National Asset Management Inc. Buys 1,861 Shares of General Dynamics Co. (NYSE:GD)

National Asset Management Inc. boosted its stake in General Dynamics Co. (NYSE:GD) by 21.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,543 shares of the aerospace company’s stock after purchasing an additional 1,861 shares during the period. National Asset Management Inc.’s holdings in General Dynamics were worth $1,983,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Loudon Investment Management LLC grew its position in General Dynamics by 1.4% in the 2nd quarter. Loudon Investment Management LLC now owns 3,963 shares of the aerospace company’s stock worth $746,000 after purchasing an additional 53 shares during the period. Parkside Financial Bank & Trust grew its position in General Dynamics by 3.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,395 shares of the aerospace company’s stock worth $262,000 after purchasing an additional 53 shares during the period. River Wealth Advisors LLC boosted its stake in shares of General Dynamics by 3.4% during the 1st quarter. River Wealth Advisors LLC now owns 1,654 shares of the aerospace company’s stock worth $300,000 after acquiring an additional 54 shares during the last quarter. RiverFront Investment Group LLC boosted its stake in shares of General Dynamics by 3.9% during the 2nd quarter. RiverFront Investment Group LLC now owns 1,445 shares of the aerospace company’s stock worth $272,000 after acquiring an additional 54 shares during the last quarter. Finally, Doliver Advisors LP boosted its stake in shares of General Dynamics by 2.9% during the 1st quarter. Doliver Advisors LP now owns 1,983 shares of the aerospace company’s stock worth $360,000 after acquiring an additional 55 shares during the last quarter. 85.22% of the stock is owned by institutional investors and hedge funds.

Shares of GD stock opened at $195.12 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.44 and a quick ratio of 1.05. The company has a market capitalization of $54.54 billion, a P/E ratio of 17.00, a P/E/G ratio of 2.04 and a beta of 1.14. The company’s 50-day simple moving average is $196.74 and its two-hundred day simple moving average is $189.35. General Dynamics Co. has a one year low of $129.17 and a one year high of $206.46.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 28th. The aerospace company reported $2.61 EPS for the quarter, topping the Zacks’ consensus estimate of $2.52 by $0.09. General Dynamics had a net margin of 8.52% and a return on equity of 21.50%. The business had revenue of $9.22 billion for the quarter, compared to the consensus estimate of $9.23 billion. On average, research analysts expect that General Dynamics Co. will post 11.49 EPS for the current fiscal year.

General Dynamics declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 2nd that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 12th. Investors of record on Friday, October 8th will be given a dividend of $1.19 per share. The ex-dividend date is Thursday, October 7th. This represents a $4.76 dividend on an annualized basis and a yield of 2.44%. General Dynamics’s payout ratio is 43.27%.

GD has been the topic of several analyst reports. Credit Suisse Group lifted their price target on shares of General Dynamics from $182.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, July 29th. Cowen reiterated a “buy” rating on shares of General Dynamics in a research note on Monday, August 9th. Wells Fargo & Company lifted their target price on shares of General Dynamics from $216.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, July 30th. Finally, Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $208.00 target price on the stock in a research note on Thursday, August 5th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $207.45.

About General Dynamics

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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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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