UniSuper Management Pty Ltd Increases Stake in General Dynamics Co. (NYSE:GD)

UniSuper Management Pty Ltd grew its stake in General Dynamics Co. (NYSE:GD) by 232.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,538 shares of the aerospace company’s stock after buying an additional 4,574 shares during the quarter. UniSuper Management Pty Ltd’s holdings in General Dynamics were worth $1,847,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in GD. Redmont Wealth Advisors LLC acquired a new stake in shares of General Dynamics during the 1st quarter worth about $25,000. MeadowBrook Investment Advisors LLC acquired a new stake in shares of General Dynamics during the 4th quarter worth about $25,000. Richardson Financial Services Inc. acquired a new stake in shares of General Dynamics during the 4th quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of General Dynamics during the 1st quarter worth about $29,000. Finally, Legend Financial Advisors Inc. raised its position in shares of General Dynamics by 46.8% during the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other General Dynamics news, VP Gregory S. Gallopoulos sold 13,567 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the sale, the vice president now directly owns 103,345 shares in the company, valued at $29,816,065.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other General Dynamics news, VP Gregory S. Gallopoulos sold 13,567 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the sale, the vice president now directly owns 103,345 shares in the company, valued at $29,816,065.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $284.50, for a total value of $14,182,325.00. Following the sale, the chief executive officer now owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The disclosure for this sale can be found here. Insiders sold 118,486 shares of company stock worth $34,391,642 over the last three months. 1.52% of the stock is owned by insiders.

General Dynamics Trading Down 3.3 %

General Dynamics stock traded down $9.79 during trading on Wednesday, hitting $284.67. The company’s stock had a trading volume of 3,094,386 shares, compared to its average volume of 1,066,455. The stock has a market capitalization of $78.10 billion, a price-to-earnings ratio of 23.16, a P/E/G ratio of 1.66 and a beta of 0.60. The stock’s fifty day moving average is $293.11 and its 200 day moving average is $281.82. General Dynamics Co. has a 1-year low of $213.47 and a 1-year high of $302.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.44.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.01). The business had revenue of $10.73 billion during the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.64 earnings per share. As a group, equities research analysts predict that General Dynamics Co. will post 14.54 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be paid a dividend of $1.42 per share. The ex-dividend date is Friday, July 5th. This represents a $5.68 annualized dividend and a yield of 2.00%. General Dynamics’s dividend payout ratio is presently 46.33%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Sanford C. Bernstein lifted their price target on General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Argus lifted their price target on General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Wells Fargo & Company lifted their price target on General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research report on Tuesday, July 2nd. Finally, BTIG Research assumed coverage on General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, General Dynamics currently has a consensus rating of “Moderate Buy” and an average target price of $307.94.

General Dynamics Company 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.