Hsbc Holdings PLC boosted its position in General Dynamics Corporation (NYSE:GD – Free Report) by 55.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,062,295 shares of the aerospace company’s stock after purchasing an additional 378,266 shares during the period. Hsbc Holdings PLC’s holdings in General Dynamics were worth $376,022,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of GD. Jefferies Financial Group Inc. purchased a new position in shares of General Dynamics during the fourth quarter valued at approximately $7,914,000. Deutsche Bank AG lifted its stake in shares of General Dynamics by 12.2% during the 4th quarter. Deutsche Bank AG now owns 939,264 shares of the aerospace company’s stock worth $316,213,000 after purchasing an additional 102,208 shares during the period. Rayburn West Financial Services LLC purchased a new stake in shares of General Dynamics in the fourth quarter valued at $2,387,000. Professional Advisory Services Inc. increased its stake in General Dynamics by 4.0% in the second quarter. Professional Advisory Services Inc. now owns 67,028 shares of the aerospace company’s stock valued at $23,744,000 after purchasing an additional 2,562 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its stake in General Dynamics by 22.1% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 17,485 shares of the aerospace company’s stock worth $6,001,000 after buying an additional 3,159 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.
General Dynamics Stock Performance
Shares of NYSE GD opened at $376.49 on Wednesday. The stock has a market capitalization of $101.86 billion, a P/E ratio of 22.97, a P/E/G ratio of 2.22 and a beta of 0.33. The firm’s 50-day moving average price is $374.88 and its two-hundred day moving average price is $356.25. General Dynamics Corporation has a 52-week low of $306.77 and a 52-week high of $400.00. The company has a quick ratio of 0.96, a current ratio of 1.44 and a debt-to-equity ratio of 0.23.
General Dynamics Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 9th will be given a $1.59 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $6.36 annualized dividend and a yield of 1.7%. General Dynamics’s dividend payout ratio (DPR) is currently 38.80%.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on GD. Weiss Ratings raised shares of General Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. The Goldman Sachs Group cut their price objective on General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a report on Monday, May 4th. UBS Group boosted their target price on General Dynamics from $366.00 to $395.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Susquehanna raised their price target on shares of General Dynamics from $420.00 to $455.00 and gave the company a “positive” rating in a report on Thursday, July 30th. Finally, Wall Street Zen cut shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, General Dynamics currently has a consensus rating of “Moderate Buy” and an average target price of $410.89.
Check Out Our Latest Analysis on General Dynamics
Insider Buying and Selling at General Dynamics
In related news, CEO Phebe N. Novakovic sold 51,568 shares of General Dynamics stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $382.58, for a total value of $19,728,885.44. Following the sale, the chief executive officer directly owned 766,457 shares in the company, valued at $293,231,119.06. This trade represents a 6.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Marguerite Amy Gilliland sold 43,180 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $378.04, for a total transaction of $16,323,767.20. Following the transaction, the executive vice president directly owned 44,767 shares of the company’s stock, valued at $16,923,716.68. The trade was a 49.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 100,228 shares of company stock worth $38,052,853. 1.40% of the stock is owned by insiders.
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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