Alberta Investment Management Corp Acquires 13,067 Shares of General Dynamics Corporation $GD

Alberta Investment Management Corp raised its stake in shares of General Dynamics Corporation (NYSE:GD) by 141.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,279 shares of the aerospace company’s stock after buying an additional 13,067 shares during the quarter. Alberta Investment Management Corp’s holdings in General Dynamics were worth $7,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of GD. Brighton Jones LLC increased its holdings in General Dynamics by 16.9% in the 4th quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company’s stock valued at $760,000 after acquiring an additional 417 shares during the last quarter. Acadian Asset Management LLC boosted its holdings 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 valued at $938,000 after purchasing an additional 2,011 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of General Dynamics during the 2nd quarter valued at about $240,000. Flow Traders U.S. LLC purchased a new position in shares of General Dynamics during the second quarter valued at about $352,000. Finally, Jump Financial LLC bought a new stake in shares of General Dynamics in the second quarter worth about $1,284,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of the firm’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 completion of the sale, the executive vice president owned 38,975 shares of the company’s stock, valued at $13,457,677.75. This trade represents a 48.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is currently owned by insiders.

General Dynamics Stock Up 1.4%

NYSE GD opened at $364.45 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. General Dynamics Corporation has a 52 week low of $275.49 and a 52 week high of $369.70. The firm has a market capitalization of $98.56 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 2.23 and a beta of 0.34. The company has a fifty day moving average of $340.82 and a two-hundred day moving average of $346.95.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.43. The business 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 business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.66 earnings per share. On average, analysts predict that General Dynamics Corporation will post 16.62 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be given a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics’s dividend payout ratio is 40.03%.

Wall Street Analyst Weigh In

GD has been the topic of a number of research analyst reports. Wells Fargo & Company started coverage on General Dynamics in a research report on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective on General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. UBS Group raised General Dynamics from a “neutral” rating to a “buy” rating in a report on Thursday, June 11th. Morgan Stanley increased their target price on General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, BNP Paribas Exane cut their target price on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $388.40.

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.