Allspring Global Investments Holdings LLC Purchases 22,539 Shares of General Dynamics Corporation $GD

Allspring Global Investments Holdings LLC grew its holdings in shares of General Dynamics Corporation (NYSE:GD) by 36.0% in the first quarter, HoldingsChannel.com reports. The fund owned 85,223 shares of the aerospace company’s stock after acquiring an additional 22,539 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in General Dynamics were worth $29,873,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of 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 in the last quarter. Acadian Asset Management LLC grew its holdings in General Dynamics by 140.2% in the first quarter. Acadian Asset Management LLC now owns 3,445 shares of the aerospace company’s stock worth $938,000 after purchasing an additional 2,011 shares during the period. Sivia Capital Partners LLC bought a new stake in General Dynamics in the second quarter valued at $240,000. Flow Traders U.S. LLC acquired a new position in shares of General Dynamics during the second quarter valued at about $352,000. Finally, Jump Financial LLC acquired a new position in shares of General Dynamics during the second quarter valued at about $1,284,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Price Performance

Shares of NYSE GD opened at $368.91 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. The firm’s 50-day simple moving average is $352.73 and its 200 day simple moving average is $350.56. The stock has a market cap of $99.76 billion, a price-to-earnings ratio of 23.22, a PEG ratio of 2.22 and a beta of 0.34. General Dynamics Corporation has a fifty-two week low of $293.95 and a fifty-two week high of $380.71.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, topping the consensus estimate of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The firm had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $12.70 billion. During the same period in the prior year, the business posted $3.66 earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, research analysts anticipate that General Dynamics Corporation will post 16.64 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 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 presently 40.03%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GD. Citigroup reduced their target price on General Dynamics from $380.00 to $364.00 and set a “neutral” rating for the company in a research note on Monday, May 18th. BNP Paribas Exane cut their price target on General Dynamics from $430.00 to $390.00 and set an “outperform” rating on the stock in a report on Thursday, April 30th. Wall Street Zen raised General Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Royal Bank Of Canada restated a “sector perform” rating and set a $385.00 price objective on shares of General Dynamics in a report on Thursday, April 30th. Finally, The Goldman Sachs Group lowered their target price on General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a research report on Monday, May 4th. Two 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. According to MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and a consensus target price of $391.15.

Insider Buying and Selling at General Dynamics

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the 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 in the company, valued at $13,457,677.75. This represents a 48.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark Malcolm sold 5,480 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the transaction, the director directly owned 10,643 shares in the company, valued at $3,884,695. The trade was a 33.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 78,190 shares of company stock worth $27,041,022. Company insiders own 1.40% of the company’s stock.

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.