Industrial Alliance Investment Management Inc. Boosts Position in General Dynamics Co. (NYSE:GD)

Industrial Alliance Investment Management Inc. boosted its holdings in shares of General Dynamics Co. (NYSE:GD) by 4.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,574 shares of the aerospace company’s stock after buying an additional 66 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in General Dynamics were worth $445,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GD. Norges Bank purchased a new position in General Dynamics during the 4th quarter worth approximately $728,284,000. International Assets Investment Management LLC increased its holdings in shares of General Dynamics by 10,763.2% during the 4th quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock valued at $239,829,000 after purchasing an additional 915,091 shares in the last quarter. Verity & Verity LLC purchased a new position in shares of General Dynamics during the 1st quarter valued at approximately $179,000. 1832 Asset Management L.P. increased its holdings in shares of General Dynamics by 3,645.4% during the 4th quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock valued at $145,048,000 after purchasing an additional 543,672 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its holdings in shares of General Dynamics by 879.9% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock valued at $96,148,000 after purchasing an additional 305,624 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GD. Morgan Stanley lifted their target price on shares of General Dynamics from $271.00 to $293.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. BTIG Research assumed coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target on the stock. Citigroup lifted their price target on shares of General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of General Dynamics in a research note on Monday. Finally, Susquehanna lifted their price target on shares of General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research note on Friday, April 12th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $312.17.

General Dynamics Trading Up 1.2 %

GD traded up $3.56 on Tuesday, hitting $293.05. The company had a trading volume of 857,991 shares, compared to its average volume of 1,071,985. The firm has a market cap of $80.52 billion, a P/E ratio of 23.61, a PEG ratio of 1.66 and a beta of 0.60. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $302.75. The company’s fifty day moving average price is $292.43 and its 200 day moving average price is $282.88. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.30 by ($0.04). The company had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.70 earnings per share. As a group, equities analysts expect that General Dynamics Co. will post 14.51 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s dividend payout ratio is presently 46.33%.

Insider Transactions at General Dynamics

In other news, CFO Kimberly A. Kuryea sold 13,344 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the completion of the transaction, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at $23,630,670.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Kimberly A. Kuryea sold 13,344 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the completion of the sale, the chief financial officer now owns 79,255 shares in the company, valued at approximately $23,630,670.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Mark Lagrand Burns sold 12,089 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $296.59, for a total transaction of $3,585,476.51. Following the sale, the vice president now owns 64,132 shares of the company’s stock, valued at approximately $19,020,909.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,069 shares of company stock valued at $16,295,101. 1.52% of the stock is currently owned by corporate insiders.

General Dynamics Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.