Deutsche Bank AG Purchases 102,208 Shares of General Dynamics Corporation $GD

Key Points

• Deutsche Bank AG increased its stake in General Dynamics by 12.2% in the fourth quarter, buying an additional 102,208 shares and bringing its holdings to 939,264 shares worth about $316.2 million.
• Several other institutional investors also boosted their positions, and institutions now own 86.14% of General Dynamics, underscoring strong professional ownership of the stock.
• Analysts remain broadly positive but have trimmed some price targets; General Dynamics currently carries a Moderate Buy consensus with an average target of $387.40, while the company also recently beat quarterly earnings and revenue estimates.

Deutsche Bank AG lifted its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 12.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 939,264 shares of the aerospace company's stock after acquiring an additional 102,208 shares during the period. Deutsche Bank AG owned approximately 0.35% of General Dynamics worth $316,213,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. WASHINGTON TRUST Co grew its position in shares of General Dynamics by 453.3% during the 3rd quarter. WASHINGTON TRUST Co now owns 9,418 shares of the aerospace company's stock valued at $3,212,000 after acquiring an additional 7,716 shares during the period. Vanguard Group Inc. grew its position in shares of General Dynamics by 2.2% during 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 acquiring an additional 528,769 shares during the period. Modern Wealth Management LLC grew its position in shares of General Dynamics by 114.7% during the 3rd quarter. Modern Wealth Management LLC now owns 6,124 shares of the aerospace company's stock valued at $2,088,000 after acquiring an additional 3,271 shares during the period. Jain Global LLC grew its position in shares of General Dynamics by 97.8% during the 3rd quarter. Jain Global LLC now owns 169,305 shares of the aerospace company's stock valued at $57,733,000 after acquiring an additional 83,692 shares during the period. Finally, M&T Bank Corp grew its position 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 valued at $35,273,000 after acquiring an additional 63,781 shares during the period. Institutional investors own 86.14% of the company's stock.

Wall Street Analyst Weigh In

GD has been the subject of a number of recent research reports. UBS Group cut their price objective on shares of General Dynamics from $385.00 to $371.00 and set a "neutral" rating for the company in a research report on Thursday, April 30th. Weiss Ratings cut shares of General Dynamics from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, May 19th. BNP Paribas Exane lowered their target price on shares of General Dynamics from $430.00 to $390.00 and set an "outperform" rating on the stock in a research note on Thursday, April 30th. Royal Bank Of Canada restated a "sector perform" rating and set a $385.00 target price on shares of General Dynamics in a research note on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Dynamics from $387.00 to $377.00 and set a "hold" rating on the stock in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, General Dynamics presently has an average rating of "Moderate Buy" and an average price target of $387.40.

Insider Buying and Selling

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of the business's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total value of $12,596,179.20. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by insiders.

General Dynamics Stock Down 1.2%

GD opened at $341.46 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. General Dynamics Corporation has a fifty-two week low of $268.10 and a fifty-two week high of $369.70. The firm's fifty day moving average is $339.82 and its 200 day moving average is $346.36. The stock has a market cap of $92.34 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 2.14 and a beta of 0.34.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 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 net margin of 8.07% and a return on equity of 17.41%. The business's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.66 EPS. On average, sell-side analysts forecast that General Dynamics Corporation will post 16.62 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business 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. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 annualized dividend and a yield of 1.9%. General Dynamics's payout ratio is presently 40.03%.

About General Dynamics

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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