IQ EQ FUND MANAGEMENT IRELAND Ltd Has $6.34 Million Stake in General Dynamics Corporation (NYSE:GD)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in General Dynamics Corporation by 25.0%, holding 23,250 shares worth approximately $6.34 million at the end of the first quarter.
• General Dynamics recently announced a quarterly dividend of $1.50 per share, translating to an annualized dividend yield of 1.9%.
• Analysts have varied opinions on General Dynamics, with target prices ranging from $236 to $368 reflecting a general consensus rating of "Hold" for the stock.

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 25.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,250 shares of the aerospace company's stock after purchasing an additional 4,650 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in General Dynamics were worth $6,337,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Capital Research Global Investors raised its stake in General Dynamics by 7.4% in the 4th quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company's stock worth $1,774,381,000 after purchasing an additional 463,497 shares in the last quarter. Sanders Capital LLC raised its stake in General Dynamics by 0.8% in the 4th quarter. Sanders Capital LLC now owns 4,212,422 shares of the aerospace company's stock worth $1,109,931,000 after purchasing an additional 33,962 shares in the last quarter. Royal Bank of Canada raised its stake in General Dynamics by 5.2% in the 4th quarter. Royal Bank of Canada now owns 2,935,046 shares of the aerospace company's stock worth $773,355,000 after purchasing an additional 145,978 shares in the last quarter. Northern Trust Corp raised its stake in General Dynamics by 4.2% in the 4th quarter. Northern Trust Corp now owns 2,606,137 shares of the aerospace company's stock worth $686,691,000 after purchasing an additional 103,870 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of General Dynamics by 10.6% in the 4th quarter. Invesco Ltd. now owns 2,428,644 shares of the aerospace company's stock valued at $639,923,000 after buying an additional 232,383 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on GD. Wells Fargo & Company dropped their target price on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. TD Cowen boosted their target price on shares of General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Citigroup boosted their target price on shares of General Dynamics from $348.00 to $368.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Robert W. Baird boosted their target price on shares of General Dynamics from $283.00 to $350.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, UBS Group boosted their target price on shares of General Dynamics from $309.00 to $333.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, General Dynamics has an average rating of "Hold" and a consensus price target of $315.78.

Insider Transactions at General Dynamics

In other news, EVP Mark Lagrand Burns sold 43,860 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $312.28, for a total value of $13,696,600.80. Following the transaction, the executive vice president owned 39,875 shares in the company, valued at approximately $12,452,165. The trade was a 52.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Phebe N. Novakovic sold 178,821 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the completion of the transaction, the chief executive officer owned 769,607 shares in the company, valued at $217,898,829.91. This trade represents a 18.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 268,370 shares of company stock worth $78,408,011. Company insiders own 1.50% of the company's stock.

General Dynamics Trading Down 0.4%

GD opened at $310.45 on Monday. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $322.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. The firm has a market capitalization of $83.51 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 1.90 and a beta of 0.48. The company's 50 day moving average price is $291.05 and its two-hundred day moving average price is $273.97.

General Dynamics (NYSE:GD - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The firm had revenue of $13.04 billion for the quarter, compared to analyst estimates of $12.13 billion. During the same period in the previous year, the firm posted $3.26 EPS. The company's revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, research analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be given a $1.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. General Dynamics's payout ratio is 40.27%.

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.

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