General Dynamics Corporation $GD Stock Position Increased by Swiss National Bank

Key Points

• Swiss National Bank increased its General Dynamics stake by 7.6% in the first quarter, holding 673,826 shares valued at about $231.3 million at quarter-end.
• General Dynamics reported strong first-quarter 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 announced a quarterly dividend of $1.59 per share, and analysts remain constructive overall, with a consensus Moderate Buy rating and an average price target of $391.15.

Swiss National Bank increased its position in General Dynamics Corporation (NYSE:GD - Free Report) by 7.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 673,826 shares of the aerospace company's stock after buying an additional 47,320 shares during the quarter. Swiss National Bank owned about 0.25% of General Dynamics worth $231,271,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Whipplewood Advisors LLC raised its holdings in shares of General Dynamics by 1,725.0% in the 1st quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company's stock worth $25,000 after purchasing an additional 69 shares in the last quarter. Dagco Inc. acquired a new position in General Dynamics in the fourth quarter worth approximately $25,000. Steph & Co. grew its position in General Dynamics by 65.2% in the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company's stock worth $26,000 after buying an additional 30 shares during the last quarter. Motiv8 Investments LLC acquired a new stake in shares of General Dynamics during the 4th quarter valued at $31,000. Finally, Center for Financial Planning Inc. boosted its stake in shares of General Dynamics by 220.7% during the 4th quarter. Center for Financial Planning Inc. now owns 93 shares of the aerospace company's stock worth $31,000 after acquiring an additional 64 shares in the last quarter. Institutional investors own 86.14% of the company's stock.

General Dynamics Price Performance

GD opened at $368.91 on Monday. The stock has a fifty day moving average of $352.73 and a 200-day moving average of $350.56. The firm has a market capitalization of $99.76 billion, a P/E ratio of 23.22, a PEG ratio of 2.22 and a beta of 0.34. General Dynamics Corporation has a 12-month low of $293.95 and a 12-month high of $380.71. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, beating analysts' consensus estimates of $3.67 by $0.43. The business had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.General Dynamics's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.66 earnings per share. Equities analysts forecast that General Dynamics Corporation will post 16.64 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be paid a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics's payout ratio is 40.03%.

Insider Transactions at General Dynamics

In other General Dynamics news, Director Mark Malcolm sold 5,480 shares of the company's 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 transaction, the director owned 10,643 shares in the company, valued at approximately $3,884,695. This represents a 33.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 owned 38,975 shares of the company's stock, valued at approximately $13,457,677.75. The trade was a 48.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 78,190 shares of company stock worth $27,041,022 in the last quarter. 1.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GD. Morgan Stanley boosted their target price on General Dynamics from $410.00 to $435.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Weiss Ratings upgraded General Dynamics from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 1st. Wells Fargo & Company started coverage on General Dynamics in a research note on Wednesday, April 1st. They issued an "overweight" rating and a $400.00 price target on the stock. Bank of America boosted their price objective on General Dynamics from $400.00 to $415.00 and gave the stock a "buy" rating in a report on Monday, July 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of General Dynamics from $385.00 to $400.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $391.15.

General Dynamics 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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