General Dynamics Corporation $GD Stake Raised by AG2R LA Mondiale Gestion D Actifs

Key Points

• AG2R LA Mondiale Gestion D Actifs increased its General Dynamics stake by 34.2% in the fourth quarter, bringing its holdings to 11,988 shares valued at about $4.0 million.
• General Dynamics reported strong quarterly results, with EPS of $4.10 topping estimates and revenue of $13.48 billion also beating forecasts. Revenue rose 10.3% year over year.
• The company raised its quarterly dividend to $1.59 per share from $1.50, which annualizes to $6.36 per share and yields about 1.8%.

AG2R LA Mondiale Gestion D Actifs grew its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 34.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,988 shares of the aerospace company's stock after buying an additional 3,054 shares during the period. AG2R LA Mondiale Gestion D Actifs' holdings in General Dynamics were worth $4,036,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Dunhill Financial LLC raised its holdings 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 buying an additional 62 shares during the last quarter. KERR FINANCIAL PLANNING Corp bought a new stake in General Dynamics during the third quarter worth approximately $25,000. Dagco Inc. bought a new stake in General Dynamics during the fourth quarter worth approximately $25,000. Burkett Financial Services LLC raised its holdings in General Dynamics by 650.0% during the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company's stock worth $26,000 after purchasing an additional 65 shares in the last quarter. Finally, Steph & Co. raised its holdings in General Dynamics by 65.2% during the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company's stock worth $26,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 86.14% of the company's stock.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, EVP Marguerite Amy Gilliland sold 3,819 shares of General Dynamics stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $353.50, for a total transaction of $1,350,016.50. Following the transaction, the executive vice president directly owned 44,767 shares in the company, valued at approximately $15,825,134.50. The trade was a 7.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Lagrand Burns sold 10,153 shares of General Dynamics stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $354.95, for a total transaction of $3,603,807.35. Following the transaction, the executive vice president owned 38,975 shares in the company, valued at approximately $13,834,176.25. The trade was a 20.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 51,260 shares of company stock worth $18,133,971. 1.40% of the stock is owned by corporate insiders.

General Dynamics Trading Down 0.8%

General Dynamics stock opened at $343.90 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. The firm has a market cap of $93.00 billion, a price-to-earnings ratio of 21.64, a price-to-earnings-growth ratio of 2.15 and a beta of 0.34. General Dynamics Corporation has a 1 year low of $267.39 and a 1 year high of $369.70. The firm's 50 day moving average price is $345.38 and its two-hundred day moving average price is $346.78.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The firm's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.66 earnings per share. On average, research analysts predict that General Dynamics Corporation will post 16.62 EPS for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 10th were given a $1.59 dividend. This represents a $6.36 annualized dividend and a yield of 1.8%. This is a positive change from General Dynamics's previous quarterly dividend of $1.50. The ex-dividend date was Friday, April 10th. General Dynamics's dividend payout ratio (DPR) is presently 40.03%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Argus boosted their target price on General Dynamics from $380.00 to $395.00 and gave the stock a "buy" rating in a report on Thursday, February 19th. Wolfe Research boosted their target price on General Dynamics from $400.00 to $415.00 and gave the stock an "outperform" rating in a report on Monday, January 12th. UBS Group dropped their target price on General Dynamics from $385.00 to $371.00 and set a "neutral" rating on the stock in a report on Thursday, April 30th. Jefferies Financial Group dropped their target price on General Dynamics from $385.00 to $380.00 and set a "hold" rating on the stock in a report on Tuesday, April 7th. Finally, Wells Fargo & Company assumed coverage on General Dynamics in a report on Wednesday, April 1st. They set an "overweight" rating and a $400.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $388.20.

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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