Thurston Springer Miller Herd & Titak Inc. Buys 2,577 Shares of General Dynamics Co. (NYSE:GD)

Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of General Dynamics Co. (NYSE:GD) by 26.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 12,296 shares of the aerospace company’s stock after acquiring an additional 2,577 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in General Dynamics were worth $3,351,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in General Dynamics by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company’s stock valued at $6,265,813,000 after acquiring an additional 706,317 shares during the period. Capital Research Global Investors lifted its stake in General Dynamics by 7.4% during the 4th quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company’s stock valued at $1,774,381,000 after acquiring an additional 463,497 shares during the period. Geode Capital Management LLC lifted its stake in General Dynamics by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 5,688,672 shares of the aerospace company’s stock valued at $1,496,939,000 after acquiring an additional 131,268 shares during the period. Sanders Capital LLC lifted its stake in General Dynamics by 0.8% during the 4th quarter. Sanders Capital LLC now owns 4,212,422 shares of the aerospace company’s stock valued at $1,109,931,000 after acquiring an additional 33,962 shares during the period. Finally, Royal Bank of Canada lifted its stake in General Dynamics by 5.2% during the 4th quarter. Royal Bank of Canada now owns 2,935,046 shares of the aerospace company’s stock valued at $773,355,000 after acquiring an additional 145,978 shares during the period. Institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Down 0.3%

Shares of GD opened at $275.12 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. General Dynamics Co. has a 1 year low of $239.20 and a 1 year high of $316.90. The company has a 50 day simple moving average of $272.61 and a two-hundred day simple moving average of $266.82. The firm has a market cap of $73.84 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 1.69 and a beta of 0.49.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.23. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.92 billion. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. General Dynamics’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the firm posted $2.88 earnings per share. On average, equities analysts expect that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.18%. General Dynamics’s dividend payout ratio is presently 41.61%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GD. Cowen reiterated a “buy” rating on shares of General Dynamics in a research note on Thursday, April 24th. Citigroup lowered their price objective on shares of General Dynamics from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. UBS Group increased their price objective on shares of General Dynamics from $268.00 to $279.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Wells Fargo & Company lowered their price objective on shares of General Dynamics from $261.00 to $236.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Finally, Susquehanna increased their price objective on shares of General Dynamics from $300.00 to $315.00 and gave the stock a “positive” rating in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, General Dynamics has an average rating of “Hold” and an average price target of $293.00.

Insider Transactions at General Dynamics

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the sale, the senior vice president now directly owns 45,192 shares in the company, valued at $12,297,195.12. The trade was a 37.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.50% of the company’s stock.

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.