Norden Group LLC Acquires 1,105 Shares of General Dynamics Co. (NYSE:GD)

Norden Group LLC boosted its holdings in General Dynamics Co. (NYSE:GD) by 21.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,158 shares of the aerospace company’s stock after purchasing an additional 1,105 shares during the period. Norden Group LLC’s holdings in General Dynamics were worth $1,599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GD. Briaud Financial Planning Inc acquired a new stake in shares of General Dynamics in the third quarter valued at about $27,000. Rakuten Securities Inc. acquired a new position in shares of General Dynamics during the 4th quarter worth approximately $38,000. Wetzel Investment Advisors Inc. bought a new stake in shares of General Dynamics during the 4th quarter worth approximately $38,000. Operose Advisors LLC acquired a new stake in shares of General Dynamics in the 3rd quarter valued at approximately $40,000. Finally, Rational Advisors LLC bought a new position in shares of General Dynamics in the third quarter valued at $42,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Performance

General Dynamics stock traded up $1.18 during midday trading on Tuesday, hitting $288.97. The company’s stock had a trading volume of 505,108 shares, compared to its average volume of 1,108,822. The company has a 50-day moving average price of $281.23 and a two-hundred day moving average price of $262.41. General Dynamics Co. has a 1-year low of $202.35 and a 1-year high of $296.50. The company has a market cap of $79.28 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 1.77 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The company had revenue of $10.73 billion during the quarter, compared to the consensus estimate of $10.26 billion. During the same quarter last year, the firm posted $2.64 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts predict that General Dynamics Co. will post 14.57 earnings per share for the current year.

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, April 11th. This is an increase from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s payout ratio is 46.33%.

Wall Street Analyst Weigh In

GD has been the topic of several analyst reports. Argus upped their price target on shares of General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday. Jefferies Financial Group upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and raised their target price for the company from $305.00 to $335.00 in a research note on Monday. Citigroup boosted their price target on General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. The Goldman Sachs Group raised their price objective on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. lifted their target price on General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $297.06.

General Dynamics 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.