Equity Investment Corp Sells 9,863 Shares of General Dynamics Corporation $GD

Equity Investment Corp decreased its position in shares of General Dynamics Corporation (NYSE:GD) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 281,703 shares of the aerospace company’s stock after selling 9,863 shares during the quarter. Equity Investment Corp owned about 0.10% of General Dynamics worth $94,838,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GD. Brighton Jones LLC grew its position in shares of General Dynamics by 16.9% during the 4th quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company’s stock worth $760,000 after buying an additional 417 shares during the period. Acadian Asset Management LLC grew its position in shares of General Dynamics by 140.2% during the 1st quarter. Acadian Asset Management LLC now owns 3,445 shares of the aerospace company’s stock worth $938,000 after buying an additional 2,011 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of General Dynamics during the 2nd quarter worth approximately $240,000. Flow Traders U.S. LLC acquired a new stake in shares of General Dynamics during the 2nd quarter worth approximately $352,000. Finally, Jump Financial LLC acquired a new stake in shares of General Dynamics during the 2nd quarter worth approximately $1,284,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Price Performance

GD opened at $359.57 on Friday. The firm’s fifty day moving average price is $340.14 and its two-hundred day moving average price is $346.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90. The company has a market capitalization of $97.24 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 2.12 and a beta of 0.34. General Dynamics Corporation has a 1 year low of $274.88 and a 1 year high of $369.70.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.43. The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.66 EPS. As a group, analysts anticipate that General Dynamics Corporation will post 16.62 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be issued a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics’s payout ratio is 40.03%.

Analyst Upgrades and Downgrades

GD has been the subject of several research reports. Wells Fargo & Company initiated coverage on shares of General Dynamics in a research report on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 price target for the company. Weiss Ratings downgraded shares of General Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 19th. The Goldman Sachs Group reduced their price target on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating for the company in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Dynamics from $387.00 to $377.00 and set a “hold” rating for the company in a research report on Wednesday, May 6th. Finally, Morgan Stanley lifted their price target on shares of General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and an average target price of $388.40.

Insider Buying and Selling at General Dynamics

In related news, EVP Mark Lagrand Burns sold 36,480 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total value of $12,596,179.20. Following the transaction, the executive vice president directly owned 38,975 shares of the company’s stock, valued at approximately $13,457,677.75. The trade was a 48.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.40% of the company’s stock.

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.