One Capital Management LLC lifted its holdings in shares of General Dynamics Corporation (NYSE:GD – Free Report) by 4.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,746 shares of the aerospace company’s stock after buying an additional 1,668 shares during the period. One Capital Management LLC’s holdings in General Dynamics were worth $14,728,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. WASHINGTON TRUST Co increased its holdings in General Dynamics by 453.3% in the 3rd quarter. WASHINGTON TRUST Co now owns 9,418 shares of the aerospace company’s stock worth $3,212,000 after purchasing an additional 7,716 shares in the last quarter. Rockland Trust Co. increased its holdings in General Dynamics by 703.4% in the 3rd quarter. Rockland Trust Co. now owns 10,548 shares of the aerospace company’s stock worth $3,597,000 after purchasing an additional 9,235 shares in the last quarter. Vanguard Group Inc. increased its holdings in General Dynamics by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock worth $8,338,169,000 after purchasing an additional 528,769 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in General Dynamics by 3.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 917,424 shares of the aerospace company’s stock worth $312,842,000 after purchasing an additional 32,262 shares in the last quarter. Finally, Atlantic Union Bankshares Corp increased its holdings in General Dynamics by 225.7% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 8,575 shares of the aerospace company’s stock worth $2,924,000 after purchasing an additional 5,942 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. Morgan Stanley upped their target price on General Dynamics from $410.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. upped their target price on General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Wall Street Zen cut General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 23rd. Deutsche Bank Aktiengesellschaft lowered their target price on General Dynamics from $387.00 to $377.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. Finally, UBS Group lowered their target price on General Dynamics from $385.00 to $371.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $387.40.
General Dynamics Trading Down 2.2%
Shares of GD stock opened at $339.35 on Tuesday. The stock has a market cap of $91.77 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 2.15 and a beta of 0.34. The stock has a 50-day moving average of $340.65 and a 200-day moving average of $346.45. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. General Dynamics Corporation has a 1-year low of $268.10 and a 1-year high of $369.70.
General Dynamics (NYSE:GD – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.43. The company had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.66 earnings per share. On average, equities research analysts forecast that General Dynamics Corporation will post 16.62 earnings per share for the current year.
General Dynamics Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 10th were paid a dividend of $1.59 per share. This is an increase from General Dynamics’s previous quarterly dividend of $1.50. This represents a $6.36 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, April 10th. General Dynamics’s payout ratio is 40.03%.
Insider Buying and Selling
In other General Dynamics news, EVP Marguerite Amy Gilliland sold 3,819 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $353.50, for a total value 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. The trade was a 7.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Lagrand Burns sold 36,480 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total value of $12,596,179.20. Following the transaction, the executive vice president owned 38,975 shares in the company, valued at $13,457,677.75. The trade was a 48.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 119,600 shares of company stock valued at $41,650,580 over the last 90 days. Company insiders own 1.40% of the company’s stock.
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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