Mirae Asset Global Investments Co. Ltd. Acquires 2,786 Shares of General Dynamics Corporation (NYSE:GD)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,434 shares of the aerospace company's stock after acquiring an additional 2,786 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in General Dynamics were worth $10,073,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp increased its holdings in shares of General Dynamics by 45.4% during the 4th quarter. Jones Financial Companies Lllp now owns 80,565 shares of the aerospace company's stock valued at $21,228,000 after acquiring an additional 25,144 shares during the last quarter. Renasant Bank grew its holdings in General Dynamics by 46.8% in the 4th quarter. Renasant Bank now owns 3,258 shares of the aerospace company's stock valued at $858,000 after buying an additional 1,038 shares during the last quarter. Advisory Resource Group grew its holdings in General Dynamics by 7.1% in the 1st quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company's stock valued at $5,234,000 after buying an additional 1,276 shares during the last quarter. Retirement Guys Formula LLC acquired a new stake in General Dynamics in the 1st quarter valued at approximately $1,692,000. Finally, Quantbot Technologies LP grew its holdings in General Dynamics by 990.0% in the 4th quarter. Quantbot Technologies LP now owns 66,557 shares of the aerospace company's stock valued at $17,537,000 after buying an additional 60,451 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GD has been the topic of several recent analyst reports. UBS Group boosted their price target on General Dynamics from $268.00 to $279.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. TD Securities boosted their price target on General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. TD Cowen boosted their price target on General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Wells Fargo & Company decreased their price target on General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, Morgan Stanley cut their price objective on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $290.24.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of the stock in a transaction 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is owned by insiders.

General Dynamics Stock Performance

Shares of NYSE GD traded up $2.58 during midday trading on Tuesday, hitting $294.24. 1,468,655 shares of the company's stock were exchanged, compared to its average volume of 1,396,921. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.33. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $316.90. The company's 50 day moving average price is $276.93 and its 200 day moving average price is $267.29. The firm has a market capitalization of $78.97 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.96 and a beta of 0.46.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.23. The business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.92 billion. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The firm's quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.88 EPS. As a group, analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics's payout ratio is 41.61%.

General Dynamics Company 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.