Illinois Municipal Retirement Fund Increases Stake in General Dynamics Corporation $GD

Illinois Municipal Retirement Fund raised its position in shares of General Dynamics Corporation (NYSE:GD) by 127.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,166 shares of the aerospace company’s stock after purchasing an additional 2,899 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in General Dynamics were worth $1,773,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Joule Financial LLC raised its holdings in General Dynamics by 4.3% in the 4th quarter. Joule Financial LLC now owns 705 shares of the aerospace company’s stock worth $237,000 after acquiring an additional 29 shares during the last quarter. Brown Miller Wealth Management LLC boosted its stake in General Dynamics by 0.3% during the 4th quarter. Brown Miller Wealth Management LLC now owns 8,889 shares of the aerospace company’s stock valued at $2,993,000 after purchasing an additional 29 shares during the last quarter. Steph & Co. increased its holdings in shares of General Dynamics by 65.2% in the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 30 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of General Dynamics by 3.3% in the fourth quarter. Revolve Wealth Partners LLC now owns 978 shares of the aerospace company’s stock worth $329,000 after purchasing an additional 31 shares during the last quarter. Finally, New Wave Wealth Advisors LLC raised its stake in shares of General Dynamics by 4.4% in the fourth 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. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

GD opened at $370.61 on Tuesday. The company’s 50 day moving average is $353.26 and its 200 day moving average is $350.78. The company has a market cap of $100.22 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 2.22 and a beta of 0.34. General Dynamics Corporation has a 12-month low of $293.95 and a 12-month high of $380.71. 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 issued its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The firm had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $12.70 billion. During the same quarter in the previous year, the firm posted $3.66 EPS. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities research analysts predict that General Dynamics Corporation will post 16.64 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be given a $1.59 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 dividend on an annualized basis and a yield of 1.7%. General Dynamics’s dividend payout ratio is presently 40.03%.

Analysts Set New Price Targets

GD has been the topic of several recent analyst reports. Weiss Ratings raised General Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 1st. Royal Bank Of Canada reissued a “sector perform” rating and issued a $385.00 target price on shares of General Dynamics in a research report on Thursday, April 30th. BNP Paribas Exane dropped their price target on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating on the stock in a report on Thursday, April 30th. JPMorgan Chase & Co. lifted 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, DA Davidson decreased their price objective on shares of General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Two equities research 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 assigned a Sell rating to the stock. According to MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and a consensus target price of $391.15.

Insider Transactions at General Dynamics

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president owned 38,975 shares of the company’s stock, valued at $13,457,677.75. This trade represents a 48.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Malcolm sold 5,480 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total value of $2,000,200.00. Following the transaction, the director owned 10,643 shares of the company’s stock, valued at approximately $3,884,695. This trade represents a 33.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 78,190 shares of company stock valued at $27,041,022. 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.