General Dynamics Corporation (NYSE:GD) is Penserra Capital Management LLC's 4th Largest Position

Penserra Capital Management LLC lifted its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 20.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 430,998 shares of the aerospace company's stock after purchasing an additional 73,702 shares during the period. General Dynamics accounts for about 2.1% of Penserra Capital Management LLC's investment portfolio, making the stock its 4th biggest holding. Penserra Capital Management LLC owned about 0.16% of General Dynamics worth $117,481,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Renasant Bank lifted its position in General Dynamics by 46.8% during the 4th quarter. Renasant Bank now owns 3,258 shares of the aerospace company's stock valued at $858,000 after acquiring an additional 1,038 shares during the period. Retirement Guys Formula LLC bought a new stake in shares of General Dynamics during the first quarter valued at approximately $1,692,000. Advisory Resource Group increased its position in shares of General Dynamics by 7.1% during the first quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company's stock valued at $5,234,000 after acquiring an additional 1,276 shares in the last quarter. Quantbot Technologies LP increased its position in shares of General Dynamics by 990.0% during the fourth quarter. Quantbot Technologies LP now owns 66,557 shares of the aerospace company's stock valued at $17,537,000 after acquiring an additional 60,451 shares in the last quarter. Finally, Independent Advisor Alliance grew its stake in shares of General Dynamics by 4.1% in the fourth quarter. Independent Advisor Alliance now owns 24,328 shares of the aerospace company's stock worth $6,410,000 after acquiring an additional 955 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. UBS Group lifted their price target on shares of General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft upgraded shares of General Dynamics from a "hold" rating to a "buy" rating and boosted their target price for the company from $298.00 to $342.00 in a research report on Tuesday. Susquehanna boosted their target price on shares of General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a research report on Wednesday, April 2nd. Citigroup cut their target price on shares of General Dynamics from $335.00 to $330.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, Cowen restated a "buy" rating on shares of General Dynamics in a research report on Wednesday, June 25th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $293.00.

Insider Buying and Selling at General Dynamics

In related news, CEO Phebe N. Novakovic sold 7,639 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $280.44, for a total transaction of $2,142,281.16. Following the sale, the chief executive officer directly owned 769,607 shares in the company, valued at approximately $215,828,587.08. This represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.50% of the company's stock.

General Dynamics Trading Up 1.5%

Shares of NYSE GD traded up $4.32 during trading on Tuesday, hitting $298.97. 751,935 shares of the company were exchanged, compared to its average volume of 1,393,328. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $316.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.34. The company has a fifty day moving average price of $279.22 and a 200-day moving average price of $268.37. The firm has a market capitalization of $80.24 billion, a PE ratio of 20.73, a P/E/G ratio of 1.98 and a beta of 0.46.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.23. The firm had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.92 billion. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. General Dynamics's revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.88 EPS. As a group, equities research analysts expect that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a dividend of $1.50 per share. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.01%. General Dynamics's payout ratio is 41.61%.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.