Assetmark Inc. Purchases 10,968 Shares of General Dynamics Corporation $GD

Key Points

• Assetmark Inc. boosted its stake in General Dynamics by 9.7% in the first quarter, buying 10,968 additional shares and bringing its total holding to 123,591 shares worth about $42.4 million.
• Wall Street sentiment is constructive: the stock carries a Moderate Buy consensus, with analysts setting an average target price of $391.15 after several recent rating updates, including UBS upgrading GD to Buy.
• General Dynamics reported strong quarterly results, beating earnings and revenue estimates with $4.10 EPS on $13.48 billion in revenue, and it also announced a quarterly dividend of $1.59 per share payable on August 7.

Assetmark Inc. increased its position in General Dynamics Corporation (NYSE:GD - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 123,591 shares of the aerospace company's stock after acquiring an additional 10,968 shares during the quarter. Assetmark Inc.'s holdings in General Dynamics were worth $42,419,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GD. KERR FINANCIAL PLANNING Corp bought a new stake in shares of General Dynamics in the third quarter valued at approximately $25,000. Whipplewood Advisors LLC grew its stake in General Dynamics by 1,725.0% in the 1st quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company's stock valued at $25,000 after buying an additional 69 shares in the last quarter. Dagco Inc. purchased a new position in General Dynamics in the 4th quarter valued at approximately $25,000. Steph & Co. raised its holdings in General Dynamics by 65.2% during the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company's stock valued at $26,000 after acquiring an additional 30 shares during the period. Finally, Motiv8 Investments LLC purchased a new stake in shares of General Dynamics during the fourth quarter worth $31,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $385.00 price objective on shares of General Dynamics in a research note on Thursday, April 30th. BNP Paribas Exane reduced their price target 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. UBS Group raised shares of General Dynamics from a "neutral" rating to a "buy" rating in a report on Thursday, June 11th. Wall Street Zen raised General Dynamics from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 13th. 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 research note on Monday, May 18th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, General Dynamics has an average rating of "Moderate Buy" and a consensus target price of $391.15.

Insider Buying and Selling at General Dynamics

In other news, Director Mark Malcolm sold 5,480 shares of the company's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the completion of the transaction, the director directly owned 10,643 shares of the company's stock, valued at approximately $3,884,695. This represents a 33.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark Lagrand Burns sold 36,480 shares of the firm's stock in a transaction dated 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 directly owned 38,975 shares in the company, valued at $13,457,677.75. The trade was a 48.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 78,190 shares of company stock valued at $27,041,022 in the last three months. 1.40% of the stock is currently owned by corporate insiders.

General Dynamics Stock Up 0.0%

GD opened at $368.91 on Friday. The company has a market cap of $99.76 billion, a P/E ratio of 23.22, a P/E/G ratio of 2.22 and a beta of 0.34. The business's 50-day moving average price is $352.73 and its 200-day moving average price is $350.49. 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 $293.95 and a 12 month high of $380.71.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The company had revenue of $13.48 billion during the quarter, compared to analysts' expectations of $12.70 billion. During the same period in the prior year, the business posted $3.66 EPS. General Dynamics's quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities analysts expect that General Dynamics Corporation will post 16.64 EPS for the current year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be given 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 is presently 40.03%.

General Dynamics 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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