Corient Private Wealth LLC Grows Stock Holdings in General Dynamics Corporation $GD

Key Points

• Corient Private Wealth LLC increased its General Dynamics stake by 17.6% in the fourth quarter, adding 15,170 shares and bringing its total holding to 101,251 shares worth about $34.1 million.
• General Dynamics reported stronger-than-expected quarterly results, with EPS of $4.10 versus the $3.67 estimate and revenue of $13.48 billion versus $12.70 billion expected, while revenue rose 10.3% year over year.
• The company announced a quarterly dividend of $1.59 per share, payable August 7, implying an annualized yield of 1.8%; meanwhile, analysts currently rate the stock a consensus Moderate Buy with a target price of $388.40.

Corient Private Wealth LLC boosted its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 17.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 101,251 shares of the aerospace company's stock after acquiring an additional 15,170 shares during the period. Corient Private Wealth LLC's holdings in General Dynamics were worth $34,092,000 as of its most recent SEC filing.

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

General Dynamics Stock Performance

NYSE GD opened at $350.39 on Monday. The business has a 50 day moving average price of $341.10 and a 200 day moving average price of $347.30. The company has a market capitalization of $94.76 billion, a P/E ratio of 22.05, a PEG ratio of 2.17 and a beta of 0.34. General Dynamics Corporation has a 1-year low of $275.49 and a 1-year high of $369.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.43. The business had revenue of $13.48 billion for the quarter, compared to analysts' expectations of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The business's revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.66 earnings per share. Sell-side analysts expect that General Dynamics Corporation will post 16.62 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be paid a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics's dividend payout ratio (DPR) is presently 40.03%.

Insider Transactions at General Dynamics

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of General Dynamics 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 owned 38,975 shares in the company, valued at $13,457,677.75. The trade was a 48.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

GD has been the topic of a number of analyst reports. UBS Group upgraded General Dynamics from a "neutral" rating to a "buy" rating in a research note on Thursday, June 11th. Wall Street Zen upgraded General Dynamics from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 13th. JPMorgan Chase & Co. raised their target price on General Dynamics from $385.00 to $400.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. The Goldman Sachs Group decreased their target price on shares of General Dynamics from $327.00 to $313.00 and set a "sell" rating on the stock in a research report on Monday, May 4th. Finally, Jefferies Financial Group raised shares of General Dynamics from a "hold" rating to a "buy" rating and upped their price target for the stock from $380.00 to $400.00 in a research note on Thursday, June 11th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently 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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