Meadowbrook Advisors Group LLC Takes $2.38 Million Position in General Dynamics Corporation $GD

Key Points

• Meadowbrook Advisors Group opened a new position in General Dynamics, buying 7,062 shares worth about $2.38 million, making GD its 21st-largest holding and about 1.3% of its portfolio.
• 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 announced a quarterly dividend of $1.59 per share, implying an annualized payout of $6.36 and a yield of 1.8%.

Meadowbrook Advisors Group LLC acquired a new position in shares of General Dynamics Corporation (NYSE:GD - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 7,062 shares of the aerospace company's stock, valued at approximately $2,377,000. General Dynamics accounts for about 1.3% of Meadowbrook Advisors Group LLC's portfolio, making the stock its 21st largest position.

Other hedge funds have also modified their holdings of the company. AQR Capital Management LLC increased 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 worth $567,372,000 after purchasing an additional 901,679 shares during the last quarter. Northern Trust Corp grew its stake in shares of General Dynamics by 35.0% during the 3rd quarter. Northern Trust Corp now owns 3,332,917 shares of the aerospace company's stock valued at $1,136,525,000 after buying an additional 863,392 shares during the period. Balyasny Asset Management L.P. grew its stake in shares of General Dynamics by 831.1% during the 3rd quarter. Balyasny Asset Management L.P. now owns 737,259 shares of the aerospace company's stock valued at $251,405,000 after buying an additional 658,081 shares during the period. SG Americas Securities LLC increased its holdings in shares of General Dynamics by 6,680.8% during the 4th quarter. SG Americas Securities LLC now owns 591,488 shares of the aerospace company's stock worth $199,130,000 after buying an additional 582,765 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of General Dynamics by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company's stock worth $8,338,169,000 after buying an additional 528,769 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Trading Up 0.1%

NYSE:GD opened at $350.39 on Friday. The business's 50-day moving average is $341.10 and its two-hundred day moving average is $347.20. The firm has a market capitalization of $94.76 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 2.17 and a beta of 0.34. General Dynamics Corporation has a 12 month low of $275.49 and a 12 month high of $369.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, topping 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 company had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $12.70 billion. During the same quarter in the prior year, the business earned $3.66 earnings per share. The company's revenue was up 10.3% compared to the same quarter last year. Research analysts predict that General Dynamics Corporation will post 16.62 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be issued a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Thursday, July 2nd. General Dynamics's dividend payout ratio is currently 40.03%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GD shares. Wall Street Zen raised General Dynamics from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 13th. Citigroup reduced their price objective on General Dynamics from $380.00 to $364.00 and set a "neutral" rating on the stock in a research note on Monday, May 18th. Wells Fargo & Company assumed coverage on General Dynamics in a report on Wednesday, April 1st. They set an "overweight" rating and a $400.00 target price for the company. Morgan Stanley increased their target price on shares of General Dynamics from $410.00 to $435.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a $385.00 price target on shares of General Dynamics in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $388.40.

Insider Activity at General Dynamics

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the company's stock in a transaction on 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 completion of the transaction, the executive vice president directly owned 38,975 shares in the company, valued at approximately $13,457,677.75. This represents a 48.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company's stock.

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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