MUFG Securities EMEA plc Purchases 231,481 Shares of General Dynamics Corporation $GD
by Scott Moore · The Cerbat GemMUFG Securities EMEA plc grew its stake in General Dynamics Corporation (NYSE:GD – Free Report) by 4,789.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 236,314 shares of the aerospace company’s stock after buying an additional 231,481 shares during the period. General Dynamics makes up about 0.9% of MUFG Securities EMEA plc’s holdings, making the stock its 19th biggest holding. MUFG Securities EMEA plc owned 0.09% of General Dynamics worth $79,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Edgemoor Investment Advisors Inc. grew its stake in General Dynamics by 1.1% in the 4th quarter. Edgemoor Investment Advisors Inc. now owns 56,902 shares of the aerospace company’s stock worth $19,157,000 after buying an additional 594 shares in the last quarter. National Pension Service grew its stake in General Dynamics by 25.5% in the 4th quarter. National Pension Service now owns 739,373 shares of the aerospace company’s stock worth $248,917,000 after buying an additional 150,186 shares in the last quarter. Linscomb Wealth Inc. grew its stake in General Dynamics by 1.5% in the 4th quarter. Linscomb Wealth Inc. now owns 14,443 shares of the aerospace company’s stock worth $4,862,000 after buying an additional 209 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in General Dynamics by 11.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 45,827 shares of the aerospace company’s stock worth $15,428,000 after buying an additional 4,890 shares in the last quarter. Finally, Intech Investment Management LLC grew its stake in General Dynamics by 33.7% in the 4th quarter. Intech Investment Management LLC now owns 25,135 shares of the aerospace company’s stock worth $8,462,000 after buying an additional 6,330 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.
General Dynamics Trading Down 0.7%
Shares of GD opened at $346.47 on Friday. The stock has a market capitalization of $93.69 billion, a P/E ratio of 21.80, a PEG ratio of 2.15 and a beta of 0.34. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. The firm has a fifty day simple moving average of $340.85 and a two-hundred day simple moving average of $346.56. General Dynamics Corporation has a twelve month low of $268.10 and a twelve month high of $369.70.
General Dynamics (NYSE:GD – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.43. The business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.66 EPS. On average, research analysts anticipate that General Dynamics Corporation will post 16.62 EPS for the current year.
General Dynamics Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 10th were given a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, April 10th. This is an increase from General Dynamics’s previous quarterly dividend of $1.50. General Dynamics’s dividend payout ratio is currently 40.03%.
Insider Buying and Selling at General Dynamics
In other General Dynamics news, CEO Phebe N. Novakovic sold 32,918 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $354.09, for a total transaction 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 represents a 4.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Marguerite Amy Gilliland sold 3,819 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $353.50, for a total transaction of $1,350,016.50. Following the sale, the executive vice president directly owned 44,767 shares of the company’s stock, valued at $15,825,134.50. The trade was a 7.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 119,600 shares of company stock valued at $41,650,580 in the last quarter. Company insiders own 1.40% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have commented on GD shares. BNP Paribas Exane cut their price target on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a research note on Thursday, April 30th. Jefferies Financial Group cut their price objective on shares of General Dynamics from $385.00 to $380.00 and set a “hold” rating for the company in a research note on Tuesday, April 7th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $385.00 price objective on shares of General Dynamics in a research note on Thursday, April 30th. Wells Fargo & Company began coverage on shares of General Dynamics in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 price objective for the company. Finally, Weiss Ratings cut shares of General Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, General Dynamics currently has a consensus rating of “Moderate Buy” and a consensus price target of $387.40.
View Our Latest Stock Report on General Dynamics
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.
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