Cvfg LLC Makes New Investment in General Dynamics Corporation $GD

Cvfg LLC bought a new stake in General Dynamics Corporation (NYSE:GD) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,593 shares of the aerospace company’s stock, valued at approximately $547,000.

A number of other hedge funds have also modified their holdings of GD. KERR FINANCIAL PLANNING Corp purchased a new stake in General Dynamics in the 3rd quarter valued at about $25,000. Dagco Inc. purchased a new position in General Dynamics during the fourth quarter worth about $25,000. Burkett Financial Services LLC increased its position in shares of General Dynamics by 650.0% during 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. Steph & Co. increased its position in shares of General Dynamics by 65.2% during the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 30 shares during the last quarter. Finally, Center for Financial Planning Inc. raised its stake in shares of General Dynamics by 220.7% in the 4th quarter. Center for Financial Planning Inc. now owns 93 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 64 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of GD opened at $374.24 on Thursday. General Dynamics Corporation has a fifty-two week low of $293.95 and a fifty-two week high of $380.71. The firm’s 50 day moving average price is $348.59 and its 200 day moving average price is $349.21. The company has a market cap of $101.20 billion, a P/E ratio of 23.55, a PEG ratio of 2.30 and a beta of 0.34. 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 (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 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 analysts’ expectations of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the company posted $3.66 EPS. On average, research analysts forecast that General Dynamics Corporation will post 16.63 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently announced 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. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 dividend on an annualized basis and a yield of 1.7%. General Dynamics’s dividend payout ratio (DPR) is 40.03%.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Mark Malcolm sold 5,480 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total value of $2,000,200.00. Following the sale, the director owned 10,643 shares of the company’s stock, valued at $3,884,695. This trade represents a 33.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Lagrand Burns sold 36,480 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was 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. This represents a 48.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 78,190 shares of company stock valued at $27,041,022 over the last three months. 1.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GD shares. BNP Paribas Exane lowered their price objective on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a research report on Thursday, April 30th. Weiss Ratings upgraded General Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. UBS Group upgraded General Dynamics from a “neutral” rating to a “buy” rating in a research report on Thursday, June 11th. JPMorgan Chase & Co. lifted their price objective on General Dynamics from $385.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Citigroup cut their price objective on General Dynamics from $380.00 to $364.00 and set a “neutral” rating on the stock in a report on Monday, May 18th. 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 assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $389.15.

About General Dynamics

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.