General Dynamics Corporation $GD Shares Sold by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets reduced its General Dynamics stake by 12.2% in the fourth quarter, selling 90,024 shares and leaving it with 645,133 shares valued at about $217.2 million.
• General Dynamics reported strong quarterly results, with EPS of $4.10 beating estimates and revenue of $13.48 billion topping expectations, while revenue rose 10.3% year over year.
• The company also raised its quarterly dividend to $1.59 per share from $1.50, and Wall Street maintains a Moderate Buy consensus with an average price target of $387.40.

BNP Paribas Financial Markets decreased its position in General Dynamics Corporation (NYSE:GD - Free Report) by 12.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 645,133 shares of the aerospace company's stock after selling 90,024 shares during the period. BNP Paribas Financial Markets owned about 0.24% of General Dynamics worth $217,190,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Dunhill Financial LLC boosted its stake in shares of General Dynamics by 620.0% during the third quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company's stock valued at $25,000 after acquiring an additional 62 shares during the last quarter. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of General Dynamics during the third quarter valued at $25,000. Dagco Inc. acquired a new stake in shares of General Dynamics during the fourth quarter valued at $25,000. Burkett Financial Services LLC boosted its stake in shares of General Dynamics by 650.0% during the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company's stock valued at $26,000 after acquiring an additional 65 shares during the last quarter. Finally, Steph & Co. boosted its stake in shares of General Dynamics by 65.2% during the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company's stock valued at $26,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

General Dynamics Trading Down 0.7%

NYSE:GD opened at $346.47 on Friday. General Dynamics Corporation has a 12-month low of $268.10 and a 12-month high of $369.70. The firm has a market capitalization of $93.69 billion, a P/E ratio of 21.80, a P/E/G ratio of 2.15 and a beta of 0.34. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90. The business has a 50 day simple moving average of $340.85 and a 200 day simple moving average of $346.56.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The business had revenue of $13.48 billion during the quarter, compared to analyst estimates of $12.70 billion. During the same quarter in the previous year, the firm posted $3.66 EPS. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts predict that General Dynamics Corporation will post 16.62 EPS for the current year.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 10th were given a dividend of $1.59 per share. The ex-dividend date was Friday, April 10th. This represents a $6.36 dividend on an annualized basis and a yield of 1.8%. This is an increase from General Dynamics's previous quarterly dividend of $1.50. General Dynamics's payout ratio is presently 40.03%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GD. Deutsche Bank Aktiengesellschaft decreased their price objective on General Dynamics from $387.00 to $377.00 and set a "hold" rating on the stock in a research note on Wednesday, May 6th. BNP Paribas Exane cut their price objective on General Dynamics from $430.00 to $390.00 and set an "outperform" rating on the stock in a report on Thursday, April 30th. JPMorgan Chase & Co. raised their price objective on General Dynamics from $385.00 to $400.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. The Goldman Sachs Group dropped their target price on General Dynamics from $327.00 to $313.00 and set a "sell" rating on the stock in a report on Monday, May 4th. Finally, Wall Street Zen downgraded General Dynamics from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $387.40.

Insider Activity at General Dynamics

In related news, CEO Phebe N. Novakovic sold 32,918 shares of the business's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $354.09, for a total transaction of $11,655,934.62. Following the completion of the transaction, the chief executive officer owned 766,457 shares in the company, valued at $271,394,759.13. The trade was a 4.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Lagrand Burns sold 36,480 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president owned 38,975 shares of the company's stock, valued at $13,457,677.75. This represents a 48.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 119,600 shares of company stock worth $41,650,580 in the last 90 days. 1.40% of the stock is currently owned by company insiders.

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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