Rakuten Investment Management Inc. Acquires 23,312 Shares of General Dynamics Corporation $GD

Rakuten Investment Management Inc. increased its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 259.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,298 shares of the aerospace company's stock after purchasing an additional 23,312 shares during the quarter. Rakuten Investment Management Inc.'s holdings in General Dynamics were worth $10,997,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of GD. WASHINGTON TRUST Co grew its stake in shares of General Dynamics by 453.3% during the 3rd quarter. WASHINGTON TRUST Co now owns 9,418 shares of the aerospace company's stock worth $3,212,000 after acquiring an additional 7,716 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of General Dynamics by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company's stock worth $8,338,169,000 after acquiring an additional 528,769 shares in the last quarter. Modern Wealth Management LLC grew its stake in shares of General Dynamics by 114.7% during the 3rd quarter. Modern Wealth Management LLC now owns 6,124 shares of the aerospace company's stock worth $2,088,000 after acquiring an additional 3,271 shares in the last quarter. Jain Global LLC grew its stake in shares of General Dynamics by 97.8% during the 3rd quarter. Jain Global LLC now owns 169,305 shares of the aerospace company's stock worth $57,733,000 after acquiring an additional 83,692 shares in the last quarter. Finally, M&T Bank Corp grew its stake in shares of General Dynamics by 155.6% during the 4th quarter. M&T Bank Corp now owns 104,773 shares of the aerospace company's stock worth $35,273,000 after acquiring an additional 63,781 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

Insider Transactions at General Dynamics

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of the firm's stock in a transaction on 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 completion of the sale, the executive vice president owned 38,975 shares of the company's stock, valued at $13,457,677.75. This trade represents a 48.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. DA Davidson decreased their price target on shares of General Dynamics from $384.00 to $375.00 in a research note on Thursday, April 30th. Argus increased their price objective on General Dynamics from $380.00 to $395.00 and gave the company a "buy" rating in a report on Thursday, February 19th. Weiss Ratings downgraded General Dynamics from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, May 19th. Jefferies Financial Group raised General Dynamics from a "hold" rating to a "buy" rating and increased their price objective for the company from $380.00 to $400.00 in a report on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on General Dynamics from $387.00 to $377.00 and set a "hold" rating for the company in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, General Dynamics presently has an average rating of "Moderate Buy" and an average target price of $388.40.

General Dynamics Trading Up 1.4%

NYSE GD opened at $364.45 on Wednesday. The company has a market cap of $98.56 billion, a PE ratio of 22.94, a PEG ratio of 2.23 and a beta of 0.34. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. General Dynamics Corporation has a 12 month low of $275.49 and a 12 month high of $369.70. The stock has a 50 day moving average of $340.82 and a 200-day moving average of $346.95.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, beating the consensus estimate of $3.67 by $0.43. The company had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.66 EPS. On average, equities research analysts anticipate that General Dynamics Corporation will post 16.62 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm 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 dividend of $1.59 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $6.36 annualized dividend and a yield of 1.7%. General Dynamics's dividend payout ratio (DPR) is currently 40.03%.

General Dynamics Company 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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