General Dynamics Corporation (NYSE:GD) Stock Holdings Lessened by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd has reduced its stake in General Dynamics Corporation by 68.5%, now holding 3,516 shares valued at approximately $958,000.
• Multiple large investors increased their holdings, with PFG Advisors boosting theirs by 37.5%, bringing their total to 15,903 shares valued at $4,335,000.
• General Dynamics' stock has a current target price of $312.17 based on analysts' average ratings, with reports indicating mixed ratings from various research firms.

Y Intercept Hong Kong Ltd trimmed its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 68.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,516 shares of the aerospace company's stock after selling 7,631 shares during the period. Y Intercept Hong Kong Ltd's holdings in General Dynamics were worth $958,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Rialto Wealth Management LLC increased its holdings in shares of General Dynamics by 213.8% in the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock worth $25,000 after acquiring an additional 62 shares during the period. Inlight Wealth Management LLC bought a new position in General Dynamics in the 1st quarter valued at about $26,000. Smallwood Wealth Investment Management LLC bought a new position in General Dynamics in the 1st quarter valued at about $27,000. Copia Wealth Management bought a new position in General Dynamics in the 4th quarter valued at about $27,000. Finally, Hoey Investments Inc. bought a new position in General Dynamics in the 4th quarter valued at about $28,000. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Trading Up 0.8%

GD stock traded up $2.55 during mid-day trading on Tuesday, reaching $315.65. 238,620 shares of the stock traded hands, compared to its average volume of 1,486,500. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $322.50. The company has a market cap of $84.91 billion, a P/E ratio of 21.19, a P/E/G ratio of 1.98 and a beta of 0.46. The stock's fifty day moving average is $288.30 and its 200-day moving average is $272.68.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, beating analysts' consensus estimates of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The company had revenue of $13.04 billion during the quarter, compared to analyst estimates of $12.13 billion. During the same period in the prior year, the firm earned $3.26 earnings per share. The business's quarterly revenue was up 8.9% on a year-over-year basis. As a group, sell-side analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Thursday, July 3rd. General Dynamics's dividend payout ratio (DPR) is 40.27%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Argus set a $295.00 target price on shares of General Dynamics in a research report on Tuesday, May 6th. Wolfe Research upgraded shares of General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 target price for the company in a research report on Thursday, July 24th. Susquehanna increased their target price on shares of General Dynamics from $315.00 to $365.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Citigroup increased their target price on shares of General Dynamics from $348.00 to $368.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, UBS Group increased their target price on shares of General Dynamics from $309.00 to $333.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $312.17.

Insider Activity

In other news, CEO Phebe N. Novakovic sold 7,639 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $280.44, for a total value of $2,142,281.16. Following the completion of the sale, the chief executive officer directly owned 769,607 shares of the company's stock, valued at $215,828,587.08. This represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is owned by company insiders.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.