General Dynamics Corporation $GD Stock Holdings Lessened by iA Global Asset Management Inc.

iA Global Asset Management Inc. cut its stake in shares of General Dynamics Corporation (NYSE:GD) by 88.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,663 shares of the aerospace company’s stock after selling 12,687 shares during the period. iA Global Asset Management Inc.’s holdings in General Dynamics were worth $571,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Joule Financial LLC boosted its stake in shares of General Dynamics by 4.3% during the 4th quarter. Joule Financial LLC now owns 705 shares of the aerospace company’s stock valued at $237,000 after buying an additional 29 shares during the period. Brown Miller Wealth Management LLC raised its holdings in shares of General Dynamics by 0.3% during the fourth quarter. Brown Miller Wealth Management LLC now owns 8,889 shares of the aerospace company’s stock worth $2,993,000 after acquiring an additional 29 shares in the last quarter. Steph & Co. raised its holdings in shares of General Dynamics by 65.2% during 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. Revolve Wealth Partners LLC boosted its position in General Dynamics by 3.3% during the fourth quarter. Revolve Wealth Partners LLC now owns 978 shares of the aerospace company’s stock valued at $329,000 after purchasing an additional 31 shares during the last quarter. Finally, New Wave Wealth Advisors LLC increased its position in General Dynamics by 4.4% in the 4th quarter. New Wave Wealth Advisors LLC now owns 733 shares of the aerospace company’s stock worth $247,000 after purchasing an additional 31 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Price Performance

Shares of GD stock opened at $373.34 on Friday. General Dynamics Corporation has a 12 month low of $292.34 and a 12 month high of $373.60. The company has a market capitalization of $100.96 billion, a P/E ratio of 23.50, a P/E/G ratio of 2.25 and a beta of 0.34. The stock has a 50 day moving average of $343.92 and a two-hundred day moving average of $348.18. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.43. The firm 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 business’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.66 earnings per share. As a group, equities analysts expect that General Dynamics Corporation will post 16.63 EPS for the current year.

General Dynamics Announces Dividend

The business also recently disclosed 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 of this dividend is Thursday, July 2nd. General Dynamics’s payout ratio is presently 40.03%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GD shares. Weiss Ratings upgraded General Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday. BNP Paribas Exane cut their price objective 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. The Goldman Sachs Group decreased their target price on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating for the company in a research report on Monday, May 4th. JPMorgan Chase & Co. increased their price target on shares of General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, Wells Fargo & Company started coverage on shares of General Dynamics in a report on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $388.40.

Insider Buying and Selling

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was 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 in the company, valued at approximately $13,457,677.75. This represents a 48.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark Malcolm sold 5,480 shares of the stock in a transaction that occurred 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 approximately $3,884,695. The trade was a 33.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 78,190 shares of company stock worth $27,041,022 over the last ninety days. Company insiders own 1.40% of the company’s stock.

About General Dynamics

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.