Ieq Capital LLC increased its holdings in shares of General Dynamics Corporation (NYSE:GD – Free Report) by 22.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 136,465 shares of the aerospace company’s stock after purchasing an additional 25,450 shares during the quarter. Ieq Capital LLC’s holdings in General Dynamics were worth $45,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vontobel Holding Ltd. lifted its holdings in shares of General Dynamics by 126.5% during the fourth quarter. Vontobel Holding Ltd. now owns 56,534 shares of the aerospace company’s stock valued at $19,033,000 after purchasing an additional 31,571 shares in the last quarter. First National Bank of Omaha bought a new position in shares of General Dynamics during the fourth quarter valued at $1,171,000. Alchemi Wealth LLC bought a new position in General Dynamics in the fourth quarter valued at about $564,000. Martingale Asset Management L P lifted its holdings in General Dynamics by 1.7% in the fourth quarter. Martingale Asset Management L P now owns 81,907 shares of the aerospace company’s stock valued at $27,575,000 after acquiring an additional 1,383 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in General Dynamics by 0.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 651,701 shares of the aerospace company’s stock valued at $219,402,000 after acquiring an additional 5,546 shares during the period. 86.14% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have weighed in on the company. Weiss Ratings downgraded General Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, May 19th. JPMorgan Chase & Co. increased their target price on General Dynamics from $385.00 to $400.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. UBS Group raised General Dynamics from a “neutral” rating to a “buy” rating in a report on Thursday. BNP Paribas Exane lowered their target price on General Dynamics from $430.00 to $390.00 and set an “outperform” rating on the stock in a report on Thursday, April 30th. Finally, Wells Fargo & Company assumed coverage on General Dynamics in a report on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $388.40.
Insiders Place Their Bets
In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the transaction, the executive vice president owned 38,975 shares in the company, valued at $13,457,677.75. This trade represents a 48.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.40% of the stock is owned by corporate insiders.
General Dynamics Stock Performance
NYSE:GD opened at $359.92 on Friday. 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 12-month low of $275.49 and a 12-month high of $369.70. The stock has a 50-day moving average price of $340.32 and a 200 day moving average price of $346.59. The stock has a market capitalization of $97.33 billion, a P/E ratio of 22.65, a P/E/G ratio of 2.23 and a beta of 0.34.
General Dynamics (NYSE:GD – Get Free Report) last released 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 business 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 firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.66 EPS. Equities research analysts forecast that General Dynamics Corporation will post 16.62 EPS for the current fiscal year.
General Dynamics Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be issued a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, July 2nd. General Dynamics’s dividend payout ratio (DPR) is currently 40.03%.
General Dynamics Company 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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