69,581 Shares in General Dynamics Corporation $GD Bought by Arbejdsmarkedets Tillaegspension

Key Points

• Arbejdsmarkedets Tillaegspension opened a new position in General Dynamics, buying 69,581 shares valued at about $23.4 million in the fourth quarter.
• General Dynamics reported better-than-expected quarterly results, posting $4.10 EPS on $13.48 billion in revenue, with revenue up 10.3% year over year. The company also raised its quarterly dividend to $1.59 per share, or $6.36 annually.
• Despite the operational strength, insider selling has been notable, including recent share sales by CEO Phebe N. Novakovic and EVP Mark Lagrand Burns. Wall Street remains constructive overall, with a consensus Moderate Buy rating and an average price target of $388.20.

Arbejdsmarkedets Tillaegspension acquired a new position in shares of General Dynamics Corporation (NYSE:GD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 69,581 shares of the aerospace company's stock, valued at approximately $23,425,000.

Other hedge funds have also bought and sold shares of the company. Dunhill Financial LLC grew its stake in shares of General Dynamics by 620.0% during the third quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company's stock worth $25,000 after buying an additional 62 shares during the last quarter. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of General Dynamics during the 3rd quarter valued at $25,000. Dagco Inc. bought a new stake in General Dynamics during the 4th quarter worth $25,000. Burkett Financial Services LLC increased its holdings in General Dynamics by 650.0% in the 3rd quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company's stock worth $26,000 after purchasing an additional 65 shares in the last quarter. Finally, Steph & Co. raised its position in General Dynamics by 65.2% in the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company's stock valued at $26,000 after purchasing an additional 30 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at General Dynamics

In related news, CEO Phebe N. Novakovic sold 32,918 shares of General Dynamics stock in a transaction on Wednesday, March 11th. The shares were 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 in the company, valued at $271,394,759.13. The trade was a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Lagrand Burns sold 36,480 shares of the firm's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total value of $12,596,179.20. Following 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 119,600 shares of company stock worth $41,650,580. Insiders own 1.40% of the company's stock.

General Dynamics Price Performance

Shares of NYSE GD opened at $334.29 on Friday. The stock has a fifty day simple moving average of $343.59 and a two-hundred day simple moving average of $346.67. General Dynamics Corporation has a 1-year low of $268.10 and a 1-year high of $369.70. The firm has a market cap of $90.40 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 2.11 and a beta of 0.34. 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 (NYSE:GD - Get Free Report) last posted its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, beating analysts' consensus estimates of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The business 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 firm earned $3.66 EPS. The company's quarterly revenue was up 10.3% compared to the same quarter last year. Analysts anticipate 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. Shareholders of record on Friday, April 10th were paid a $1.59 dividend. This is an increase 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 yield of 1.9%. General Dynamics's payout ratio is presently 40.03%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GD. Morgan Stanley lifted their target price 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. Wall Street Zen upgraded shares of General Dynamics from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 10th. DA Davidson decreased their price objective on General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Bank of America reaffirmed a "buy" rating and set a $400.00 target price on shares of General Dynamics in a report on Friday, January 30th. Finally, Citigroup decreased their price target on General Dynamics from $389.00 to $380.00 and set a "neutral" rating for the company in a research note on Wednesday, April 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $388.20.

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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