Zurcher Kantonalbank Zurich Cantonalbank Has $15.88 Million Position in General Dynamics Corporation (NYSE:GD)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in General Dynamics Corporation (NYSE:GD - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,251 shares of the aerospace company's stock after buying an additional 1,195 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in General Dynamics were worth $15,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in GD. Rialto Wealth Management LLC raised its holdings in General Dynamics by 213.8% in the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock worth $25,000 after purchasing an additional 62 shares in the last quarter. Inlight Wealth Management LLC bought a new position in shares of General Dynamics during the first quarter valued at $26,000. Smallwood Wealth Investment Management LLC bought a new position in shares of General Dynamics during the first quarter valued at $27,000. Copia Wealth Management bought a new position in shares of General Dynamics during the fourth quarter valued at $27,000. Finally, Hoey Investments Inc. bought a new position in shares of General Dynamics during the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Stock Performance

GD stock traded down $1.16 during midday trading on Friday, reaching $310.45. The company had a trading volume of 891,100 shares, compared to its average volume of 1,490,267. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average price of $290.34 and a 200 day moving average price of $273.57. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $322.50. The firm has a market capitalization of $83.51 billion, a PE ratio of 20.84, a P/E/G ratio of 1.91 and a beta of 0.46.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.27. The business had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%. The business's revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.26 earnings per share. Analysts anticipate 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 issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Thursday, July 3rd. General Dynamics's payout ratio is currently 40.27%.

Insider Activity

In related news, EVP Mark Lagrand Burns sold 43,860 shares of the company's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $312.28, for a total value of $13,696,600.80. Following the completion of the sale, the executive vice president directly owned 39,875 shares in the company, valued at approximately $12,452,165. This represents a 52.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Leon Rudy F. De sold 5,490 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $312.81, for a total transaction of $1,717,326.90. Following the completion of the sale, the director owned 5,483 shares of the company's stock, valued at $1,715,137.23. This represents a 50.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 268,370 shares of company stock worth $78,408,011 in the last ninety days. Corporate insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GD. Wolfe Research raised General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price objective on the stock in a research report on Thursday, July 24th. TD Securities increased their price target on General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Citigroup raised their target price on General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Jefferies Financial Group set a $325.00 target price on General Dynamics and gave the company a "hold" rating in a research report on Wednesday, July 9th. Finally, Morgan Stanley reduced their price objective on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $315.78.

About General Dynamics

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.