Van ECK Associates Corp cut its holdings in General Dynamics Corporation (NYSE:GD – Free Report) by 10.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,081 shares of the aerospace company’s stock after selling 4,384 shares during the period. Van ECK Associates Corp’s holdings in General Dynamics were worth $13,490,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of GD. BlackRock Inc. bought a new stake in General Dynamics during the 2nd quarter valued at $6,840,590,000. Bank of America Corp DE bought a new position in shares of General Dynamics in the second quarter worth $2,603,527,000. Corient Private Wealth LP bought a new position in shares of General Dynamics in the second quarter worth $57,986,000. Bank of New York Mellon Corp purchased a new position in shares of General Dynamics in the second quarter valued at $429,073,000. Finally, AQR Capital Management LLC raised its stake 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 purchasing an additional 901,679 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.
General Dynamics Price Performance
NYSE:GD opened at $372.00 on Tuesday. General Dynamics Corporation has a 52-week low of $306.77 and a 52-week high of $400.00. The stock has a fifty day moving average of $377.02 and a 200 day moving average of $356.83. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.96 and a current ratio of 1.44. The firm has a market capitalization of $100.65 billion, a price-to-earnings ratio of 22.70, a P/E/G ratio of 2.19 and a beta of 0.32.
General Dynamics Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 9th will be paid a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 9th. General Dynamics’s dividend payout ratio (DPR) is currently 38.80%.
Insider Activity at General Dynamics
In other General Dynamics news, Director Mark Malcolm sold 5,480 shares of General Dynamics stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the completion of the sale, the director directly owned 10,643 shares in the company, valued at $3,884,695. The trade was a 33.99% decrease in their ownership of the stock. 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 that occurred on Friday, July 31st. The stock was sold at an average price of $378.04, for a total transaction of $16,323,767.20. Following the completion of the transaction, the executive vice president directly owned 44,767 shares of the company’s stock, valued at approximately $16,923,716.68. This represents a 49.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 100,228 shares of company stock valued at $38,052,853 over the last three months. 1.40% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on GD shares. Wall Street Zen cut General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Citigroup lifted their target price on General Dynamics from $364.00 to $404.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. TD Cowen increased their price target on shares of General Dynamics from $390.00 to $420.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Royal Bank Of Canada raised their price objective on shares of General Dynamics from $385.00 to $410.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Finally, UBS Group boosted their price objective on shares of General Dynamics from $366.00 to $395.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. One equities 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 assigned a Sell rating to the company’s stock. According to MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and an average target price of $410.89.
View Our Latest Analysis on General Dynamics
About General Dynamics
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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