AG2R LA Mondiale Gestion D Actifs grew its stake in shares of General Dynamics Corporation (NYSE:GD – Free Report) by 34.2% during the 4th quarter, HoldingsChannel reports. The fund owned 11,988 shares of the aerospace company’s stock after acquiring an additional 3,054 shares during the period. AG2R LA Mondiale Gestion D Actifs’ holdings in General Dynamics were worth $4,036,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of GD. AQR Capital Management LLC grew its holdings in shares of General Dynamics by 118.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,663,847 shares of the aerospace company’s stock valued at $567,372,000 after acquiring an additional 901,679 shares in the last quarter. Northern Trust Corp grew its holdings in shares of General Dynamics by 35.0% during the 3rd quarter. Northern Trust Corp now owns 3,332,917 shares of the aerospace company’s stock valued at $1,136,525,000 after acquiring an additional 863,392 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of General Dynamics by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 24,238,561 shares of the aerospace company’s stock valued at $8,265,349,000 after acquiring an additional 677,665 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of General Dynamics by 831.1% during the 3rd quarter. Balyasny Asset Management L.P. now owns 737,259 shares of the aerospace company’s stock valued at $251,405,000 after acquiring an additional 658,081 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of General Dynamics by 6,680.8% during the 4th quarter. SG Americas Securities LLC now owns 591,488 shares of the aerospace company’s stock valued at $199,130,000 after acquiring an additional 582,765 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other General Dynamics news, EVP Mark Lagrand Burns sold 10,153 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $354.95, for a total transaction of $3,603,807.35. Following the completion of the transaction, the executive vice president owned 38,975 shares of the company’s stock, valued at $13,834,176.25. The trade was a 20.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marguerite Amy Gilliland sold 3,819 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $353.50, for a total transaction of $1,350,016.50. Following the transaction, the executive vice president directly owned 44,767 shares of the company’s stock, valued at approximately $15,825,134.50. This represents a 7.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 51,260 shares of company stock worth $18,133,971 in the last 90 days. Insiders own 1.40% of the company’s stock.
General Dynamics Stock Down 0.8%
General Dynamics (NYSE:GD – Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The business had revenue of $13.48 billion during the quarter, compared to analyst estimates of $12.70 billion. During the same quarter in the previous year, the business earned $3.66 EPS. General Dynamics’s quarterly revenue was up 10.3% compared to the same quarter last year. Sell-side analysts anticipate that General Dynamics Corporation will post 16.62 EPS for the current fiscal year.
General Dynamics Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 10th were given a dividend of $1.59 per share. The ex-dividend date of this dividend was Friday, April 10th. This represents a $6.36 dividend on an annualized basis and a yield of 1.8%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.50. General Dynamics’s dividend payout ratio (DPR) is presently 40.03%.
Wall Street Analyst Weigh In
Several research firms have recently commented on GD. Jefferies Financial Group lowered their price target on shares of General Dynamics from $385.00 to $380.00 and set a “hold” rating on the stock in a report on Tuesday, April 7th. Sanford C. Bernstein restated a “market perform” rating and set a $398.00 price target on shares of General Dynamics in a report on Monday, January 12th. Citigroup reduced their price objective on shares of General Dynamics from $389.00 to $380.00 and set a “neutral” rating for the company in a research note on Wednesday, April 1st. JPMorgan Chase & Co. lifted their price objective on shares of General Dynamics from $385.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, UBS Group reduced their price objective on shares of General Dynamics from $385.00 to $371.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, General Dynamics has an average rating of “Moderate Buy” and an average target price of $388.20.
General Dynamics Profile
General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.
Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.
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