Mach 1 Financial Group LLC Takes Position in General Dynamics Corporation $GD

Mach 1 Financial Group LLC bought a new position in shares of General Dynamics Corporation (NYSE:GD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,678 shares of the aerospace company’s stock, valued at approximately $1,238,000.

Other hedge funds have also added to or reduced their stakes in the company. WASHINGTON TRUST Co lifted its position in shares of General Dynamics by 453.3% in the 3rd quarter. WASHINGTON TRUST Co now owns 9,418 shares of the aerospace company’s stock worth $3,212,000 after purchasing an additional 7,716 shares during the period. Rockland Trust Co. lifted its position in shares of General Dynamics by 703.4% in the 3rd quarter. Rockland Trust Co. now owns 10,548 shares of the aerospace company’s stock worth $3,597,000 after purchasing an additional 9,235 shares during the period. Vanguard Group Inc. lifted its position 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 worth $8,338,169,000 after purchasing an additional 528,769 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of General Dynamics by 3.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 917,424 shares of the aerospace company’s stock worth $312,842,000 after purchasing an additional 32,262 shares during the period. Finally, Modern Wealth Management LLC lifted its position in shares of General Dynamics by 114.7% during the 3rd quarter. Modern Wealth Management LLC now owns 6,124 shares of the aerospace company’s stock valued at $2,088,000 after acquiring an additional 3,271 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at General Dynamics

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the 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 sale, the executive vice president directly owned 38,975 shares of the company’s stock, valued at approximately $13,457,677.75. This represents a 48.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Phebe N. Novakovic sold 32,918 shares of the stock in a transaction dated 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 in the company, valued at approximately $271,394,759.13. The trade was a 4.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 119,600 shares of company stock valued at $41,650,580. 1.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GD has been the topic of a number of research reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $385.00 target price on shares of General Dynamics in a research report on Thursday, April 30th. BNP Paribas Exane dropped their target price on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating on the stock in a research report on Thursday, April 30th. Morgan Stanley boosted their target price on shares of General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Citigroup decreased their price target on shares of General Dynamics from $380.00 to $364.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Weiss Ratings lowered shares of General Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. 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 issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $387.40.

General Dynamics Price Performance

NYSE GD opened at $339.54 on Thursday. The company has a market cap of $91.82 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 2.11 and a beta of 0.34. General Dynamics Corporation has a 52 week low of $268.10 and a 52 week high of $369.70. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. The firm’s 50-day simple moving average is $342.29 and its two-hundred day simple moving average is $346.54.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, beating the consensus estimate of $3.67 by $0.43. The business had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.66 earnings per share. Research analysts predict that General Dynamics Corporation will post 16.62 earnings per share for the current year.

General Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 10th were issued a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a yield of 1.9%. 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. General Dynamics’s payout ratio is currently 40.03%.

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.