Brandywine Global Investment Management LLC Has $53.57 Million Stock Holdings in General Dynamics Corporation $GD

Key Points

• Brandywine Global Investment Management slightly cut its General Dynamics stake by 1.8% in the fourth quarter, but still held 159,113 shares worth about $53.6 million.
• General Dynamics reported better-than-expected quarterly results, posting EPS of $4.10 versus estimates of $3.67 and revenue of $13.48 billion versus expectations of $12.70 billion, with revenue up 10.3% year over year.
• The company announced a quarterly dividend of $1.59 per share, or $6.36 annualized, for a yield of about 1.8%, while analysts currently rate the stock Moderate Buy with an average price target of $387.40.

Brandywine Global Investment Management LLC trimmed its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 1.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 159,113 shares of the aerospace company's stock after selling 2,965 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.06% of General Dynamics worth $53,567,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of General Dynamics by 2.2% in 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 in the last quarter. Geode Capital Management LLC boosted its position in General Dynamics by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 6,065,462 shares of the aerospace company's stock valued at $2,039,742,000 after buying an additional 195,604 shares in the last quarter. JPMorgan Chase & Co. boosted its position in General Dynamics by 2.2% in the fourth quarter. JPMorgan Chase & Co. now owns 5,307,389 shares of the aerospace company's stock valued at $1,786,786,000 after buying an additional 114,647 shares in the last quarter. Ameriprise Financial Inc. grew its stake in General Dynamics by 5.4% during the third quarter. Ameriprise Financial Inc. now owns 3,627,155 shares of the aerospace company's stock worth $1,236,900,000 after buying an additional 187,435 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of General Dynamics by 35.0% during the third quarter. Northern Trust Corp now owns 3,332,917 shares of the aerospace company's stock worth $1,136,525,000 after buying an additional 863,392 shares in the last quarter. Institutional investors own 86.14% of the company's stock.

Insider Activity

In related news, EVP Marguerite Amy Gilliland sold 3,819 shares of the company's stock in a transaction on 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 owned 44,767 shares in the company, valued at $15,825,134.50. This represents a 7.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Phebe N. Novakovic sold 32,918 shares of General Dynamics 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 transaction, the chief executive officer owned 766,457 shares in the company, valued at approximately $271,394,759.13. This represents a 4.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.

General Dynamics Stock Performance

General Dynamics stock opened at $346.43 on Monday. The company has a market cap of $93.69 billion, a PE ratio of 21.80, a PEG ratio of 2.15 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 Corporation has a 1 year low of $268.10 and a 1 year high of $369.70. The company's 50-day moving average is $340.09 and its two-hundred day moving average is $346.34.

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, beating analysts' consensus estimates of $3.67 by $0.43. The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The firm's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.66 EPS. Equities analysts anticipate that General Dynamics Corporation will post 16.62 earnings per share for the current year.

General Dynamics Dividend Announcement

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

Wall Street Analyst Weigh In

GD has been the topic of a number of research analyst reports. The Goldman Sachs Group decreased their price target on General Dynamics from $327.00 to $313.00 and set a "sell" rating on the stock in a research report on Monday, May 4th. 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. UBS Group lowered their target price on General Dynamics from $385.00 to $371.00 and set a "neutral" rating for the company in a research note on Thursday, April 30th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $385.00 price target on shares of General Dynamics in a report on Thursday, April 30th. Finally, DA Davidson decreased their price objective on shares of General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $387.40.

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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