Y Intercept Hong Kong Ltd Purchases Shares of 26,212 General Dynamics Corporation $GD

Y Intercept Hong Kong Ltd purchased a new stake in shares of General Dynamics Corporation (NYSE:GD) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,212 shares of the aerospace company’s stock, valued at approximately $8,825,000.

Several other institutional investors have also added to or reduced their stakes in the business. Wealthspire Advisors LLC boosted its position in General Dynamics by 97.7% during the fourth quarter. Wealthspire Advisors LLC now owns 3,283 shares of the aerospace company’s stock valued at $1,105,000 after buying an additional 1,622 shares during the period. Allianz SE boosted its position in General Dynamics by 38.3% during the fourth quarter. Allianz SE now owns 1,578 shares of the aerospace company’s stock valued at $531,000 after buying an additional 437 shares during the period. Gerber Kawasaki Wealth & Investment Management boosted its position in General Dynamics by 11.3% during the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 2,009 shares of the aerospace company’s stock valued at $676,000 after buying an additional 204 shares during the period. Summit Financial LLC boosted its position in General Dynamics by 0.7% during the fourth quarter. Summit Financial LLC now owns 6,188 shares of the aerospace company’s stock valued at $2,083,000 after buying an additional 43 shares during the period. Finally, FineMark National Bank & Trust boosted its holdings in shares of General Dynamics by 1.1% during the fourth quarter. FineMark National Bank & Trust now owns 6,547 shares of the aerospace company’s stock worth $2,204,000 after purchasing an additional 71 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

General Dynamics stock opened at $359.92 on Friday. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. General Dynamics Corporation has a 1-year low of $275.49 and a 1-year high of $369.70. The firm has a 50-day moving average of $340.32 and a 200-day moving average of $346.59. The firm has a market cap of $97.33 billion, a P/E ratio of 22.65, a P/E/G ratio of 2.23 and a beta of 0.34.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, topping the consensus estimate of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The business had revenue of $13.48 billion during the quarter, compared to analyst estimates of $12.70 billion. During the same period last year, the business posted $3.66 earnings per share. General Dynamics’s quarterly revenue was up 10.3% compared to the same quarter last year. Sell-side analysts expect that General Dynamics Corporation will post 16.62 EPS for the current year.

General Dynamics Announces Dividend

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 $1.59 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 annualized dividend and a yield of 1.8%. General Dynamics’s dividend payout ratio (DPR) is 40.03%.

Insider Buying and Selling

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 sale, 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 at this link. 1.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

GD has been the subject of a number of analyst reports. BNP Paribas Exane dropped their target price on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a report on Thursday, April 30th. DA Davidson dropped their target price on shares of General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Wells Fargo & Company initiated coverage on shares of General Dynamics in a report on Wednesday, April 1st. They set an “overweight” rating and a $400.00 target price for the company. Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Dynamics from $387.00 to $377.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. Finally, UBS Group upgraded shares of General Dynamics from a “neutral” rating to a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus target price of $388.40.

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.