Narwhal Capital Management Buys 2,593 Shares of General Dynamics Co. (NYSE:GD)

Narwhal Capital Management boosted its position in shares of General Dynamics Co. (NYSE:GD) by 8.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,186 shares of the aerospace company’s stock after acquiring an additional 2,593 shares during the period. General Dynamics makes up approximately 1.0% of Narwhal Capital Management’s holdings, making the stock its 26th largest holding. Narwhal Capital Management’s holdings in General Dynamics were worth $10,209,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in shares of General Dynamics by 2.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after purchasing an additional 115,063 shares during the period. Sanders Capital LLC boosted its stake in General Dynamics by 3.7% during the fourth quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company’s stock worth $1,081,488,000 after buying an additional 147,800 shares in the last quarter. Norges Bank bought a new stake in General Dynamics in the 4th quarter valued at $728,284,000. Northern Trust Corp raised its stake in shares of General Dynamics by 1.1% in 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 in the last quarter. Finally, Boston Partners lifted its holdings in shares of General Dynamics by 1.4% during the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock worth $474,927,000 after acquiring an additional 23,262 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Price Performance

Shares of GD stock opened at $292.96 on Friday. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $302.75. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The firm’s 50 day moving average is $290.80 and its 200-day moving average is $288.84. The firm has a market capitalization of $80.38 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 1.64 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). The company had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.70 EPS. Sell-side analysts forecast that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is 46.33%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. BTIG Research assumed coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Sanford C. Bernstein boosted their price target on General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. Robert W. Baird reiterated an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. Finally, Wells Fargo & Company boosted their target price on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $315.06.

About General Dynamics

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.