iA Global Asset Management Inc. Increases Stake in General Dynamics Corporation $GD

Key Points

• iA Global Asset Management increased its stake in General Dynamics by 32.6% in the fourth quarter, bringing its holdings to 14,350 shares valued at about $4.83 million.
• General Dynamics reported better-than-expected quarterly results, with EPS of $4.10 versus $3.67 expected and revenue of $13.48 billion, up 10.3% year over year.
• The company also raised its quarterly dividend to $1.59 per share, while analysts maintain a consensus rating of Moderate Buy with an average price target of $388.20.

iA Global Asset Management Inc. boosted its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 32.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,350 shares of the aerospace company's stock after acquiring an additional 3,528 shares during the quarter. iA Global Asset Management Inc.'s holdings in General Dynamics were worth $4,831,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GD. AQR Capital Management LLC raised its position in General Dynamics by 118.3% during the third quarter. AQR Capital Management LLC now owns 1,663,847 shares of the aerospace company's stock valued at $567,372,000 after acquiring an additional 901,679 shares in the last quarter. Northern Trust Corp raised its position in General Dynamics by 35.0% during the third quarter. Northern Trust Corp now owns 3,332,917 shares of the aerospace company's stock valued at $1,136,525,000 after acquiring an additional 863,392 shares in the last quarter. Vanguard Group Inc. raised its position in General Dynamics by 2.9% during the third quarter. Vanguard Group Inc. now owns 24,238,561 shares of the aerospace company's stock valued at $8,265,349,000 after acquiring an additional 677,665 shares in the last quarter. Balyasny Asset Management L.P. raised its position in General Dynamics by 831.1% during the third quarter. Balyasny Asset Management L.P. now owns 737,259 shares of the aerospace company's stock valued at $251,405,000 after acquiring an additional 658,081 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in General Dynamics by 6,680.8% during the fourth quarter. SG Americas Securities LLC now owns 591,488 shares of the aerospace company's stock valued at $199,130,000 after acquiring an additional 582,765 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $334.29 on Monday. General Dynamics Corporation has a 52 week low of $268.10 and a 52 week high of $369.70. The business's fifty day simple moving average is $343.59 and its 200-day simple moving average is $346.63. The firm has a market cap of $90.40 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 2.07 and a beta of 0.34. 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 announced its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $12.70 billion. During the same quarter in the prior year, the company posted $3.66 EPS. The company's quarterly revenue was up 10.3% on a year-over-year basis. Equities analysts forecast that General Dynamics Corporation will post 16.62 earnings per share for the current year.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 10th were issued a $1.59 dividend. The ex-dividend date was Friday, April 10th. This represents a $6.36 annualized dividend and a dividend yield of 1.9%. This is a boost from General Dynamics's previous quarterly dividend of $1.50. General Dynamics's dividend payout ratio (DPR) is presently 40.03%.

Insider Activity at General Dynamics

In related news, EVP Mark Lagrand Burns sold 36,480 shares of the business's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total value of $12,596,179.20. Following the sale, the executive vice president owned 38,975 shares in the company, valued at approximately $13,457,677.75. The trade was a 48.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Phebe N. Novakovic sold 32,918 shares of the business's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $354.09, for a total value of $11,655,934.62. Following the completion of the sale, the chief executive officer owned 766,457 shares in the company, valued at $271,394,759.13. This represents a 4.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 119,600 shares of company stock worth $41,650,580. 1.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Argus raised their price objective on General Dynamics from $380.00 to $395.00 and gave the company a "buy" rating in a report on Thursday, February 19th. UBS Group lowered their price target on General Dynamics from $385.00 to $371.00 and set a "neutral" rating on the stock in a research note on Thursday, April 30th. The Goldman Sachs Group lowered their price target on General Dynamics from $327.00 to $313.00 and set a "sell" rating on the stock in a research note on Monday, May 4th. Wells Fargo & Company assumed 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. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of General Dynamics in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $388.20.

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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