Man Group plc Sells 33,453 Shares of General Dynamics Corporation $GD

Man Group plc decreased its position in General Dynamics Corporation (NYSE:GD) by 8.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 344,370 shares of the aerospace company’s stock after selling 33,453 shares during the period. Man Group plc owned about 0.13% of General Dynamics worth $115,936,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in GD. Dunhill Financial LLC lifted its stake in General Dynamics by 620.0% in the third quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 62 shares during the period. KERR FINANCIAL PLANNING Corp purchased a new stake in General Dynamics in the third quarter worth $25,000. Dagco Inc. purchased a new stake in General Dynamics in the fourth quarter worth $25,000. Burkett Financial Services LLC lifted its stake in General Dynamics by 650.0% in the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 65 shares during the period. Finally, Steph & Co. lifted its stake in General Dynamics by 65.2% in the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 30 shares during the period. Institutional investors own 86.14% of the company’s stock.

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 on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the transaction, the executive vice president owned 38,975 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Corporate insiders own 1.40% of the company’s stock.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $362.79 on Thursday. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $98.11 billion, a P/E ratio of 22.83, a P/E/G ratio of 2.26 and a beta of 0.34. The business has a fifty day simple moving average of $341.05 and a two-hundred day simple moving average of $347.11. General Dynamics Corporation has a 12 month low of $275.49 and a 12 month high of $369.70.

General Dynamics (NYSE:GD) last announced 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 during the quarter, compared to analyst estimates of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.66 earnings per share. On average, equities analysts forecast that General Dynamics Corporation will post 16.62 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be given a dividend of $1.59 per share. The ex-dividend date of this dividend 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 currently 40.03%.

Analyst Ratings Changes

A number of brokerages recently commented on GD. Morgan Stanley raised their price target on General Dynamics from $410.00 to $435.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. BNP Paribas Exane dropped their price target on General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a research note on Thursday, April 30th. Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and raised their price target for the stock from $380.00 to $400.00 in a research note on Thursday, June 11th. Weiss Ratings lowered General Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 19th. Finally, The Goldman Sachs Group dropped their price target on General Dynamics from $327.00 to $313.00 and set a “sell” rating for the company in a research note on Monday, May 4th. 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average 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.