Smithbridge Asset Management Inc. DE Has $3.39 Million Position in General Dynamics Corporation $GD

Smithbridge Asset Management Inc. DE grew its holdings in General Dynamics Corporation (NYSE:GD) by 149.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,060 shares of the aerospace company’s stock after purchasing an additional 6,030 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in General Dynamics were worth $3,387,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in GD. Dunhill Financial LLC grew its stake in shares of General Dynamics by 620.0% in the third quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 62 shares during the last quarter. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of General Dynamics in the third quarter worth $25,000. Dagco Inc. acquired a new stake in shares of General Dynamics in the fourth quarter worth $25,000. Burkett Financial Services LLC grew its stake in shares of General Dynamics by 650.0% in the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 65 shares during the last quarter. Finally, Steph & Co. grew its stake in shares of General Dynamics by 65.2% in the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 30 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of General Dynamics stock in a transaction that occurred 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 sale, the executive vice president directly owned 38,975 shares of the company’s stock, valued at approximately $13,457,677.75. The trade was a 48.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

General Dynamics Stock Down 1.2%

GD opened at $341.46 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90. The firm’s fifty day moving average price is $339.82 and its two-hundred day moving average price is $346.36. The company has a market capitalization of $92.34 billion, a P/E ratio of 21.49, a P/E/G ratio of 2.14 and a beta of 0.34. General Dynamics Corporation has a fifty-two week low of $268.10 and a fifty-two week high of $369.70.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the business earned $3.66 earnings per share. On average, analysts anticipate that General Dynamics Corporation will post 16.62 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be issued a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics’s payout ratio is presently 40.03%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GD shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Dynamics from $387.00 to $377.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. JPMorgan Chase & Co. lifted their target price on General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Citigroup decreased their target price on General Dynamics from $380.00 to $364.00 and set a “neutral” rating on the stock in a research report on Monday, May 18th. The Goldman Sachs Group decreased their target price on General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a research report on Monday, May 4th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $385.00 target price on shares of General Dynamics in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $387.40.

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.