Connor Clark & Lunn Investment Management Ltd. Boosts Holdings in General Dynamics Corporation (NYSE:GD)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in General Dynamics Corporation by 9.9%, now owning 74,269 shares valued at approximately $20.2 million.
• General Dynamics announced a quarterly dividend of $1.50 per share to be paid on November 14th, representing an annualized yield of 1.9%.
• Despite mixed ratings from analysts, the consensus rating for General Dynamics stock is a "Hold" with an average target price of $315.78.

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 9.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,269 shares of the aerospace company's stock after buying an additional 6,698 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in General Dynamics were worth $20,244,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GD. Rialto Wealth Management LLC grew its holdings in shares of General Dynamics by 213.8% during the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock worth $25,000 after acquiring an additional 62 shares during the period. Inlight Wealth Management LLC bought a new stake in shares of General Dynamics during the first quarter valued at approximately $26,000. Copia Wealth Management bought a new stake in General Dynamics in the 4th quarter worth approximately $27,000. Smallwood Wealth Investment Management LLC bought a new stake in General Dynamics in the 1st quarter worth approximately $27,000. Finally, Heck Capital Advisors LLC bought a new stake in General Dynamics in the 4th quarter worth approximately $28,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Dynamics

In other news, Director Leon Rudy F. De sold 5,490 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $312.81, for a total value of $1,717,326.90. Following the completion of the sale, the director owned 5,483 shares of the company's stock, valued at approximately $1,715,137.23. This represents a 50.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $315.20, for a total transaction of $10,634,848.00. Following the completion of the sale, the executive vice president directly owned 45,192 shares of the company's stock, valued at $14,244,518.40. The trade was a 42.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 302,110 shares of company stock worth $89,042,859 over the last quarter. 1.50% of the stock is currently owned by company insiders.

General Dynamics Trading Down 0.3%

GD stock traded down $0.94 during mid-day trading on Tuesday, reaching $314.00. The company had a trading volume of 1,034,370 shares, compared to its average volume of 1,266,210. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. The company has a market capitalization of $84.46 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 1.93 and a beta of 0.48. The firm has a 50 day moving average of $296.33 and a 200 day moving average of $276.16. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $322.50.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The firm had revenue of $13.04 billion during the quarter, compared to analysts' expectations of $12.13 billion. During the same quarter in the prior year, the company earned $3.26 EPS. The company's revenue was up 8.9% compared to the same quarter last year. On average, equities analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics's dividend payout ratio is presently 40.27%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GD. JPMorgan Chase & Co. lifted their price target on shares of General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Robert W. Baird lifted their target price on shares of General Dynamics from $283.00 to $350.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Deutsche Bank Aktiengesellschaft upgraded shares of General Dynamics from a "hold" rating to a "buy" rating and lifted their target price for the company from $298.00 to $342.00 in a research note on Tuesday, July 8th. UBS Group lifted their target price on shares of General Dynamics from $309.00 to $333.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, Sanford C. Bernstein set a $314.00 price target on shares of General Dynamics and gave the stock a "market perform" rating in a research note on Monday, July 14th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $315.78.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.