Quantinno Capital Management LP Grows Position in General Dynamics Corporation $GD

Key Points

• Quantinno Capital Management increased its General Dynamics stake by 22% in the first quarter, purchasing 73,358 additional shares. The firm ended the period with 406,153 shares worth approximately $139.4 million.
• Analysts maintain a generally positive outlook, with General Dynamics receiving a consensus “Moderate Buy” rating and an average price target of $391.15; recent targets range from $390 to $435.
• General Dynamics exceeded first-quarter expectations, reporting $4.10 in earnings per share and $13.48 billion in revenue, up 10.3% year over year. The company also declared a quarterly dividend of $1.59 per share, representing a 1.6% yield.

Quantinno Capital Management LP grew its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 22.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 406,153 shares of the aerospace company's stock after purchasing an additional 73,358 shares during the period. Quantinno Capital Management LP owned approximately 0.15% of General Dynamics worth $139,400,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Whipplewood Advisors LLC increased its holdings in shares of General Dynamics by 1,725.0% in the 1st quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company's stock valued at $25,000 after purchasing an additional 69 shares in the last quarter. Steph & Co. boosted its holdings in General Dynamics by 65.2% during the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company's stock worth $26,000 after buying an additional 30 shares in the last quarter. Scarborough Advisors LLC acquired a new position in General Dynamics during the first quarter worth about $29,000. Wilkerson Advisory Group LLC grew its position in General Dynamics by 79.6% during the first quarter. Wilkerson Advisory Group LLC now owns 88 shares of the aerospace company's stock worth $30,000 after buying an additional 39 shares during the period. Finally, Center for Financial Planning Inc. increased its holdings in General Dynamics by 220.7% in the fourth quarter. Center for Financial Planning Inc. now owns 93 shares of the aerospace company's stock valued at $31,000 after buying an additional 64 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on General Dynamics from $385.00 to $400.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Wells Fargo & Company initiated coverage on General Dynamics in a research note on Wednesday, April 1st. They issued an "overweight" rating and a $400.00 price objective for the company. BNP Paribas Exane reduced their price objective on General Dynamics from $430.00 to $390.00 and set an "outperform" rating for the company in a report on Thursday, April 30th. Wall Street Zen upgraded General Dynamics from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 13th. Finally, Morgan Stanley upped their target price on General Dynamics from $410.00 to $435.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $391.15.

General Dynamics Stock Up 0.6%

Shares of NYSE GD opened at $389.22 on Tuesday. The firm's 50-day moving average is $357.11 and its two-hundred day moving average is $351.94. The company has a market capitalization of $105.26 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 2.33 and a beta of 0.34. General Dynamics Corporation has a 12-month low of $306.03 and a 12-month high of $392.57. 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 quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, topping analysts' consensus estimates of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The business had revenue of $13.48 billion during the quarter, compared to analysts' expectations of $12.70 billion. During the same period last year, the company posted $3.66 EPS. The company's revenue was up 10.3% on a year-over-year basis. Equities analysts anticipate that General Dynamics Corporation will post 16.66 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be issued a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Thursday, July 2nd. General Dynamics's dividend payout ratio is 40.03%.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Mark Malcolm sold 5,480 shares of the firm's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the completion of the transaction, the director owned 10,643 shares of the company's stock, valued at approximately $3,884,695. This trade represents a 33.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark Lagrand Burns sold 36,480 shares of the business's stock in a transaction on Tuesday, May 12th. The stock was 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 of the company's stock, valued at approximately $13,457,677.75. This trade represents a 48.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 78,190 shares of company stock valued at $27,041,022 in the last three months. 1.40% of the stock is currently owned by company insiders.

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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