Y Intercept Hong Kong Ltd Makes New $8.83 Million Investment in General Dynamics Corporation $GD

Y Intercept Hong Kong Ltd bought a new position in shares of General Dynamics Corporation (NYSE:GD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,212 shares of the aerospace company’s stock, valued at approximately $8,825,000.

Several other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC increased its holdings in shares of General Dynamics by 16.9% in the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company’s stock worth $760,000 after purchasing an additional 417 shares during the period. Acadian Asset Management LLC increased its holdings in shares of General Dynamics by 140.2% in the first quarter. Acadian Asset Management LLC now owns 3,445 shares of the aerospace company’s stock worth $938,000 after purchasing an additional 2,011 shares during the period. Sivia Capital Partners LLC bought a new position in shares of General Dynamics in the second quarter worth $240,000. Flow Traders U.S. LLC bought a new position in shares of General Dynamics in the second quarter worth $352,000. Finally, Jump Financial LLC bought a new position in shares of General Dynamics in the second quarter worth $1,284,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Up 0.3%

GD opened at $359.92 on Friday. The stock has a market cap of $97.33 billion, a PE ratio of 22.65, a P/E/G ratio of 2.23 and a beta of 0.34. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. General Dynamics Corporation has a 52 week low of $275.49 and a 52 week high of $369.70. The business’s fifty day simple moving average is $340.32 and its 200 day simple moving average is $346.59.

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

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be paid a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics’s dividend payout ratio is currently 40.03%.

Insider Buying and Selling

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the sale, the executive vice president directly 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. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GD shares. Weiss Ratings cut shares of General Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, May 19th. Citigroup decreased their price target on shares of General Dynamics from $380.00 to $364.00 and set a “neutral” rating on the stock in a report on Monday, May 18th. Wells Fargo & Company began coverage on shares of General Dynamics in a report on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 price target on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on General Dynamics from $387.00 to $377.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. Finally, DA Davidson reduced their target price on General Dynamics from $384.00 to $375.00 in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned 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 an average 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.