JPMorgan Chase & Co. Has $1.50 Billion Position in General Dynamics Corporation (NYSE:GD)

Key Points

• JPMorgan Chase & Co. increased its stake in General Dynamics Corporation by 4.9%, owning approximately $1.50 billion worth of shares as of its latest SEC filing.
• Several analyst upgrades have occurred, with TD Cowen raising their price target from $290.00 to $300.00 and JPMorgan boosting theirs from $284.00 to $345.00.
• General Dynamics recently announced a quarterly dividend of $1.50 per share, reflecting an annualized dividend of $6.00 and a yield of 1.9%.

JPMorgan Chase & Co. boosted its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 4.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,502,305 shares of the aerospace company's stock after purchasing an additional 256,687 shares during the quarter. JPMorgan Chase & Co. owned 2.05% of General Dynamics worth $1,499,819,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rialto Wealth Management LLC grew its stake in General Dynamics by 213.8% in the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after acquiring an additional 62 shares during the period. Inlight Wealth Management LLC acquired a new position in shares of General Dynamics in the 1st quarter valued at approximately $26,000. Copia Wealth Management acquired a new position in shares of General Dynamics in the 4th quarter valued at approximately $27,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of General Dynamics in the first quarter valued at approximately $27,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of General Dynamics in the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 86.14% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GD shares. TD Cowen upped their price target on shares of General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Wolfe Research raised shares of General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 target price for the company in a research note on Thursday, July 24th. Sanford C. Bernstein set a $314.00 price objective on General Dynamics and gave the stock a "market perform" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. upped their price objective on General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, UBS Group upped their price target on General Dynamics from $309.00 to $333.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $315.78.

Insiders Place Their Bets

In related news, EVP Mark Lagrand Burns sold 43,860 shares of General Dynamics stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the completion of the sale, the executive vice president owned 39,875 shares of the company's stock, valued at approximately $12,452,165. The trade was a 52.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Leon Rudy F. De sold 5,490 shares of General Dynamics stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $312.81, for a total transaction of $1,717,326.90. Following the sale, the director directly owned 5,483 shares of the company's stock, valued at $1,715,137.23. The trade was a 50.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 268,370 shares of company stock valued at $78,408,011 over the last ninety days. 1.50% of the stock is currently owned by company insiders.

General Dynamics Trading Up 0.4%

General Dynamics stock opened at $313.98 on Friday. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $322.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. The stock has a market capitalization of $84.46 billion, a P/E ratio of 21.07, a PEG ratio of 1.93 and a beta of 0.48. The stock has a 50-day simple moving average of $294.78 and a 200 day simple moving average of $275.50.

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

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics's payout ratio is 40.27%.

General Dynamics Profile

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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