Mizuho Markets Americas LLC Has $1.26 Million Position in General Dynamics Corporation (NYSE:GD)

Key Points

• Mizuho Markets Americas LLC reduced its stake in General Dynamics by 47.5% in the first quarter, selling 4,180 shares and retaining 4,611 shares worth approximately $1.257 million.
• General Dynamics reported $3.74 earnings per share for the last quarter, exceeding analysts' expectations of $3.47, with a revenue of $13.04 billion.
• The company plans to pay a quarterly dividend of $1.50 on November 14th, which translates to an annualized dividend yield of 1.9%.

Mizuho Markets Americas LLC lessened its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 47.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,611 shares of the aerospace company's stock after selling 4,180 shares during the quarter. Mizuho Markets Americas LLC's holdings in General Dynamics were worth $1,257,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Capital Research Global Investors increased its holdings in shares of General Dynamics by 7.4% during 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 buying an additional 463,497 shares during the last quarter. JPMorgan Chase & Co. boosted its position in General Dynamics by 4.9% in the 1st quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company's stock valued at $1,499,819,000 after buying an additional 256,687 shares during the last quarter. Sanders Capital LLC boosted its position 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 valued at $1,109,931,000 after buying an additional 33,962 shares during the last quarter. Royal Bank of Canada boosted its position 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 valued at $773,355,000 after buying an additional 145,978 shares during the last quarter. Finally, Northern Trust Corp grew its stake in General Dynamics by 4.2% in the fourth 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. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Stock Down 0.3%

Shares of NYSE:GD traded down $0.94 during trading on Tuesday, reaching $314.00. 1,034,370 shares of the company traded hands, compared to its average volume of 1,266,210. The firm has a fifty day simple moving average of $296.33 and a 200 day simple moving average of $276.16. The firm has a market cap of $84.46 billion, a P/E ratio of 21.07, a price-to-earnings-growth ratio of 1.93 and a beta of 0.48. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $322.50. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32.

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

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, October 10th. General Dynamics's dividend payout ratio (DPR) is 40.27%.

Insider Activity

In other news, EVP Mark Lagrand Burns sold 43,860 shares of the business's 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Phebe N. Novakovic sold 178,821 shares of the business's stock in a transaction dated 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 approximately $217,898,829.91. The trade was a 18.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 302,110 shares of company stock worth $89,042,859. Insiders own 1.50% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Jefferies Financial Group set a $325.00 price target on General Dynamics and gave the stock a "hold" rating in a research note on Wednesday, July 9th. Robert W. Baird raised their price target on shares of General Dynamics from $283.00 to $350.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. TD Securities raised their price target on shares of General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Cowen reiterated a "buy" rating on shares of General Dynamics in a research note on Wednesday, June 25th. Finally, TD Cowen lifted their price target on shares of General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $315.78.

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.