General Dynamics Corporation (NYSE:GD) Shares Bought by Deutsche Bank AG

Key Points

• Deutsche Bank AG significantly increased its stake in General Dynamics Corporation by 120.9%, acquiring an additional 690,349 shares, bringing its total ownership to approximately 1.26 million shares worth $343.87 million.
• General Dynamics reported a quarterly earnings per share of $3.74, exceeding analysts' expectations and showing an 8.9% revenue increase year-over-year, with total revenues of $13.04 billion.
• The company announced a quarterly dividend of $1.50 per share, with an annualized yield of 1.9%, which will be paid on November 14th to shareholders of record as of October 10th.

Deutsche Bank AG lifted its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 120.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,261,525 shares of the aerospace company's stock after acquiring an additional 690,349 shares during the period. Deutsche Bank AG owned 0.47% of General Dynamics worth $343,866,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GD. Rialto Wealth Management LLC increased its position in General Dynamics by 213.8% during the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock worth $25,000 after buying an additional 62 shares during the period. Inlight Wealth Management LLC acquired a new position in General Dynamics during the first quarter worth approximately $26,000. Copia Wealth Management acquired a new position in General Dynamics during the fourth quarter worth approximately $27,000. Smallwood Wealth Investment Management LLC acquired a new position in General Dynamics during the first quarter worth approximately $27,000. Finally, Heck Capital Advisors LLC acquired a new position in General Dynamics during the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 86.14% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Barclays boosted their target price on General Dynamics from $285.00 to $350.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Citigroup boosted their target price on General Dynamics from $348.00 to $368.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft raised General Dynamics from a "hold" rating to a "buy" rating and boosted their target price for the company from $298.00 to $342.00 in a report on Tuesday, July 8th. Finally, TD Securities boosted their target price on General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, April 24th. One investment 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $315.78.

Insider Activity

In related news, Director Leon Rudy F. De sold 5,490 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $312.81, for a total value of $1,717,326.90. Following the completion of the transaction, the director directly owned 5,483 shares in the company, valued at approximately $1,715,137.23. This represents a 50.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark Lagrand Burns sold 43,860 shares of the company's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $312.28, for a total value of $13,696,600.80. Following the completion of the transaction, the executive vice president owned 39,875 shares of the company's stock, valued at $12,452,165. The trade was a 52.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 268,370 shares of company stock worth $78,408,011 over the last three months. 1.50% of the stock is currently owned by corporate insiders.

General Dynamics Price Performance

GD traded up $1.25 during trading on Friday, reaching $313.98. 1,157,284 shares of the stock were exchanged, compared to its average volume of 1,263,103. The business's 50 day moving average price is $294.78 and its two-hundred day moving average price is $275.50. 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 price-to-earnings ratio of 21.07, a P/E/G ratio of 1.93 and a beta of 0.48. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $322.50.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.27. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%. The business had revenue of $13.04 billion for the quarter, compared to the consensus estimate of $12.13 billion. During the same period in the prior year, the business earned $3.26 earnings per share. The business's revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently disclosed 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 is Friday, October 10th. General Dynamics's dividend payout ratio is currently 40.27%.

General Dynamics Company Profile

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.