iA Global Asset Management Inc. Grows Position in General Dynamics Corporation $GD

iA Global Asset Management Inc. raised its position in shares of General Dynamics Corporation (NYSE:GD) by 606.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,822 shares of the aerospace company’s stock after acquiring an additional 9,290 shares during the period. iA Global Asset Management Inc.’s holdings in General Dynamics were worth $3,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp grew its stake in shares of General Dynamics by 1.1% in the 2nd quarter. State Street Corp now owns 11,140,437 shares of the aerospace company’s stock worth $3,249,220,000 after buying an additional 119,664 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of General Dynamics by 25.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,439,720 shares of the aerospace company’s stock valued at $1,003,444,000 after acquiring an additional 691,340 shares during the last quarter. Invesco Ltd. grew its position in General Dynamics by 0.4% in the second quarter. Invesco Ltd. now owns 2,385,573 shares of the aerospace company’s stock worth $695,776,000 after acquiring an additional 9,283 shares in the last quarter. Franklin Resources Inc. increased its stake in General Dynamics by 2.5% during the second quarter. Franklin Resources Inc. now owns 1,712,190 shares of the aerospace company’s stock worth $499,377,000 after acquiring an additional 41,349 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in General Dynamics by 1.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,598,847 shares of the aerospace company’s stock valued at $466,320,000 after purchasing an additional 16,459 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Trading Down 0.6%

GD stock opened at $363.60 on Friday. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $369.70. The firm’s 50-day moving average is $346.14 and its 200 day moving average is $332.80. The company has a market capitalization of $98.22 billion, a PE ratio of 23.56, a P/E/G ratio of 1.81 and a beta of 0.41. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.40 and a quick ratio of 0.87.

General Dynamics (NYSE:GD) last issued its earnings results on Friday, October 24th. The aerospace company reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.69 by $0.19. General Dynamics had a net margin of 8.18% and a return on equity of 18.27%. The business had revenue of $12.91 billion for the quarter, compared to the consensus estimate of $12.49 billion. During the same period in the prior year, the firm earned $3.35 EPS. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, research analysts anticipate that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 16th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, January 16th. General Dynamics’s dividend payout ratio (DPR) is presently 38.89%.

Insiders Place Their Bets

In other General Dynamics news, VP David Paddock sold 20,360 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $334.92, for a total value of $6,818,971.20. Following the completion of the sale, the vice president directly owned 36,644 shares in the company, valued at approximately $12,272,808.48. This represents a 35.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GD. Citigroup boosted their target price on General Dynamics from $371.00 to $389.00 and gave the company a “neutral” rating in a research report on Tuesday, January 13th. Robert W. Baird set a $390.00 price objective on shares of General Dynamics in a research report on Monday, October 27th. Sanford C. Bernstein restated a “market perform” rating and issued a $398.00 target price on shares of General Dynamics in a report on Monday, January 12th. Vertical Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $400.00 price target on the stock in a report on Monday, October 27th. Finally, Susquehanna reissued a “positive” rating and issued a $420.00 price objective on shares of General Dynamics in a research report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, General Dynamics has an average rating of “Moderate Buy” and an average target price of $366.70.

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.