Burney Co. Trims Stock Position in General Dynamics Corporation $GD

Burney Co. decreased its position in shares of General Dynamics Corporation (NYSE:GD) by 21.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,373 shares of the aerospace company’s stock after selling 3,585 shares during the quarter. Burney Co.’s holdings in General Dynamics were worth $4,590,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC grew its stake in General Dynamics by 118.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,663,847 shares of the aerospace company’s stock worth $567,372,000 after buying an additional 901,679 shares during the last quarter. Northern Trust Corp lifted its stake in General Dynamics by 35.0% in the third quarter. Northern Trust Corp now owns 3,332,917 shares of the aerospace company’s stock valued at $1,136,525,000 after buying an additional 863,392 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of General Dynamics by 831.1% in the third quarter. Balyasny Asset Management L.P. now owns 737,259 shares of the aerospace company’s stock valued at $251,405,000 after acquiring an additional 658,081 shares during the period. SG Americas Securities LLC grew its position in shares of General Dynamics by 6,680.8% during the fourth quarter. SG Americas Securities LLC now owns 591,488 shares of the aerospace company’s stock worth $199,130,000 after acquiring an additional 582,765 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of General Dynamics by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock valued at $8,338,169,000 after acquiring an additional 528,769 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Dynamics

In other news, Director Mark Malcolm sold 5,480 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total value of $2,000,200.00. Following the completion of the transaction, the director directly owned 10,643 shares of the company’s stock, valued at $3,884,695. The trade was a 33.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mark Lagrand Burns sold 36,480 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president owned 38,975 shares in the company, valued at $13,457,677.75. This represents a 48.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 78,190 shares of company stock valued at $27,041,022 in the last three months. 1.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GD. DA Davidson decreased their price target on shares of General Dynamics from $384.00 to $375.00 in a research note on Thursday, April 30th. Jefferies Financial Group upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and increased their target price for the stock from $380.00 to $400.00 in a research note on Thursday, June 11th. Royal Bank Of Canada restated a “sector perform” rating and issued a $385.00 price target on shares of General Dynamics in a research report on Thursday, April 30th. Citigroup decreased their price objective on General Dynamics from $380.00 to $364.00 and set a “neutral” rating for the company in a research report on Monday, May 18th. Finally, Weiss Ratings raised General Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $389.15.

General Dynamics Stock Down 0.6%

GD opened at $374.49 on Wednesday. General Dynamics Corporation has a one year low of $293.95 and a one year high of $380.71. The company has a market cap of $101.27 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 2.34 and a beta of 0.34. The business’s fifty day moving average is $347.36 and its two-hundred day moving average is $348.95. 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 released 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. The business had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.66 EPS. Analysts anticipate that General Dynamics Corporation will post 16.63 EPS for the current fiscal year.

General Dynamics Dividend Announcement

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

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.