General Dynamics Corporation $GD Shares Sold by Fairvoy Private Wealth LLC

Key Points

• Fairvoy Private Wealth LLC reduced its General Dynamics stake by 26% in the first quarter, selling 3,391 shares and leaving it with 9,662 shares worth about $3.3 million.
• Several other institutional investors remain heavily invested in the defense contractor, and 86.14% of General Dynamics stock is held by institutions and hedge funds.
• The company posted better-than-expected quarterly results, with EPS of $4.10 versus $3.67 expected and revenue of $13.48 billion, while also declaring a quarterly dividend of $1.59 per share.

Fairvoy Private Wealth LLC cut its position in General Dynamics Corporation (NYSE:GD - Free Report) by 26.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,662 shares of the aerospace company's stock after selling 3,391 shares during the period. Fairvoy Private Wealth LLC's holdings in General Dynamics were worth $3,316,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in General Dynamics by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company's stock valued at $8,338,169,000 after buying an additional 528,769 shares during the last quarter. State Street Corp lifted its holdings in General Dynamics by 2.7% during the 4th quarter. State Street Corp now owns 11,323,170 shares of the aerospace company's stock worth $3,812,058,000 after buying an additional 294,456 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of General Dynamics by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 6,065,462 shares of the aerospace company's stock worth $2,039,742,000 after acquiring an additional 195,604 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of General Dynamics by 2.2% during the 4th quarter. JPMorgan Chase & Co. now owns 5,307,389 shares of the aerospace company's stock worth $1,786,786,000 after acquiring an additional 114,647 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of General Dynamics by 5.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,627,155 shares of the aerospace company's stock valued at $1,236,900,000 after acquiring an additional 187,435 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at General Dynamics

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the sale, the executive vice president directly owned 38,975 shares of the company's stock, valued at approximately $13,457,677.75. This trade represents a 48.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Malcolm sold 5,480 shares of General Dynamics stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total value of $2,000,200.00. Following the completion of the transaction, the director owned 10,643 shares in the company, valued at $3,884,695. This trade represents a 33.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 78,190 shares of company stock worth $27,041,022. Corporate insiders own 1.40% of the company's stock.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $344.19 on Friday. The firm's fifty day simple moving average is $341.57 and its 200-day simple moving average is $347.51. General Dynamics Corporation has a 12 month low of $286.36 and a 12 month high of $369.70. The stock has a market capitalization of $93.08 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 2.13 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.

General Dynamics (NYSE:GD - Get Free Report) last issued 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 company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. General Dynamics's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $3.66 EPS. As a group, equities analysts forecast that General Dynamics Corporation will post 16.63 earnings per share for the current year.

General Dynamics Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. BNP Paribas Exane decreased their target price on General Dynamics from $430.00 to $390.00 and set an "outperform" rating for the company in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft dropped their price target 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. Wall Street Zen upgraded shares of General Dynamics from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 13th. Morgan Stanley upped their target price on shares of General Dynamics from $410.00 to $435.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Finally, The Goldman Sachs Group dropped 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. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $388.40.

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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