10,107 Shares in General Dynamics Corporation $GD Bought by Cornerstone Planning LLC

Key Points

• Cornerstone Planning LLC disclosed a new fourth-quarter position in General Dynamics, buying 10,107 shares valued at about $3.4 million.
• General Dynamics reported strong quarterly results, with EPS of $4.10 beating estimates and revenue of $13.48 billion topping forecasts, while revenue rose 10.3% year over year.
• The company announced a quarterly dividend of $1.59 per share, equal to an annualized payout of $6.36 and a yield of about 1.8%.

Cornerstone Planning LLC acquired a new position in General Dynamics Corporation (NYSE:GD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,107 shares of the aerospace company's stock, valued at approximately $3,416,000.

Other large investors have also modified their holdings of the company. Dunhill Financial LLC raised its holdings in General Dynamics by 620.0% in the 3rd quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company's stock worth $25,000 after acquiring an additional 62 shares during the period. KERR FINANCIAL PLANNING Corp bought a new stake in General Dynamics during the third quarter valued at about $25,000. Dagco Inc. bought a new stake in General Dynamics during the fourth quarter valued at about $25,000. Burkett Financial Services LLC grew its position in shares of 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 purchasing an additional 65 shares during the last quarter. Finally, Steph & Co. increased its stake in shares of General Dynamics by 65.2% in the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company's stock worth $26,000 after purchasing an additional 30 shares during the period. 86.14% of the stock is owned by institutional investors.

Insider Transactions at General Dynamics

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of the firm's stock in a transaction dated 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 in the company, valued at $13,457,677.75. This trade represents a 48.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is owned by company insiders.

General Dynamics Stock Up 0.1%

Shares of GD stock opened at $350.39 on Friday. General Dynamics Corporation has a one year low of $275.49 and a one year high of $369.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90. The stock has a fifty day moving average price of $341.10 and a 200 day moving average price of $347.20. The stock has a market cap of $94.76 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 2.17 and a beta of 0.34.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $12.70 billion. During the same quarter in the previous year, the firm posted $3.66 EPS. The business's revenue for the quarter was up 10.3% on a year-over-year basis. Analysts predict that General Dynamics Corporation will post 16.62 earnings per share for the current year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be paid a $1.59 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $6.36 dividend on an annualized basis and a yield of 1.8%. General Dynamics's payout ratio is presently 40.03%.

Analyst Ratings Changes

Several equities analysts recently weighed in on GD shares. Deutsche Bank Aktiengesellschaft cut their price objective on General Dynamics from $387.00 to $377.00 and set a "hold" rating for the company in a research report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price target on General Dynamics from $385.00 to $400.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $385.00 price objective on shares of General Dynamics in a research report on Thursday, April 30th. Citigroup lowered their price objective on shares of General Dynamics from $380.00 to $364.00 and set a "neutral" rating on the stock in a research note on Monday, May 18th. Finally, UBS Group raised shares of General Dynamics from a "neutral" rating to a "buy" rating in a research report on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $388.40.

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.

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