Parsons Capital Management Inc. RI Grows Stake in General Dynamics Co. (NYSE:GD)

Parsons Capital Management Inc. RI boosted its position in General Dynamics Co. (NYSE:GD) by 13.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 907 shares of the aerospace company’s stock after purchasing an additional 106 shares during the period. Parsons Capital Management Inc. RI’s holdings in General Dynamics were worth $256,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GD. Impact Partnership Wealth LLC increased its position in General Dynamics by 411.5% during the third quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company’s stock worth $29,000 after buying an additional 107 shares in the last quarter. Exchange Traded Concepts LLC increased its position in General Dynamics by 1,406.1% during the third quarter. Exchange Traded Concepts LLC now owns 2,696 shares of the aerospace company’s stock worth $596,000 after buying an additional 2,517 shares in the last quarter. Private Trust Co. NA increased its position in General Dynamics by 1.1% during the third quarter. Private Trust Co. NA now owns 4,210 shares of the aerospace company’s stock worth $930,000 after buying an additional 47 shares in the last quarter. CX Institutional increased its position in General Dynamics by 123.9% during the third quarter. CX Institutional now owns 23,531 shares of the aerospace company’s stock worth $5,200,000 after buying an additional 13,022 shares in the last quarter. Finally, WASHINGTON TRUST Co increased its position in General Dynamics by 3.9% during the third quarter. WASHINGTON TRUST Co now owns 2,659 shares of the aerospace company’s stock worth $588,000 after buying an additional 100 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Phebe N. Novakovic sold 32,355 shares of General Dynamics stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the sale, the chief executive officer now directly owns 773,977 shares of the company’s stock, valued at $204,569,860.87. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.52% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research report on Thursday. UBS Group raised their price objective on General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. StockNews.com upgraded General Dynamics from a “buy” rating to a “strong-buy” rating in a report on Thursday. The Goldman Sachs Group raised their price objective on General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, Alembic Global Advisors cut General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price objective on the stock. in a report on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $293.43.

General Dynamics Trading Down 0.2 %

General Dynamics stock traded down $0.49 during midday trading on Friday, reaching $284.41. The stock had a trading volume of 1,244,205 shares, compared to its average volume of 1,231,567. General Dynamics Co. has a twelve month low of $202.35 and a twelve month high of $296.50. The stock has a market capitalization of $78.03 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 1.81 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.92 and a current ratio of 1.44. The stock’s 50-day simple moving average is $280.86 and its 200 day simple moving average is $262.05.

General Dynamics (NYSE:GD) last issued its earnings results 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 firm had revenue of $10.73 billion during the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. General Dynamics’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.64 EPS. Analysts expect 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 paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Thursday, April 11th. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s payout ratio is currently 46.33%.

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.