iA Global Asset Management Inc. Raises Holdings in General Dynamics Corporation $GD

iA Global Asset Management Inc. boosted its stake in shares of General Dynamics Corporation (NYSE:GD) by 32.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,350 shares of the aerospace company’s stock after purchasing an additional 3,528 shares during the quarter. iA Global Asset Management Inc.’s holdings in General Dynamics were worth $4,831,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Dunhill Financial LLC boosted its position in shares of General Dynamics by 620.0% during the 3rd quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 62 shares in the last quarter. KERR FINANCIAL PLANNING Corp acquired a new position in shares of General Dynamics during the 3rd quarter worth about $25,000. Dagco Inc. acquired a new position in shares of General Dynamics during the 4th quarter worth about $25,000. Burkett Financial Services LLC boosted its position in shares of General Dynamics by 650.0% during the 3rd quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 65 shares in the last quarter. Finally, Steph & Co. boosted its position in shares of General Dynamics by 65.2% during the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 32,918 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $354.09, for a total transaction of $11,655,934.62. Following the completion of the sale, the chief executive officer directly owned 766,457 shares of the company’s stock, valued at approximately $271,394,759.13. This trade represents a 4.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Lagrand Burns sold 36,480 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total value of $12,596,179.20. Following the sale, the executive vice president directly owned 38,975 shares of the company’s stock, valued at $13,457,677.75. The trade was a 48.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 119,600 shares of company stock valued at $41,650,580 in the last three months. 1.40% of the stock is currently owned by company insiders.

General Dynamics Stock Down 0.1%

Shares of NYSE GD opened at $334.29 on Monday. The stock has a market cap of $90.40 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 2.07 and a beta of 0.34. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. General Dynamics Corporation has a 52-week low of $268.10 and a 52-week high of $369.70. The business has a 50-day moving average price of $343.59 and a 200 day moving average price of $346.63.

General Dynamics (NYSE:GD) last announced 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 firm had revenue of $13.48 billion during 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 business’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.66 EPS. Equities research analysts forecast that General Dynamics Corporation will post 16.62 earnings per share for the current year.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 10th were given a $1.59 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Friday, April 10th. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.9%. General Dynamics’s payout ratio is currently 40.03%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Morgan Stanley upped their price objective on General Dynamics from $410.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Wells Fargo & Company assumed coverage on General Dynamics in a research report on Wednesday, April 1st. They set an “overweight” rating and a $400.00 price objective for the company. Citigroup lowered their price objective on General Dynamics from $389.00 to $380.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. The Goldman Sachs Group lowered their price objective on General Dynamics from $327.00 to $313.00 and set a “sell” rating for the company in a research report on Monday, May 4th. Finally, Jefferies Financial Group lowered their price objective on General Dynamics from $385.00 to $380.00 and set a “hold” rating for the company in a research report on Tuesday, April 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $388.20.

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.