Swiss National Bank Has $231.27 Million Stake in General Dynamics Corporation $GD

Swiss National Bank lifted its position in General Dynamics Corporation (NYSE:GD) by 7.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 673,826 shares of the aerospace company’s stock after buying an additional 47,320 shares during the quarter. Swiss National Bank’s holdings in General Dynamics were worth $231,271,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in General Dynamics by 118.3% in the third quarter. AQR Capital Management LLC now owns 1,663,847 shares of the aerospace company’s stock valued at $567,372,000 after acquiring an additional 901,679 shares during the last quarter. Northern Trust Corp raised its holdings in shares of General Dynamics by 35.0% during the 3rd quarter. Northern Trust Corp now owns 3,332,917 shares of the aerospace company’s stock valued at $1,136,525,000 after purchasing an additional 863,392 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of General Dynamics by 831.1% in the 3rd quarter. Balyasny Asset Management L.P. now owns 737,259 shares of the aerospace company’s stock valued at $251,405,000 after purchasing an additional 658,081 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of General Dynamics by 6,680.8% in the 4th quarter. SG Americas Securities LLC now owns 591,488 shares of the aerospace company’s stock valued at $199,130,000 after purchasing an additional 582,765 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in General Dynamics by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock worth $8,338,169,000 after purchasing an additional 528,769 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on GD. Deutsche Bank Aktiengesellschaft cut their target price on General Dynamics from $387.00 to $377.00 and set a “hold” rating on the stock in a report on Wednesday, May 6th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $385.00 price target on shares of General Dynamics in a research note on Thursday, April 30th. Wells Fargo & Company initiated coverage on General Dynamics in a report on Wednesday, April 1st. They set an “overweight” rating and a $400.00 price objective on the stock. Morgan Stanley boosted their target price on General Dynamics from $410.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, DA Davidson decreased their target price on General Dynamics from $384.00 to $375.00 in a research 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 assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and an average target price of $391.15.

Insider Buying and Selling

In other news, 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 sale, the director directly owned 10,643 shares of the company’s stock, valued at approximately $3,884,695. This represents a 33.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $12,596,179.20. Following the completion of the sale, the executive vice president owned 38,975 shares in the company, valued at approximately $13,457,677.75. The trade was a 48.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 78,190 shares of company stock worth $27,041,022 in the last ninety days. Insiders own 1.40% of the company’s stock.

General Dynamics Stock Up 0.1%

General Dynamics stock opened at $368.91 on Monday. The firm has a market cap of $99.76 billion, a price-to-earnings ratio of 23.22, a P/E/G ratio of 2.22 and a beta of 0.34. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90. General Dynamics Corporation has a fifty-two week low of $293.95 and a fifty-two week high of $380.71. The firm has a fifty day moving average price of $352.73 and a two-hundred day moving average price of $350.56.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.43. The company had revenue of $13.48 billion for 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 firm’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business posted $3.66 earnings per share. As a group, analysts forecast that General Dynamics Corporation will post 16.64 earnings per share for the current year.

General Dynamics Dividend Announcement

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

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.