QRG Capital Management Inc. Grows Position in General Dynamics Corporation $GD

QRG Capital Management Inc. grew its holdings in General Dynamics Corporation (NYSE:GD) by 23.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,408 shares of the aerospace company’s stock after purchasing an additional 11,964 shares during the quarter. QRG Capital Management Inc.’s holdings in General Dynamics were worth $21,763,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GD. KERR FINANCIAL PLANNING Corp acquired a new stake in General Dynamics during the third quarter worth about $25,000. Dagco Inc. purchased a new position in General Dynamics in the fourth quarter worth approximately $25,000. Burkett Financial Services LLC lifted its stake in shares of General Dynamics by 650.0% in the 3rd quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 65 shares during the last quarter. Steph & Co. increased its position in shares of General Dynamics by 65.2% during the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 30 shares during the last quarter. Finally, Motiv8 Investments LLC acquired a new position in General Dynamics in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Down 0.1%

GD stock opened at $373.34 on Friday. The stock has a market cap of $100.96 billion, a P/E ratio of 23.50, a PEG ratio of 2.31 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 Corporation has a twelve month low of $292.34 and a twelve month high of $373.60. The company’s 50 day moving average is $344.97 and its two-hundred day moving average is $348.35.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, topping the consensus estimate of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The firm had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. During the same period last year, the business earned $3.66 EPS. General Dynamics’s revenue for the quarter was up 10.3% compared to the same quarter last year. Research analysts expect that General Dynamics Corporation will post 16.63 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

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

Wall Street Analysts Forecast Growth

GD has been the subject of a number of research analyst reports. BNP Paribas Exane lowered their price objective on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a research report on Thursday, April 30th. Royal Bank Of Canada restated a “sector perform” rating and set a $385.00 target price on shares of General Dynamics in a report on Thursday, April 30th. Wall Street Zen raised shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Citigroup reduced their target price on shares of General Dynamics from $380.00 to $364.00 and set a “neutral” rating on the stock in a report on Monday, May 18th. Finally, Morgan Stanley increased their price objective on General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $388.40.

Insiders Place Their Bets

In other General Dynamics 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 transaction 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 trade represents a 33.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Lagrand Burns sold 36,480 shares of General Dynamics stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the transaction, the executive vice president owned 38,975 shares in the company, valued at approximately $13,457,677.75. This trade represents a 48.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 78,190 shares of company stock valued at $27,041,022. 1.40% of the stock is owned by company insiders.

General Dynamics Company 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.