Mach 1 Financial Group LLC Purchases Shares of 3,678 General Dynamics Corporation $GD

Key Points

• Mach 1 Financial Group LLC disclosed a new fourth-quarter stake in General Dynamics, buying 3,678 shares valued at about $1.24 million.
• General Dynamics reported better-than-expected quarterly results, posting $4.10 EPS versus the $3.67 estimate 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 currently rate the stock Moderate Buy with an average price target of $387.40.

Mach 1 Financial Group LLC purchased a new stake in General Dynamics Corporation (NYSE:GD - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,678 shares of the aerospace company's stock, valued at approximately $1,238,000.

A number of other large investors have also recently added to or reduced their stakes in GD. Brighton Jones LLC raised its position in shares of General Dynamics by 16.9% in the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company's stock valued at $760,000 after purchasing an additional 417 shares during the period. Acadian Asset Management LLC raised its position in shares of General Dynamics by 140.2% in the first quarter. Acadian Asset Management LLC now owns 3,445 shares of the aerospace company's stock valued at $938,000 after purchasing an additional 2,011 shares during the period. Sivia Capital Partners LLC bought a new position in shares of General Dynamics in the second quarter valued at about $240,000. Flow Traders U.S. LLC bought a new position in shares of General Dynamics in the second quarter valued at about $352,000. Finally, Jump Financial LLC bought a new position in shares of General Dynamics in the second quarter valued at about $1,284,000. Institutional investors and hedge funds own 86.14% of the company's stock.

Insider Buying and Selling at General Dynamics

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

General Dynamics Price Performance

GD stock opened at $339.54 on Thursday. 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 Corporation has a 12 month low of $268.10 and a 12 month high of $369.70. The firm has a market cap of $91.82 billion, a P/E ratio of 21.37, a P/E/G ratio of 2.11 and a beta of 0.34. The company's 50-day moving average price is $342.29 and its two-hundred day moving average price is $346.54.

General Dynamics (NYSE:GD - Get Free Report) last released its 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 net margin of 8.07% and a return on equity of 17.41%. The firm had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. During the same period last year, the firm earned $3.66 EPS. The business's quarterly revenue was up 10.3% compared to the same quarter last year. On average, analysts anticipate that General Dynamics Corporation will post 16.62 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 10th were issued a $1.59 dividend. The ex-dividend date of this dividend was Friday, April 10th. This represents a $6.36 annualized dividend and a yield of 1.9%. This is an increase from General Dynamics's previous quarterly dividend of $1.50. General Dynamics's payout ratio is 40.03%.

Analyst Ratings Changes

A number of equities analysts recently commented on GD shares. JPMorgan Chase & Co. raised their price target on shares of General Dynamics from $385.00 to $400.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. The Goldman Sachs Group lowered their price target on shares of General Dynamics from $327.00 to $313.00 and set a "sell" rating on the stock in a research report on Monday, May 4th. Jefferies Financial Group lowered their price target on shares of General Dynamics from $385.00 to $380.00 and set a "hold" rating on the stock in a research report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Dynamics from $387.00 to $377.00 and set a "hold" rating on the stock in a research report on Wednesday, May 6th. Finally, Argus raised their price target on shares of General Dynamics from $380.00 to $395.00 and gave the stock a "buy" rating in a research report on Thursday, February 19th. Two investment 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, General Dynamics currently has an average rating of "Moderate Buy" and an average target price of $387.40.

About General Dynamics

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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