Toronto Dominion Bank Grows Position in General Dynamics Co. (NYSE:GD)

Toronto Dominion Bank increased its position in General Dynamics Co. (NYSE:GD - Free Report) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,347 shares of the aerospace company's stock after acquiring an additional 5,532 shares during the quarter. Toronto Dominion Bank's holdings in General Dynamics were worth $37,578,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC raised its position in shares of General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company's stock valued at $25,000 after buying an additional 58 shares during the last quarter. Hara Capital LLC bought a new position in General Dynamics during the 3rd quarter valued at about $26,000. American Capital Advisory LLC bought a new position in shares of General Dynamics during the second quarter valued at approximately $29,000. Lowe Wealth Advisors LLC purchased a new stake in shares of General Dynamics in the third quarter worth approximately $30,000. Finally, Atlantic Edge Private Wealth Management LLC lifted its stake in shares of General Dynamics by 120.0% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 110 shares of the aerospace company's stock worth $32,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 86.14% of the company's stock.

Insider Buying and Selling at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the transaction, the vice president now directly owns 20,296 shares of the company's stock, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Peter A. Wall sold 1,320 shares of the firm's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares of the company's stock, valued at approximately $1,106,515.60. This trade represents a 26.87 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is owned by company insiders.

General Dynamics Trading Down 0.9 %

General Dynamics stock traded down $2.39 during midday trading on Thursday, reaching $263.04. 2,397,220 shares of the stock traded hands, compared to its average volume of 1,135,592. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The firm has a market cap of $72.33 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 1.67 and a beta of 0.59. The company has a 50-day simple moving average of $293.31 and a two-hundred day simple moving average of $294.20. General Dynamics Co. has a 12-month low of $247.36 and a 12-month high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last released its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.04 earnings per share. Research analysts expect that General Dynamics Co. will post 13.87 earnings per share for the current fiscal year.

General Dynamics announced that its board has approved a stock repurchase plan on Wednesday, December 4th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics's payout ratio is currently 43.26%.

Analyst Upgrades and Downgrades

GD has been the subject of a number of recent analyst reports. Susquehanna boosted their target price on shares of General Dynamics from $333.00 to $352.00 and gave the company a "positive" rating in a research note on Thursday, October 17th. Royal Bank of Canada upped their target price on shares of General Dynamics from $320.00 to $330.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Dynamics from $309.00 to $306.00 and set a "hold" rating for the company in a research note on Friday, November 1st. Citigroup increased their price objective on General Dynamics from $331.00 to $354.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Finally, Wolfe Research lowered General Dynamics from an "outperform" rating to a "peer perform" rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $317.38.

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.