Securian Asset Management Inc. Sells 5,308 Shares of General Dynamics Corporation $GD

Key Points

• Securian Asset Management reduced its General Dynamics stake by 43.5% in the fourth quarter, selling 5,308 shares and leaving it with 6,894 shares worth about $2.32 million.
• Wall Street sentiment on General Dynamics remains positive, with several firms raising price targets and the stock holding a Moderate Buy consensus rating and $388.20 average target price.
• General Dynamics beat quarterly earnings and revenue expectations, while also raising its dividend to $1.59 per share from $1.50, implying a 1.8% yield.

Securian Asset Management Inc. cut its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 43.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,894 shares of the aerospace company's stock after selling 5,308 shares during the period. Securian Asset Management Inc.'s holdings in General Dynamics were worth $2,321,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Joule Financial LLC boosted its holdings in General Dynamics by 4.3% in the 4th quarter. Joule Financial LLC now owns 705 shares of the aerospace company's stock worth $237,000 after buying an additional 29 shares during the period. Brown Miller Wealth Management LLC lifted its stake in General Dynamics by 0.3% in the 4th quarter. Brown Miller Wealth Management LLC now owns 8,889 shares of the aerospace company's stock worth $2,993,000 after purchasing an additional 29 shares in the last quarter. First Financial Bankshares Inc lifted its stake in General Dynamics by 2.6% in the 3rd quarter. First Financial Bankshares Inc now owns 1,196 shares of the aerospace company's stock worth $408,000 after purchasing an additional 30 shares in the last quarter. Steph & Co. lifted its stake in General Dynamics by 65.2% in the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company's stock worth $26,000 after purchasing an additional 30 shares in the last quarter. Finally, Revolve Wealth Partners LLC lifted its stake in General Dynamics by 3.3% in the 4th quarter. Revolve Wealth Partners LLC now owns 978 shares of the aerospace company's stock worth $329,000 after purchasing an additional 31 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GD. Wall Street Zen upgraded shares of General Dynamics from a "buy" rating to a "strong-buy" rating in a research note on Sunday. Argus increased their target price on shares of General Dynamics from $380.00 to $395.00 and gave the stock a "buy" rating in a research note on Thursday, February 19th. JPMorgan Chase & Co. increased their target price on shares of General Dynamics from $385.00 to $400.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. TD Cowen increased their target price on shares of General Dynamics from $370.00 to $390.00 and gave the stock a "buy" rating in a research note on Wednesday, January 14th. Finally, Wells Fargo & Company began coverage on shares of General Dynamics in a research note on Wednesday, April 1st. They issued an "overweight" rating and a $400.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, General Dynamics currently has a consensus rating of "Moderate Buy" and a consensus price target of $388.20.

Insider Buying and Selling

In other General Dynamics news, EVP Mark Lagrand Burns sold 10,153 shares of the business's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $354.95, for a total value of $3,603,807.35. Following the completion of the sale, the executive vice president owned 38,975 shares in the company, valued at approximately $13,834,176.25. The trade was a 20.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Mark Rayha sold 4,370 shares of the firm's stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $348.79, for a total transaction of $1,524,212.30. Following the completion of the transaction, the vice president owned 7,936 shares in the company, valued at $2,767,997.44. This represents a 35.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 51,260 shares of company stock valued at $18,133,971 in the last 90 days. 1.40% of the stock is owned by insiders.

General Dynamics Stock Performance

NYSE:GD opened at $343.90 on Tuesday. The company has a market capitalization of $93.00 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 2.15 and a beta of 0.34. The business has a 50 day moving average of $345.38 and a 200 day moving average of $346.78. General Dynamics Corporation has a 1-year low of $267.39 and a 1-year high of $369.70. 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 earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, topping analysts' consensus estimates of $3.67 by $0.43. The company had revenue of $13.48 billion for the quarter, compared to analysts' expectations of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The firm's revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.66 EPS. On average, sell-side analysts predict that General Dynamics Corporation will post 16.62 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 10th were issued a dividend of $1.59 per share. The ex-dividend date was Friday, April 10th. This represents a $6.36 annualized dividend and a yield of 1.8%. This is a boost from General Dynamics's previous quarterly dividend of $1.50. 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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