Virtu Financial LLC Acquires Shares of 4,691 General Dynamics Corporation $GD

Virtu Financial LLC bought a new position in shares of General Dynamics Corporation (NYSE:GD) in the 4th quarter, Holdings Channel reports. The institutional investor bought 4,691 shares of the aerospace company’s stock, valued at approximately $1,579,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dunhill Financial LLC raised its holdings in shares of General Dynamics by 620.0% during the 3rd quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock worth $25,000 after buying an additional 62 shares in the last quarter. KERR FINANCIAL PLANNING Corp acquired a new stake in General Dynamics in the third quarter valued at about $25,000. Dagco Inc. bought a new position in General Dynamics in the fourth quarter valued at about $25,000. Burkett Financial Services LLC grew its position in General Dynamics by 650.0% in the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 65 shares during the last quarter. Finally, Steph & Co. raised its stake in 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 acquiring an additional 30 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on GD. The Goldman Sachs Group reduced their price target on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a research note on Monday, May 4th. Jefferies Financial Group upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and upped their price objective for the stock from $380.00 to $400.00 in a research report on Thursday, June 11th. Weiss Ratings downgraded shares of General Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 19th. Royal Bank Of Canada restated a “sector perform” rating and issued a $385.00 target price on shares of General Dynamics in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a 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 given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, General Dynamics has a consensus rating of “Moderate Buy” and an average price target of $388.40.

Insider Transactions at General Dynamics

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the transaction, the executive vice president owned 38,975 shares of the company’s stock, valued at approximately $13,457,677.75. This trade represents a 48.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

General Dynamics Stock Performance

Shares of GD stock opened at $350.39 on Friday. The firm has a market capitalization of $94.76 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 2.17 and a beta of 0.34. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The business’s 50-day moving average price is $341.10 and its 200-day moving average price is $347.20. General Dynamics Corporation has a 12 month low of $275.49 and a 12 month high of $369.70.

General Dynamics (NYSE:GD) last released 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 company had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The firm’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.66 earnings per share. Equities research analysts forecast that General Dynamics Corporation will post 16.62 EPS for the current year.

General Dynamics Dividend Announcement

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

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.