General Dynamics Corporation $GD Position Lessened by Financiere des Professionnels Fonds d investissement inc.

Financiere des Professionnels Fonds d investissement inc. reduced its stake in shares of General Dynamics Corporation (NYSE:GD) by 43.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 10,492 shares of the aerospace company’s stock after selling 7,936 shares during the period. Financiere des Professionnels Fonds d investissement inc.’s holdings in General Dynamics were worth $3,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its holdings in shares of General Dynamics by 118.3% during the third quarter. AQR Capital Management LLC now owns 1,663,847 shares of the aerospace company’s stock valued at $567,372,000 after acquiring an additional 901,679 shares during the period. Northern Trust Corp increased its holdings in shares of General Dynamics by 35.0% in the 3rd quarter. Northern Trust Corp now owns 3,332,917 shares of the aerospace company’s stock worth $1,136,525,000 after acquiring an additional 863,392 shares during the period. Balyasny Asset Management L.P. lifted its position in General Dynamics by 831.1% in the 3rd quarter. Balyasny Asset Management L.P. now owns 737,259 shares of the aerospace company’s stock valued at $251,405,000 after purchasing an additional 658,081 shares during the last quarter. SG Americas Securities LLC boosted its stake in General Dynamics by 6,680.8% during the 4th quarter. SG Americas Securities LLC now owns 591,488 shares of the aerospace company’s stock valued at $199,130,000 after purchasing an additional 582,765 shares during the period. Finally, Vanguard Group Inc. grew its position in 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 purchasing an additional 528,769 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Performance

Shares of NYSE GD opened at $368.86 on Friday. General Dynamics Corporation has a 1 year low of $293.95 and a 1 year high of $380.71. The firm has a market cap of $99.75 billion, a P/E ratio of 23.21, a PEG ratio of 2.20 and a beta of 0.34. The stock has a fifty day moving average price of $352.28 and a two-hundred day moving average price of $350.36. 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 posted its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.43. The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.66 EPS. Research analysts forecast that General Dynamics Corporation will post 16.64 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be given a $1.59 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 annualized dividend and a yield of 1.7%. General Dynamics’s payout ratio is 40.03%.

Wall Street Analysts Forecast Growth

GD has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on General Dynamics from $385.00 to $400.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $385.00 price objective on shares of General Dynamics in a report on Thursday, April 30th. Morgan Stanley raised their target price on General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. UBS Group upgraded General Dynamics from a “neutral” rating to a “buy” rating in a research report on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on General Dynamics from $387.00 to $377.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $391.15.

Insider Transactions at General Dynamics

In other news, EVP Mark Lagrand Burns sold 36,480 shares of General Dynamics stock in a transaction that occurred on 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 transaction, the executive vice president owned 38,975 shares of the company’s stock, valued at $13,457,677.75. The trade was a 48.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the completion of the sale, the director owned 10,643 shares in the company, valued at $3,884,695. The trade was a 33.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 78,190 shares of company stock valued at $27,041,022 over the last three months. 1.40% of the stock is owned by corporate insiders.

General Dynamics 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.