General Dynamics Corporation $GD Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. lessened its position in shares of General Dynamics Corporation (NYSE:GD) by 88.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,663 shares of the aerospace company’s stock after selling 12,687 shares during the period. iA Global Asset Management Inc.’s holdings in General Dynamics were worth $571,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GD. Vanguard Group Inc. lifted its stake in shares of General Dynamics by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock worth $8,338,169,000 after acquiring an additional 528,769 shares during the period. Modern Wealth Management LLC increased its stake in shares of General Dynamics by 114.7% during the third quarter. Modern Wealth Management LLC now owns 6,124 shares of the aerospace company’s stock valued at $2,088,000 after acquiring an additional 3,271 shares during the period. Jain Global LLC increased its stake in shares of General Dynamics by 97.8% during the third quarter. Jain Global LLC now owns 169,305 shares of the aerospace company’s stock valued at $57,733,000 after acquiring an additional 83,692 shares during the period. M&T Bank Corp raised its holdings in General Dynamics by 155.6% during the fourth quarter. M&T Bank Corp now owns 104,773 shares of the aerospace company’s stock worth $35,273,000 after purchasing an additional 63,781 shares in the last quarter. Finally, Financial Planning Hawaii Inc. acquired a new stake in General Dynamics in the fourth quarter worth approximately $1,103,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. BNP Paribas Exane decreased their price target on General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a research note on Thursday, April 30th. DA Davidson cut their price objective on General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. UBS Group raised General Dynamics from a “neutral” rating to a “buy” rating in a research note on Thursday, June 11th. Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $380.00 to $400.00 in a report on Thursday, June 11th. Finally, JPMorgan Chase & Co. boosted their price target on shares of General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $388.40.

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 transaction, the executive vice president directly owned 38,975 shares in the company, 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 filing with the SEC, which is available through this link. Also, Director Mark Malcolm sold 5,480 shares of the business’s stock in a transaction that occurred on 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 sale, the director owned 10,643 shares in the company, valued at $3,884,695. This represents a 33.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 78,190 shares of company stock valued at $27,041,022 over the last ninety days. Insiders own 1.40% of the company’s stock.

General Dynamics Price Performance

NYSE GD opened at $373.34 on Friday. General Dynamics Corporation has a 1 year low of $292.34 and a 1 year high of $373.60. The business’s fifty day moving average is $343.92 and its two-hundred day moving average is $348.18. The stock has a market capitalization of $100.96 billion, a P/E ratio of 23.50, a P/E/G ratio of 2.25 and a beta of 0.34. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The business had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $12.70 billion. During the same period in the previous year, the firm posted $3.66 EPS. The company’s quarterly revenue was up 10.3% on a year-over-year basis. On average, research analysts forecast that General Dynamics Corporation will post 16.63 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be issued a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, July 2nd. General Dynamics’s payout ratio is presently 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.