R Squared Ltd Acquires 3,183 Shares of General Dynamics Corporation $GD

Key Points

• R Squared Ltd increased its stake in General Dynamics by 280.4% in the first quarter, adding 3,183 shares and bringing its total holdings to 4,318 shares worth about $1.48 million.
• General Dynamics reported strong quarterly results, with EPS of $4.10 beating estimates and revenue of $13.48 billion topping forecasts; revenue also rose 10.3% year over year.
• The company raised its dividend to $1.59 per share quarterly, equal to a $6.36 annualized payout and a 1.7% yield, while analysts currently view the stock as a Moderate Buy on average.

R Squared Ltd grew its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 280.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,318 shares of the aerospace company's stock after acquiring an additional 3,183 shares during the quarter. General Dynamics accounts for 0.8% of R Squared Ltd's portfolio, making the stock its 17th largest holding. R Squared Ltd's holdings in General Dynamics were worth $1,482,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its position in General Dynamics by 16.9% in the 4th quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company's stock worth $760,000 after purchasing an additional 417 shares during the last quarter. Acadian Asset Management LLC lifted its stake 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 buying an additional 2,011 shares during the period. Sivia Capital Partners LLC acquired a new stake in General Dynamics during the second quarter worth about $240,000. Flow Traders U.S. LLC acquired a new stake in General Dynamics during the second quarter worth about $352,000. Finally, Jump Financial LLC bought a new position in General Dynamics during the second quarter valued at about $1,284,000. Institutional investors own 86.14% of the company's stock.

Insider Transactions at General Dynamics

In other General Dynamics news, Director Mark Malcolm sold 5,480 shares of the business's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total value of $2,000,200.00. Following the transaction, the director owned 10,643 shares of the company's stock, valued at approximately $3,884,695. The trade was a 33.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Lagrand Burns sold 36,480 shares of the company's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the transaction, the executive vice president owned 38,975 shares in the company, valued at approximately $13,457,677.75. This trade represents a 48.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 78,190 shares of company stock valued at $27,041,022 in the last quarter. 1.40% of the stock is currently owned by corporate insiders.

General Dynamics Price Performance

Shares of GD traded down $0.24 during mid-day trading on Tuesday, reaching $376.64. The company had a trading volume of 125,713 shares, compared to its average volume of 1,378,160. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90. The company has a market capitalization of $101.85 billion, a P/E ratio of 23.70, a P/E/G ratio of 2.31 and a beta of 0.34. General Dynamics Corporation has a twelve month low of $293.95 and a twelve month high of $380.71. The company's 50-day moving average is $344.97 and its 200-day moving average is $348.40.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly 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 return on equity of 17.41% and a net margin of 8.07%.The business had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. During the same quarter in the previous year, the firm earned $3.66 EPS. General Dynamics's quarterly revenue was up 10.3% on a year-over-year basis. On average, equities analysts anticipate that General Dynamics Corporation will post 16.63 EPS for the current year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 2nd will be issued a $1.59 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $6.36 annualized dividend and a dividend yield of 1.7%. General Dynamics's dividend payout ratio is presently 40.03%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GD. The Goldman Sachs Group decreased their price objective on General Dynamics from $327.00 to $313.00 and set a "sell" rating on the stock in a report on Monday, May 4th. BNP Paribas Exane reduced their target price on General Dynamics from $430.00 to $390.00 and set an "outperform" rating for the company in a research report on Thursday, April 30th. Jefferies Financial Group upgraded shares of General Dynamics from a "hold" rating to a "buy" rating and lifted their price target for the stock from $380.00 to $400.00 in a research note on Thursday, June 11th. Wells Fargo & Company started coverage on shares of General Dynamics in a report on Wednesday, April 1st. They issued an "overweight" rating and a $400.00 price target on the stock. Finally, UBS Group raised shares of General Dynamics from a "neutral" rating to a "buy" rating in a report on Thursday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, General Dynamics currently has an average rating of "Moderate Buy" and an average target price of $389.15.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.