Alchemi Wealth LLC Acquires Shares of 1,675 General Dynamics Corporation $GD

Alchemi Wealth LLC purchased a new position in General Dynamics Corporation (NYSE:GD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,675 shares of the aerospace company’s stock, valued at approximately $564,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GD. AQR Capital Management LLC increased its position in shares of General Dynamics by 118.3% during the third quarter. AQR Capital Management LLC now owns 1,663,847 shares of the aerospace company’s stock valued at $567,372,000 after acquiring an additional 901,679 shares during the last quarter. Northern Trust Corp lifted its position in shares of General Dynamics by 35.0% during the 3rd quarter. Northern Trust Corp now owns 3,332,917 shares of the aerospace company’s stock worth $1,136,525,000 after buying an additional 863,392 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of General Dynamics by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 24,238,561 shares of the aerospace company’s stock valued at $8,265,349,000 after acquiring an additional 677,665 shares during the period. Balyasny Asset Management L.P. increased its holdings in shares of General Dynamics by 831.1% in the 3rd quarter. Balyasny Asset Management L.P. now owns 737,259 shares of the aerospace company’s stock valued at $251,405,000 after acquiring an additional 658,081 shares during the period. Finally, SG Americas Securities LLC increased its stake in General Dynamics by 6,680.8% in the 4th quarter. SG Americas Securities LLC now owns 591,488 shares of the aerospace company’s stock valued at $199,130,000 after buying an additional 582,765 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GD shares. Citigroup dropped their price objective on shares of General Dynamics from $380.00 to $364.00 and set a “neutral” rating on the stock in a research note on Monday, May 18th. Morgan Stanley upped their price objective on shares of General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. 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. 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. Finally, 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 objective for the company. Two equities research 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 issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $388.40.

Insider Activity 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 stock was sold at an average price of $345.29, for a total transaction 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 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 accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

General Dynamics Stock Performance

GD stock opened at $359.92 on Friday. 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 stock has a market capitalization of $97.33 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 2.23 and a beta of 0.34. General Dynamics Corporation has a 1 year low of $275.49 and a 1 year high of $369.70. The stock’s fifty day moving average is $340.32 and its two-hundred day moving average is $346.59.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.67 by $0.43. The company had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business posted $3.66 earnings per share. On average, research analysts predict that General Dynamics Corporation will post 16.62 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 2nd will be issued a dividend of $1.59 per share. 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 dividend payout ratio (DPR) is 40.03%.

General Dynamics 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.