wednesday. Finally, Susquehanna upped their price target on shares of General Dynamics from $162.00 to $180.00 and gave the company a “positive” rating in a research note on Friday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $169.06.

General Dynamics Company Profile

General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It operates through the following segments: Aerospace, Combat Systems, Information Technology, and Marine Systems.

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