Maj Invest Holding A S Acquires Shares of 400 General Dynamics Corporation (NYSE:GD)

Maj Invest Holding A S bought a new position in shares of General Dynamics Corporation (NYSE:GD) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 400 shares of the aerospace company’s stock, valued at approximately $109,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Renasant Bank raised its position in General Dynamics by 46.8% in the 4th quarter. Renasant Bank now owns 3,258 shares of the aerospace company’s stock worth $858,000 after purchasing an additional 1,038 shares during the last quarter. Advisory Resource Group boosted its holdings in General Dynamics by 7.1% in the first quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company’s stock valued at $5,234,000 after acquiring an additional 1,276 shares during the last quarter. Retirement Guys Formula LLC acquired a new stake in General Dynamics in the first quarter worth about $1,692,000. Quantbot Technologies LP raised its holdings in General Dynamics by 990.0% during the 4th quarter. Quantbot Technologies LP now owns 66,557 shares of the aerospace company’s stock worth $17,537,000 after purchasing an additional 60,451 shares during the last quarter. Finally, Independent Advisor Alliance lifted its position in General Dynamics by 4.1% during the 4th quarter. Independent Advisor Alliance now owns 24,328 shares of the aerospace company’s stock valued at $6,410,000 after purchasing an additional 955 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Performance

Shares of GD opened at $294.00 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.34. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $316.90. The firm’s 50 day moving average price is $278.76 and its two-hundred day moving average price is $268.09. The firm has a market cap of $78.91 billion, a P/E ratio of 20.39, a PEG ratio of 1.98 and a beta of 0.46.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.23. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The firm had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.92 billion. During the same quarter in the previous year, the firm posted $2.88 earnings per share. The business’s revenue was up 13.9% on a year-over-year basis. On average, analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics’s payout ratio is currently 41.61%.

Wall Street Analysts Forecast Growth

GD has been the subject of several analyst reports. Argus set a $295.00 price target on shares of General Dynamics in a research report on Tuesday, May 6th. Citigroup lowered their price target on shares of General Dynamics from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. TD Securities lifted their price target on shares of General Dynamics from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Morgan Stanley lowered their price target on shares of General Dynamics from $305.00 to $300.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Finally, Wells Fargo & Company lowered their price target on shares of General Dynamics from $261.00 to $236.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $290.24.

Insider Activity at General Dynamics

In other news, CEO Phebe N. Novakovic sold 7,639 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $280.44, for a total value of $2,142,281.16. Following the sale, the chief executive officer owned 769,607 shares of the company’s stock, valued at $215,828,587.08. The trade was a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

General Dynamics Company Profile

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.