TD Asset Management Inc Raises Stock Holdings in General Dynamics Corporation $GD

Key Points

• TD Asset Management increased its stake in General Dynamics by 5.6% in the fourth quarter, bringing its holdings to 219,993 shares worth about $74.1 million.
• General Dynamics reported a strong quarter, posting $4.10 EPS versus $3.67 expected and $13.48 billion in revenue, both above analyst estimates. Revenue also rose 10.3% year over year.
• The company announced a quarterly dividend of $1.59 per share, implying an annualized payout of $6.36 and a yield of about 1.8%. Meanwhile, analysts currently rate the stock a Moderate Buy with a consensus target price of $387.40.

TD Asset Management Inc grew its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 219,993 shares of the aerospace company's stock after buying an additional 11,590 shares during the quarter. TD Asset Management Inc owned approximately 0.08% of General Dynamics worth $74,063,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Dunhill Financial LLC grew its position in shares of General Dynamics by 620.0% during the third quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company's stock worth $25,000 after purchasing an additional 62 shares in the last quarter. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of General Dynamics during the third quarter worth about $25,000. Dagco Inc. purchased a new stake in shares of General Dynamics during the fourth quarter worth about $25,000. Burkett Financial Services LLC grew its position in shares of General Dynamics by 650.0% during the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company's stock worth $26,000 after purchasing an additional 65 shares in the last quarter. Finally, Steph & Co. grew its position in shares of General Dynamics by 65.2% during the fourth 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. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Price Performance

NYSE:GD opened at $346.43 on Friday. The firm has a market capitalization of $93.69 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 2.12 and a beta of 0.34. General Dynamics Corporation has a 1 year low of $268.10 and a 1 year high of $369.70. The business has a 50 day simple moving average of $340.09 and a 200-day simple moving average of $346.31. 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 posted its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.43. The business had revenue of $13.48 billion during the quarter, compared to analyst estimates of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The company's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the company earned $3.66 EPS. Equities analysts forecast that General Dynamics Corporation will post 16.62 EPS for the current year.

General Dynamics Announces Dividend

The business also recently disclosed 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 of this dividend is Thursday, July 2nd. General Dynamics's dividend payout ratio (DPR) is presently 40.03%.

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 sale, the executive vice president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Marguerite Amy Gilliland sold 3,819 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $353.50, for a total value of $1,350,016.50. Following the completion of the sale, the executive vice president directly owned 44,767 shares of the company's stock, valued at $15,825,134.50. The trade was a 7.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 119,600 shares of company stock valued at $41,650,580 in the last ninety days. Insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

GD has been the subject of several research analyst reports. Argus increased their target price on General Dynamics from $380.00 to $395.00 and gave the stock a "buy" rating in a research report on Thursday, February 19th. Morgan Stanley increased their price target on General Dynamics from $410.00 to $435.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Royal Bank Of Canada reissued a "sector perform" rating and set a $385.00 price target on shares of General Dynamics in a research note on Thursday, April 30th. UBS Group dropped their price target on General Dynamics from $385.00 to $371.00 and set a "neutral" rating for the company in a research note on Thursday, April 30th. Finally, DA Davidson dropped their price target on General Dynamics from $384.00 to $375.00 in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $387.40.

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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