SG Americas Securities LLC Raises Stake in General Dynamics Corporation $GD

SG Americas Securities LLC boosted its holdings in General Dynamics Corporation (NYSE:GD) by 26.9% during the first quarter, Holdings Channel.com reports. The firm owned 750,462 shares of the aerospace company’s stock after acquiring an additional 158,974 shares during the quarter. SG Americas Securities LLC’s holdings in General Dynamics were worth $257,574,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GD. Dunhill Financial LLC boosted its position in shares of General Dynamics by 620.0% in the 3rd quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 62 shares in the last quarter. KERR FINANCIAL PLANNING Corp bought a new position in General Dynamics during the 3rd quarter valued at approximately $25,000. Dagco Inc. purchased a new position in General Dynamics during the fourth quarter valued at $25,000. Burkett Financial Services LLC boosted its holdings 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 in the last quarter. Finally, Steph & Co. boosted its holdings 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 in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

NYSE:GD opened at $350.39 on Monday. The stock has a 50-day simple moving average of $341.10 and a two-hundred day simple moving average of $347.30. General Dynamics Corporation has a 52-week low of $275.49 and a 52-week high of $369.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. The firm has a market capitalization of $94.76 billion, a PE ratio of 22.05, a P/E/G ratio of 2.17 and a beta of 0.34.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $12.70 billion. During the same quarter in the prior year, the business posted $3.66 earnings per share. The business’s quarterly revenue was up 10.3% on a year-over-year basis. Analysts forecast that General Dynamics Corporation will post 16.62 EPS for the current 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 issued a $1.59 dividend. This represents a $6.36 annualized dividend 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%.

Analysts Set New Price Targets

GD has been the subject of several analyst reports. Morgan Stanley raised their price target on General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings cut shares of General Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 19th. The Goldman Sachs Group reduced their price objective on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating for the company in a research note on Monday, May 4th. Citigroup decreased their target price on shares of General Dynamics from $380.00 to $364.00 and set a “neutral” rating for the company in a report on Monday, May 18th. Finally, 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 note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, General Dynamics currently has a consensus rating of “Moderate Buy” and a consensus price target of $388.40.

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 that occurred on 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 sale, the executive vice president owned 38,975 shares in the company, valued at approximately $13,457,677.75. This trade represents a 48.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

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.