3,960 Shares in General Dynamics Corporation $GD Purchased by Leonteq Securities AG

Key Points

• Leonteq Securities AG bought a new position in General Dynamics during the fourth quarter, acquiring 3,960 shares valued at about $1.33 million.
• General Dynamics reported strong quarterly results, with earnings of $4.10 per share versus estimates of $3.67 and revenue of $13.48 billion, beating expectations and rising 10.3% year over year.
• The company also raised its quarterly dividend to $1.59 per share, while Wall Street remains mostly positive with a consensus rating of Moderate Buy and an average price target of $387.40.

Leonteq Securities AG purchased a new position in shares of General Dynamics Corporation (NYSE:GD - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,960 shares of the aerospace company's stock, valued at approximately $1,333,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dunhill Financial LLC lifted its position in General Dynamics by 620.0% during the 3rd quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company's stock worth $25,000 after buying an additional 62 shares in the last quarter. KERR FINANCIAL PLANNING Corp acquired a new position in General Dynamics during the 3rd quarter worth about $25,000. Dagco Inc. acquired a new position in General Dynamics during the 4th quarter worth about $25,000. Burkett Financial Services LLC lifted its position in General Dynamics by 650.0% during the 3rd quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company's stock worth $26,000 after buying an additional 65 shares in the last quarter. Finally, Steph & Co. lifted its position in General Dynamics by 65.2% during the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company's stock worth $26,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

General Dynamics Stock Performance

Shares of NYSE:GD opened at $338.85 on Friday. The stock has a market capitalization of $91.64 billion, a P/E ratio of 21.32, a P/E/G ratio of 2.11 and a beta of 0.34. General Dynamics Corporation has a 1-year low of $268.10 and a 1-year high of $369.70. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average price of $341.96 and a two-hundred day moving average price of $346.50.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.43. The firm had revenue of $13.48 billion during the quarter, compared to analysts' expectations of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The company's quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted $3.66 EPS. Equities analysts predict that General Dynamics Corporation will post 16.62 earnings per share for the current year.

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 10th were paid a $1.59 dividend. This is a boost from General Dynamics's previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Friday, April 10th. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.9%. General Dynamics's dividend payout ratio (DPR) is currently 40.03%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Argus upped their price target on shares of General Dynamics from $380.00 to $395.00 and gave the stock a "buy" rating in a research report on Thursday, February 19th. JPMorgan Chase & Co. upped their price target on shares of General Dynamics from $385.00 to $400.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Morgan Stanley upped their price target on shares of General Dynamics from $410.00 to $435.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. DA Davidson dropped their price objective on General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Finally, The Goldman Sachs Group dropped their price objective on General Dynamics from $327.00 to $313.00 and set a "sell" rating for the company in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $387.40.

Insider Activity

In other news, CEO Phebe N. Novakovic sold 32,918 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 766,457 shares of the company's stock, valued at $271,394,759.13. This represents a 4.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Marguerite Amy Gilliland sold 3,819 shares of the company's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $353.50, for a total value of $1,350,016.50. Following the completion of the sale, the executive vice president directly owned 44,767 shares of the company's stock, valued at approximately $15,825,134.50. This trade represents a 7.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 119,600 shares of company stock valued at $41,650,580 in the last ninety days. 1.40% of the stock is owned by insiders.

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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