8,986 Shares in General Dynamics Corporation $GD Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. purchased a new stake in General Dynamics Corporation (NYSE:GD) in the 3rd quarter, HoldingsChannel reports. The fund purchased 8,986 shares of the aerospace company’s stock, valued at approximately $3,064,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Gold Investment Management Ltd. raised its position in General Dynamics by 73.5% in the third quarter. Gold Investment Management Ltd. now owns 10,700 shares of the aerospace company’s stock worth $3,649,000 after acquiring an additional 4,532 shares in the last quarter. Truist Financial Corp grew its stake in shares of General Dynamics by 0.5% in the 2nd quarter. Truist Financial Corp now owns 286,456 shares of the aerospace company’s stock worth $83,548,000 after purchasing an additional 1,370 shares during the last quarter. Pure Financial Advisors LLC raised its holdings in shares of General Dynamics by 52.4% in the 2nd quarter. Pure Financial Advisors LLC now owns 9,181 shares of the aerospace company’s stock worth $2,678,000 after purchasing an additional 3,156 shares in the last quarter. Davis Capital Management acquired a new stake in General Dynamics during the third quarter valued at approximately $1,007,000. Finally, Los Angeles Capital Management LLC boosted its holdings in General Dynamics by 20.9% during the second quarter. Los Angeles Capital Management LLC now owns 299,137 shares of the aerospace company’s stock worth $87,246,000 after buying an additional 51,655 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other news, VP David Paddock sold 20,360 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $334.92, for a total value of $6,818,971.20. Following the transaction, the vice president directly owned 36,644 shares of the company’s stock, valued at approximately $12,272,808.48. This represents a 35.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.50% of the stock is currently owned by corporate insiders.

General Dynamics Trading Down 0.6%

NYSE:GD opened at $363.60 on Friday. The stock has a market cap of $98.22 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $369.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.40 and a quick ratio of 0.87. The stock’s 50-day moving average is $346.14 and its two-hundred day moving average is $332.80.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Friday, October 24th. The aerospace company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.69 by $0.19. The business had revenue of $12.91 billion during the quarter, compared to analysts’ expectations of $12.49 billion. General Dynamics had a net margin of 8.18% and a return on equity of 18.27%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted $3.35 earnings per share. As a group, equities research analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 16th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.7%. General Dynamics’s dividend payout ratio (DPR) is 38.89%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $400.00 price objective on shares of General Dynamics in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price target on General Dynamics from $380.00 to $385.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Argus boosted their price objective on General Dynamics from $345.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. Melius Research raised shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 28th. Finally, Robert W. Baird set a $390.00 target price on shares of General Dynamics in a research report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, General Dynamics currently has a consensus rating of “Moderate Buy” and an average target price of $366.70.

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.