Man Group plc Sells 33,453 Shares of General Dynamics Corporation $GD

Man Group plc cut its stake in shares of General Dynamics Corporation (NYSE:GD) by 8.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 344,370 shares of the aerospace company’s stock after selling 33,453 shares during the quarter. Man Group plc’s holdings in General Dynamics were worth $115,936,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Joule Financial LLC increased its holdings in shares of General Dynamics by 4.3% during the fourth quarter. Joule Financial LLC now owns 705 shares of the aerospace company’s stock valued at $237,000 after acquiring an additional 29 shares in the last quarter. Brown Miller Wealth Management LLC increased 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 valued at $2,993,000 after acquiring an additional 29 shares in the last quarter. First Financial Bankshares Inc increased its holdings in shares of General Dynamics by 2.6% during the third quarter. First Financial Bankshares Inc now owns 1,196 shares of the aerospace company’s stock valued at $408,000 after acquiring an additional 30 shares in the last quarter. Steph & Co. increased 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 valued at $26,000 after acquiring an additional 30 shares in the last quarter. Finally, Revolve Wealth Partners LLC increased its holdings in General Dynamics by 3.3% in the 4th quarter. Revolve Wealth Partners LLC now owns 978 shares of the aerospace company’s stock worth $329,000 after buying an additional 31 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. BNP Paribas Exane reduced their price objective on General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a report on Thursday, April 30th. UBS Group upgraded General Dynamics from a “neutral” rating to a “buy” rating in a report on Thursday, June 11th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $385.00 price objective on shares of General Dynamics in a report on Thursday, April 30th. JPMorgan Chase & Co. lifted their price objective on General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, Citigroup reduced their price objective on General Dynamics from $380.00 to $364.00 and set a “neutral” rating for the company in a report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, General Dynamics has a consensus rating of “Moderate Buy” and an average target price of $388.40.

Insider Activity

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was 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. The trade was a 48.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

General Dynamics Price Performance

NYSE GD opened at $362.79 on Thursday. The stock has a 50-day moving average of $341.05 and a 200 day moving average of $347.11. The company has a market capitalization of $98.11 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 2.26 and a beta of 0.34. General Dynamics Corporation has a one year low of $275.49 and a one year 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.

General Dynamics (NYSE:GD) last released its quarterly earnings results 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. The business had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.66 EPS. On average, sell-side analysts forecast that General Dynamics Corporation will post 16.62 EPS for the current year.

General Dynamics Dividend Announcement

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

General Dynamics 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.