Alberta Investment Management Corp Buys 13,067 Shares of General Dynamics Corporation $GD

Key Points

• Alberta Investment Management Corp increased its General Dynamics stake by 141.8% in the fourth quarter, buying 13,067 additional shares to bring its total holding to 22,279 shares worth about $7.5 million.
• General Dynamics beat quarterly earnings and revenue estimates, reporting $4.10 EPS versus $3.67 expected and $13.48 billion in revenue versus $12.70 billion expected; revenue rose 10.3% year over year.
• The company also declared a quarterly dividend of $1.59 per share, implying an annualized payout of $6.36 and a yield of about 1.7%.

Alberta Investment Management Corp boosted its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 141.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,279 shares of the aerospace company's stock after purchasing an additional 13,067 shares during the period. Alberta Investment Management Corp's holdings in General Dynamics were worth $7,500,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. WASHINGTON TRUST Co lifted its holdings in General Dynamics by 453.3% in the third quarter. WASHINGTON TRUST Co now owns 9,418 shares of the aerospace company's stock valued at $3,212,000 after acquiring an additional 7,716 shares during the period. Vanguard Group Inc. grew its stake in shares of General Dynamics by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company's stock valued at $8,338,169,000 after purchasing an additional 528,769 shares during the period. Modern Wealth Management LLC grew its stake in shares of General Dynamics by 114.7% during the 3rd quarter. Modern Wealth Management LLC now owns 6,124 shares of the aerospace company's stock valued at $2,088,000 after purchasing an additional 3,271 shares during the period. Jain Global LLC increased its position in shares of General Dynamics by 97.8% during the 3rd quarter. Jain Global LLC now owns 169,305 shares of the aerospace company's stock valued at $57,733,000 after purchasing an additional 83,692 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in shares of General Dynamics by 155.6% in the 4th quarter. M&T Bank Corp now owns 104,773 shares of the aerospace company's stock worth $35,273,000 after purchasing an additional 63,781 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Price Performance

NYSE GD opened at $364.45 on Wednesday. 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 Corporation has a 12 month low of $275.49 and a 12 month high of $369.70. The stock has a market cap of $98.56 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 2.23 and a beta of 0.34. The company's 50 day moving average is $340.82 and its two-hundred day moving average is $346.95.

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

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be issued a $1.59 dividend. 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 is currently 40.03%.

Insider Transactions at General Dynamics

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total value of $12,596,179.20. Following the completion of the sale, the executive vice president owned 38,975 shares in the company, valued at approximately $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 accessible through the SEC website. Insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

GD has been the subject of several recent research reports. Morgan Stanley boosted their target price on shares of General Dynamics from $410.00 to $435.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. increased 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. BNP Paribas Exane cut their price objective on shares of General Dynamics from $430.00 to $390.00 and set an "outperform" rating for the company in a research report on Thursday, April 30th. Weiss Ratings lowered General Dynamics from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, May 19th. Finally, Citigroup decreased their target price on General Dynamics from $380.00 to $364.00 and set a "neutral" rating on the stock in a report on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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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