Israel Discount Bank of New York Sells 74 Shares of General Dynamics Co. (NYSE:GD)

Israel Discount Bank of New York reduced its position in General Dynamics Co. (NYSE:GD) by 3.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,222 shares of the aerospace company’s stock after selling 74 shares during the period. Israel Discount Bank of New York’s holdings in General Dynamics were worth $577,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. boosted its holdings in shares of General Dynamics by 99.3% in the 4th quarter. Pacer Advisors Inc. now owns 29,045 shares of the aerospace company’s stock valued at $7,542,000 after buying an additional 14,468 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in General Dynamics in the 3rd quarter worth approximately $16,077,000. Moreno Evelyn V boosted its stake in General Dynamics by 17.1% in the 3rd quarter. Moreno Evelyn V now owns 27,310 shares of the aerospace company’s stock worth $6,035,000 after purchasing an additional 3,991 shares in the last quarter. Clough Capital Partners L P acquired a new stake in General Dynamics in the 3rd quarter worth approximately $26,868,000. Finally, Victory Capital Management Inc. boosted its stake in General Dynamics by 57.7% in the 3rd quarter. Victory Capital Management Inc. now owns 326,121 shares of the aerospace company’s stock worth $72,063,000 after purchasing an additional 119,264 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on GD. Wells Fargo & Company lifted their target price on shares of General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Jefferies Financial Group raised shares of General Dynamics from a “hold” rating to a “buy” rating and raised their price target for the stock from $305.00 to $335.00 in a research report on Monday. StockNews.com raised shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Thursday. UBS Group raised their price target on shares of General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Finally, Citigroup raised their price target on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $297.06.

General Dynamics Stock Performance

Shares of NYSE:GD traded up $3.33 during trading on Monday, hitting $287.74. 979,389 shares of the stock traded hands, compared to its average volume of 1,112,475. The company has a market cap of $78.94 billion, a price-to-earnings ratio of 23.61, a P/E/G ratio of 1.77 and a beta of 0.68. The company has a fifty day moving average price of $280.86 and a two-hundred day moving average price of $262.05. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. General Dynamics Co. has a 52-week low of $202.35 and a 52-week high of $296.50.

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

General Dynamics Increases Dividend

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

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.