J.Safra Asset Management Corp bought a new stake in General Dynamics Corporation (NYSE:GD – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 2,753 shares of the aerospace company’s stock, valued at approximately $975,000.
Several other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp bought a new position in General Dynamics in the second quarter valued at approximately $429,073,000. AQR Capital Management LLC boosted its holdings in shares of General Dynamics by 118.3% in 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 purchasing an additional 901,679 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of General Dynamics by 35.0% in 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 purchasing an additional 863,392 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in shares of General Dynamics by 831.1% in 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 purchasing an additional 658,081 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of General Dynamics by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock valued at $8,338,169,000 after purchasing an additional 528,769 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.
General Dynamics Stock Down 0.1%
Shares of GD opened at $395.46 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.96 and a current ratio of 1.44. General Dynamics Corporation has a 52 week low of $306.77 and a 52 week high of $400.00. The stock has a market capitalization of $106.99 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 2.29 and a beta of 0.32. The stock has a fifty day moving average of $370.17 and a 200-day moving average of $354.64.
General Dynamics Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 9th will be issued a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, October 9th. General Dynamics’s payout ratio is 38.80%.
Insider Activity
In other news, Director Mark Malcolm sold 5,480 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total value of $2,000,200.00. Following the completion of the transaction, the director owned 10,643 shares of the company’s stock, valued at $3,884,695. This represents a 33.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Phebe N. Novakovic sold 51,568 shares of General Dynamics stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $382.58, for a total transaction of $19,728,885.44. Following the sale, the chief executive officer owned 766,457 shares in the company, valued at approximately $293,231,119.06. This represents a 6.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 100,228 shares of company stock valued at $38,052,853 over the last quarter. 1.40% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. UBS Group upped their price objective on General Dynamics from $366.00 to $395.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $384.00 target price on shares of General Dynamics in a research report on Thursday, July 30th. BNP Paribas Exane boosted their target price on General Dynamics from $390.00 to $430.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Sanford C. Bernstein restated a “market perform” rating and issued a $421.00 price target on shares of General Dynamics in a research note on Monday, August 10th. Finally, DA Davidson decreased their price target on shares of General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and a consensus price target of $410.89.
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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