TD Asset Management Inc Raises Stock Holdings in General Dynamics Corporation $GD

TD Asset Management Inc lifted its holdings in General Dynamics Corporation (NYSE:GD) by 5.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 219,993 shares of the aerospace company’s stock after buying an additional 11,590 shares during the quarter. TD Asset Management Inc’s holdings in General Dynamics were worth $74,063,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Sivia Capital Partners LLC raised its holdings in shares of General Dynamics by 139.9% in the fourth quarter. Sivia Capital Partners LLC now owns 3,395 shares of the aerospace company’s stock worth $1,143,000 after buying an additional 1,980 shares during the period. REAP Financial Group LLC increased its holdings in General Dynamics by 14.5% during the 4th quarter. REAP Financial Group LLC now owns 538 shares of the aerospace company’s stock worth $181,000 after purchasing an additional 68 shares during the period. WCG Wealth Advisors LLC purchased a new position in General Dynamics during the 4th quarter worth $5,867,000. Avestar Capital LLC increased its holdings in General Dynamics by 4.4% during the 4th quarter. Avestar Capital LLC now owns 1,727 shares of the aerospace company’s stock worth $581,000 after purchasing an additional 72 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in General Dynamics by 33.2% during the 4th quarter. CIBC Asset Management Inc now owns 99,079 shares of the aerospace company’s stock worth $33,341,000 after purchasing an additional 24,676 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Trading Up 1.4%

Shares of NYSE:GD opened at $346.43 on Friday. General Dynamics Corporation has a 12-month low of $268.10 and a 12-month high of $369.70. The business’s fifty day simple moving average is $340.09 and its 200-day simple moving average is $346.31. The company has a market capitalization of $93.69 billion, a PE ratio of 21.80, a P/E/G ratio of 2.12 and a beta of 0.34. 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 announced 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. 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 for the quarter, compared to the consensus estimate of $12.70 billion. During the same period last year, the business posted $3.66 EPS. The business’s revenue was up 10.3% compared to the same quarter last year. As a group, equities research analysts predict that General Dynamics Corporation will post 16.62 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 2nd will be given a $1.59 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.8%. General Dynamics’s dividend payout ratio (DPR) is presently 40.03%.

Analyst Upgrades and Downgrades

Several research firms have commented on GD. Morgan Stanley raised their price objective on General Dynamics from $410.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Royal Bank Of Canada restated a “sector perform” rating and set a $385.00 price objective on shares of General Dynamics in a report on Thursday, April 30th. UBS Group reduced their price objective on General Dynamics from $385.00 to $371.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Jefferies Financial Group reduced their price objective on General Dynamics from $385.00 to $380.00 and set a “hold” rating on the stock in a report on Tuesday, April 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on General Dynamics from $387.00 to $377.00 and set a “hold” rating on the stock in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $387.40.

Insider Transactions at General Dynamics

In other news, CEO Phebe N. Novakovic sold 32,918 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $354.09, for a total value of $11,655,934.62. Following the completion of the sale, the chief executive officer owned 766,457 shares of the company’s stock, valued at $271,394,759.13. This trade represents a 4.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Lagrand Burns sold 36,480 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president directly owned 38,975 shares of the company’s stock, valued at $13,457,677.75. The trade was a 48.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 119,600 shares of company stock valued at $41,650,580 in the last quarter. 1.40% of the stock is currently owned by corporate insiders.

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.