UniSuper Management Pty Ltd Has $1.85 Million Stock Position in General Dynamics Co. (NYSE:GD)

UniSuper Management Pty Ltd grew its stake in General Dynamics Co. (NYSE:GD) by 232.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,538 shares of the aerospace company’s stock after purchasing an additional 4,574 shares during the quarter. UniSuper Management Pty Ltd’s holdings in General Dynamics were worth $1,847,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new position in shares of General Dynamics in the 1st quarter valued at $25,000. MeadowBrook Investment Advisors LLC acquired a new stake in General Dynamics during the 4th quarter worth $25,000. Richardson Financial Services Inc. acquired a new stake in General Dynamics during the 4th quarter worth $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in General Dynamics during the 1st quarter worth $29,000. Finally, Legend Financial Advisors Inc. raised its stake in General Dynamics by 46.8% during the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after buying an additional 36 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Down 3.3 %

Shares of NYSE GD traded down $9.79 during mid-day trading on Wednesday, hitting $284.67. The company had a trading volume of 3,094,386 shares, compared to its average volume of 1,066,455. The company has a market capitalization of $78.10 billion, a PE ratio of 23.16, a price-to-earnings-growth ratio of 1.66 and a beta of 0.60. The firm has a 50-day simple moving average of $293.11 and a two-hundred day simple moving average of $281.82. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. General Dynamics Co. has a one year low of $213.47 and a one year high of $302.75.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The business had revenue of $10.73 billion for the quarter, compared to the consensus estimate of $10.26 billion. During the same quarter in the previous year, the business posted $2.64 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities analysts expect that General Dynamics Co. will post 14.54 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s payout ratio is currently 46.33%.

Insider Buying and Selling

In related news, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the completion of the transaction, the chief financial officer now owns 79,255 shares in the company, valued at $23,630,670.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other General Dynamics news, VP Mark Lagrand Burns sold 12,089 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $296.59, for a total transaction of $3,585,476.51. Following the sale, the vice president now owns 64,132 shares of the company’s stock, valued at $19,020,909.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the sale, the chief financial officer now directly owns 79,255 shares in the company, valued at approximately $23,630,670.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,486 shares of company stock worth $34,391,642. Company insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Morgan Stanley raised their price objective on General Dynamics from $271.00 to $293.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research note on Wednesday, July 17th. The Goldman Sachs Group raised their price objective on General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Robert W. Baird reiterated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Finally, Barclays increased their target price on General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and a consensus price target of $307.94.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.