Pictet Asset Management Holding SA lowered its holdings in General Dynamics Corporation (NYSE:GD – Free Report) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,647 shares of the aerospace company’s stock after selling 2,606 shares during the quarter. Pictet Asset Management Holding SA’s holdings in General Dynamics were worth $15,667,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. KERR FINANCIAL PLANNING Corp acquired a new position in shares of General Dynamics in the 3rd quarter worth approximately $25,000. Dagco Inc. acquired a new stake in General Dynamics in the 4th quarter valued at $25,000. Burkett Financial Services LLC grew its position in General Dynamics by 650.0% in the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 65 shares during the period. Steph & Co. boosted its stake in shares of General Dynamics by 65.2% in the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 30 shares in the last quarter. Finally, Center for Financial Planning Inc. grew its holdings in shares of General Dynamics by 220.7% in the 4th quarter. Center for Financial Planning Inc. now owns 93 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 64 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.
Insiders Place Their Bets
In related news, Director Mark Malcolm sold 5,480 shares of the business’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 directly owned 10,643 shares in the company, valued at approximately $3,884,695. The trade was a 33.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Lagrand Burns sold 36,480 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were 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 of the company’s stock, valued at $13,457,677.75. This trade represents a 48.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 78,190 shares of company stock worth $27,041,022. Insiders own 1.40% of the company’s stock.
General Dynamics Stock Performance
General Dynamics (NYSE:GD – Get Free Report) last released its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $12.70 billion. During the same quarter in the previous year, the business earned $3.66 EPS. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. Equities analysts anticipate that General Dynamics Corporation will post 16.63 earnings per share for the current year.
General Dynamics Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be paid a dividend of $1.59 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $6.36 annualized dividend and a yield of 1.7%. General Dynamics’s dividend payout ratio (DPR) is presently 40.03%.
Analyst Ratings Changes
Several brokerages recently issued reports on GD. UBS Group raised shares of General Dynamics from a “neutral” rating to a “buy” rating in a report on Thursday, June 11th. Jefferies Financial Group raised shares of General Dynamics from a “hold” rating to a “buy” rating and upped their price objective for the stock from $380.00 to $400.00 in a research note on Thursday, June 11th. BNP Paribas Exane cut their target price on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a research note on Thursday, April 30th. JPMorgan Chase & Co. boosted their target price on General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, The Goldman Sachs Group decreased their price target on General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a research report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $388.40.
Get Our Latest Analysis on General Dynamics
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.
Read More
- Five stocks we like better than General Dynamics
- Shorting the Grid: Bloom Energy’s $25B AI Power Play
- SanDisk’s Volatility May Be Telling Bulls What They Want to Hear
- Meta’s AI Compute Push Could Turn Its Massive CapEx Bill Into a Competitive Weapon
- 3 Dividend ETFs Built for Stability in a Volatile Market
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.
