Arbejdsmarkedets Tillaegspension purchased a new position in General Dynamics Corporation (NYSE:GD – Free Report) during the 4th quarter, Holdings Channel reports. The fund purchased 69,581 shares of the aerospace company’s stock, valued at approximately $23,425,000.
Several other large investors also recently added to or reduced their stakes in the stock. New York Life Investment Management LLC raised its stake in General Dynamics by 1.4% in the fourth quarter. New York Life Investment Management LLC now owns 34,707 shares of the aerospace company’s stock valued at $11,684,000 after buying an additional 473 shares during the last quarter. Cornerstone Wealth Management LLC lifted its stake in shares of General Dynamics by 6.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 7,456 shares of the aerospace company’s stock worth $2,510,000 after buying an additional 474 shares during the period. Simmons Bank raised its stake in General Dynamics by 2.4% in the 4th quarter. Simmons Bank now owns 5,968 shares of the aerospace company’s stock worth $2,009,000 after acquiring an additional 140 shares during the last quarter. Western Wealth Management LLC lifted its position in General Dynamics by 41.1% during the 4th quarter. Western Wealth Management LLC now owns 2,981 shares of the aerospace company’s stock worth $1,004,000 after acquiring an additional 868 shares during the period. Finally, Allworth Financial LP lifted its position in General Dynamics by 1.4% during the 4th quarter. Allworth Financial LP now owns 54,700 shares of the aerospace company’s stock worth $18,415,000 after acquiring an additional 729 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.
General Dynamics Trading Down 1.9%
General Dynamics stock opened at $334.29 on Friday. The firm has a market cap of $90.40 billion, a PE ratio of 21.04, a P/E/G ratio of 2.11 and a beta of 0.34. General Dynamics Corporation has a 12 month low of $268.10 and a 12 month high of $369.70. The stock’s 50 day simple moving average is $343.59 and its two-hundred day simple moving average is $346.67. 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 Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 10th were given a dividend of $1.59 per share. This is a boost from General Dynamics’s previous quarterly dividend of $1.50. The ex-dividend date was Friday, April 10th. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.9%. General Dynamics’s payout ratio is 40.03%.
Insider Activity at General Dynamics
In other news, EVP Mark Lagrand Burns sold 36,480 shares of the company’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 directly owned 38,975 shares of the company’s stock, valued at $13,457,677.75. This represents a 48.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Phebe N. Novakovic sold 32,918 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $354.09, for a total value of $11,655,934.62. Following the sale, the chief executive officer owned 766,457 shares of the company’s stock, valued at approximately $271,394,759.13. This trade represents a 4.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 119,600 shares of company stock worth $41,650,580 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on GD. Morgan Stanley increased their price objective on General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Jefferies Financial Group dropped their target price on General Dynamics from $385.00 to $380.00 and set a “hold” rating on the stock in a research report on Tuesday, April 7th. Argus increased their price target on shares of General Dynamics from $380.00 to $395.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Dynamics from $387.00 to $377.00 and set a “hold” rating for the company in a research report on Wednesday, May 6th. Finally, DA Davidson dropped their price objective on shares of General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $388.20.
View Our Latest Stock 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.
Read More
- Five stocks we like better than General Dynamics
- Viking Sails to All-Time Highs—Fundamentals Signal More to Come
- Datavalut Gains Traction: 5 Reasons to Sell Now
- TMC Stock: Why This Pre-Revenue Miner Is Worth Watching
- The Power Grid Is Dying—Is It Time to Buy Its Replacement?
Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Corporation (NYSE:GD – Free Report).
Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.
