SG Americas Securities LLC Raises Position in General Dynamics Corporation $GD

Key Points

• SG Americas Securities LLC increased its stake in General Dynamics by 26.9% in the first quarter, bringing its holdings to 750,462 shares valued at about $257.6 million.
• General Dynamics reported strong quarterly results, with EPS of $4.10 beating estimates and revenue of $13.48 billion, up 10.3% year over year.
• The company announced a quarterly dividend of $1.59 per share, payable on August 7, and analysts currently rate the stock Moderate Buy with a consensus price target of $388.40.

SG Americas Securities LLC boosted its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 26.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 750,462 shares of the aerospace company's stock after purchasing an additional 158,974 shares during the period. SG Americas Securities LLC owned approximately 0.28% of General Dynamics worth $257,574,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Dunhill Financial LLC boosted its holdings in General Dynamics by 620.0% during the 3rd quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company's stock valued at $25,000 after acquiring an additional 62 shares during the period. KERR FINANCIAL PLANNING Corp purchased a new position in General Dynamics in the 3rd quarter worth approximately $25,000. Dagco Inc. bought a new stake in General Dynamics in the fourth quarter valued at approximately $25,000. Burkett Financial Services LLC lifted its position in General Dynamics by 650.0% in the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company's stock valued at $26,000 after purchasing an additional 65 shares during the last quarter. Finally, Steph & Co. boosted its stake in shares of General Dynamics by 65.2% during the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company's stock valued at $26,000 after purchasing an additional 30 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Trading Up 0.1%

Shares of GD opened at $350.39 on Monday. The firm's 50-day moving average price is $341.10 and its 200-day moving average price is $347.30. The firm has a market capitalization of $94.76 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 2.17 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 1-year low of $275.49 and a 1-year high of $369.70.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) 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 company had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $12.70 billion. During the same period in the prior year, the firm earned $3.66 earnings per share. General Dynamics's revenue was up 10.3% on a year-over-year basis. Sell-side analysts anticipate that General Dynamics Corporation will post 16.62 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. Shareholders of record on Thursday, July 2nd will be issued a dividend of $1.59 per share. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.8%. General Dynamics's dividend payout ratio is 40.03%.

Analysts Set New Price Targets

GD has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of General Dynamics from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 13th. Jefferies Financial Group raised shares of General Dynamics from a "hold" rating to a "buy" rating and increased their price target for the company from $380.00 to $400.00 in a research report 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. Weiss Ratings cut shares of General Dynamics from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, May 19th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Dynamics from $387.00 to $377.00 and set a "hold" rating for the company in a research note 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 assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, General Dynamics presently has an average rating of "Moderate Buy" and a consensus target price of $388.40.

Insider Activity

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the firm's stock in a transaction that occurred 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 owned 38,975 shares in the company, valued at $13,457,677.75. This trade represents a 48.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.40% of the company's stock.

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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