Narwhal Capital Management reduced its stake in General Dynamics Co. (NYSE:GD) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,535 shares of the aerospace company’s stock after selling 505 shares during the period. General Dynamics accounts for 1.3% of Narwhal Capital Management’s holdings, making the stock its 23rd biggest holding. Narwhal Capital Management’s holdings in General Dynamics were worth $6,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Carnick & Kubik Group LLC bought a new position in shares of General Dynamics during the second quarter valued at approximately $1,082,000. Investment Partners LTD. bought a new position in shares of General Dynamics during the second quarter valued at approximately $206,000. Aviva PLC boosted its stake in shares of General Dynamics by 2,418.2% during the second quarter. Aviva PLC now owns 132,960 shares of the aerospace company’s stock valued at $24,175,000 after purchasing an additional 127,680 shares in the last quarter. BancorpSouth Bank boosted its stake in shares of General Dynamics by 9.0% during the second quarter. BancorpSouth Bank now owns 23,630 shares of the aerospace company’s stock valued at $4,297,000 after purchasing an additional 1,961 shares in the last quarter. Finally, Berman Capital Advisors LLC boosted its stake in shares of General Dynamics by 31.1% during the second quarter. Berman Capital Advisors LLC now owns 430 shares of the aerospace company’s stock valued at $77,000 after purchasing an additional 102 shares in the last quarter. Institutional investors and hedge funds own 86.79% of the company’s stock.

A number of equities analysts have recently issued reports on the stock. Robert W. Baird increased their price objective on shares of General Dynamics from $188.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. ValuEngine raised shares of General Dynamics from a “sell” rating to a “hold” rating in a research report on Thursday, June 6th. UBS Group increased their target price on shares of General Dynamics from $175.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Cowen reissued a “buy” rating and set a $202.00 target price on shares of General Dynamics in a research report on Wednesday, April 24th. Finally, Goldman Sachs Group raised shares of General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 target price for the company in a research report on Sunday, May 19th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. General Dynamics has a consensus rating of “Hold” and an average target price of $191.35.

In other General Dynamics news, VP Gary L. Whited sold 14,029 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $188.38, for a total value of $2,642,783.02. Following the completion of the transaction, the vice president now owns 37,542 shares of the company’s stock, valued at $7,072,161.96. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William A. Osborn sold 1,500 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $182.56, for a total transaction of $273,840.00. Following the completion of the transaction, the director now directly owns 37,585 shares of the company’s stock, valued at approximately $6,861,517.60. The disclosure for this sale can be found here. Company insiders own 7.10% of the company’s stock.

Shares of NYSE GD traded down $0.07 during midday trading on Friday, reaching $184.10. The company had a trading volume of 700,185 shares, compared to its average volume of 1,138,163. The company’s 50-day moving average is $183.08. The company has a market cap of $53.20 billion, a PE ratio of 16.12, a P/E/G ratio of 1.78 and a beta of 1.21. General Dynamics Co. has a 1 year low of $143.87 and a 1 year high of $207.72. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.73 and a current ratio of 1.09.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.68 by $0.09. The business had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.36 billion. General Dynamics had a net margin of 8.65% and a return on equity of 26.81%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company posted $2.82 earnings per share. Equities analysts expect that General Dynamics Co. will post 11.83 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.22%. General Dynamics’s dividend payout ratio is currently 35.73%.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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

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