Sienna Gestion Buys 2,895 Shares of General Dynamics Corporation $GD

Key Points

• Sienna Gestion boosted its stake in General Dynamics by 83.6% in the fourth quarter, buying 2,895 additional shares and bringing its total holdings to 6,358 shares worth about $2.15 million.
• General Dynamics delivered strong quarterly results, reporting earnings of $4.10 per share versus estimates of $3.67 and revenue of $13.48 billion, up 10.3% year over year.
• Analysts remain mostly positive on GD, with a consensus rating of “Moderate Buy” and an average price target of $388.40, while the company also announced a quarterly dividend of $1.59 per share.

Sienna Gestion raised its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 83.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,358 shares of the aerospace company's stock after buying an additional 2,895 shares during the quarter. Sienna Gestion's holdings in General Dynamics were worth $2,148,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of GD. Dunhill Financial LLC increased its holdings in General Dynamics by 620.0% in the 3rd quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company's stock valued at $25,000 after buying an additional 62 shares during the period. KERR FINANCIAL PLANNING Corp bought a new stake in General Dynamics in the 3rd quarter valued at $25,000. Dagco Inc. bought a new stake in General Dynamics in the 4th quarter valued at $25,000. Burkett Financial Services LLC increased its holdings in General Dynamics by 650.0% in the 3rd quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company's stock valued at $26,000 after buying an additional 65 shares during the period. Finally, Steph & Co. increased its holdings in General Dynamics by 65.2% in the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company's stock valued at $26,000 after buying an additional 30 shares during the period. Institutional investors own 86.14% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GD shares. Argus boosted their price target on shares of General Dynamics from $380.00 to $395.00 and gave the company a "buy" rating in a report on Thursday, February 19th. Weiss Ratings lowered shares of General Dynamics from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, May 19th. Wall Street Zen raised shares of General Dynamics from a "buy" rating to a "strong-buy" rating in a report on Saturday. The Goldman Sachs Group lowered their price target on shares of General Dynamics from $327.00 to $313.00 and set a "sell" rating on the stock in a report on Monday, May 4th. Finally, Citigroup reduced their target price on shares of General Dynamics from $380.00 to $364.00 and set a "neutral" rating on the stock in a research note on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $388.40.

General Dynamics Stock Down 0.3%

Shares of NYSE:GD opened at $359.08 on Tuesday. General Dynamics Corporation has a 52 week low of $275.49 and a 52 week high of $369.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. The company's fifty day moving average is $340.51 and its 200-day moving average is $346.78. The company has a market capitalization of $97.11 billion, a PE ratio of 22.60, a P/E/G ratio of 2.23 and a beta of 0.34.

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, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $12.70 billion. During the same quarter in the previous year, the company earned $3.66 EPS. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts predict that General Dynamics Corporation will post 16.62 earnings per share for the current fiscal 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 paid a $1.59 dividend. This represents a $6.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Thursday, July 2nd. General Dynamics's payout ratio is currently 40.03%.

Insider Transactions at General Dynamics

In related news, EVP Mark Lagrand Burns sold 36,480 shares of the company's stock in a transaction dated Tuesday, May 12th. The shares were 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 $13,457,677.75. This represents a 48.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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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