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

Toronto Dominion Bank increased its position in General Dynamics Co. (NYSE:GD) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,654 shares of the aerospace company’s stock after acquiring an additional 2,728 shares during the period. Toronto Dominion Bank owned approximately 0.06% of General Dynamics worth $49,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sanders Capital LLC raised its stake in shares of General Dynamics by 3.7% during the 4th quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company’s stock valued at $1,081,488,000 after buying an additional 147,800 shares during the last quarter. Norges Bank purchased a new position in shares of General Dynamics during the 4th quarter valued at about $728,284,000. Northern Trust Corp raised its stake in shares of General Dynamics by 1.1% during the 4th quarter. Northern Trust Corp now owns 2,282,757 shares of the aerospace company’s stock valued at $592,764,000 after buying an additional 24,395 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of General Dynamics by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,372,311 shares of the aerospace company’s stock valued at $356,348,000 after buying an additional 40,689 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of General Dynamics by 3.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,371,123 shares of the aerospace company’s stock valued at $356,040,000 after buying an additional 45,200 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling

In related news, Director Leon Rudy F. De sold 2,570 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $288.00, for a total transaction of $740,160.00. Following the completion of the transaction, the director now owns 5,518 shares in the company, valued at $1,589,184. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other General Dynamics news, Director Leon Rudy F. De sold 2,570 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $288.00, for a total value of $740,160.00. Following the completion of the transaction, the director now owns 5,518 shares in the company, valued at $1,589,184. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the completion of the transaction, the chief financial officer now owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,636 shares of company stock worth $20,209,317. Corporate insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GD. Deutsche Bank Aktiengesellschaft reduced their price objective on General Dynamics from $324.00 to $320.00 and set a “buy” rating for the company in a research note on Thursday. Argus lifted their price objective on General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Jefferies Financial Group upgraded General Dynamics from a “hold” rating to a “buy” rating and lifted their price target for the company from $305.00 to $335.00 in a research note on Monday, April 29th. Barclays lifted their price target on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Robert W. Baird restated an “outperform” rating and issued a $345.00 price target on shares of General Dynamics in a research note on Tuesday, July 2nd. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $311.33.

General Dynamics Price Performance

Shares of General Dynamics stock traded down $0.58 on Friday, hitting $290.40. 1,079,610 shares of the company were exchanged, compared to its average volume of 1,072,785. The stock has a market capitalization of $79.67 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 1.63 and a beta of 0.60. The company has a 50-day moving average price of $292.65 and a 200 day moving average price of $282.16. General Dynamics Co. has a 1-year low of $214.53 and a 1-year high of $302.75. The company has a quick ratio of 0.87, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). The firm had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.70 EPS. As a group, sell-side analysts predict that General Dynamics Co. will post 14.54 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.96%. General Dynamics’s payout ratio is currently 46.33%.

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.