Gulf International Bank UK Ltd Increases Stake in General Dynamics Co. (GD)

Gulf International Bank UK Ltd grew its position in General Dynamics Co. (NYSE:GD) by 0.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 21,209 shares of the aerospace company’s stock after acquiring an additional 180 shares during the period. Gulf International Bank UK Ltd’s holdings in General Dynamics were worth $3,590,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in GD. Telos Capital Management Inc. acquired a new stake in General Dynamics during the 1st quarter worth about $210,000. IFM Investors Pty Ltd grew its holdings in General Dynamics by 16.1% during the 1st quarter. IFM Investors Pty Ltd now owns 15,510 shares of the aerospace company’s stock worth $2,626,000 after acquiring an additional 2,156 shares during the period. Moreno Evelyn V grew its holdings in General Dynamics by 61.9% during the 1st quarter. Moreno Evelyn V now owns 30,139 shares of the aerospace company’s stock worth $5,102,000 after acquiring an additional 11,522 shares during the period. Cohen Lawrence B grew its holdings in General Dynamics by 21.8% during the 1st quarter. Cohen Lawrence B now owns 7,363 shares of the aerospace company’s stock worth $1,246,000 after acquiring an additional 1,316 shares during the period. Finally, Wedbush Securities Inc. grew its holdings in General Dynamics by 5.3% during the 1st quarter. Wedbush Securities Inc. now owns 13,507 shares of the aerospace company’s stock worth $2,286,000 after acquiring an additional 681 shares during the period. Institutional investors own 87.27% of the company’s stock.

In related news, Director Lester L. Lyles sold 4,580 shares of the firm’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $172.42, for a total value of $789,683.60. Following the transaction, the director now owns 12,314 shares of the company’s stock, valued at approximately $2,123,179.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Christopher J. Brady sold 2,327 shares of the firm’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $171.23, for a total transaction of $398,452.21. Following the completion of the transaction, the vice president now directly owns 5,134 shares in the company, valued at approximately $879,094.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,017 shares of company stock worth $11,451,055. 7.10% of the stock is owned by insiders.

GD has been the subject of a number of recent analyst reports. FIG Partners upgraded General Dynamics to an “add” rating in a report on Tuesday, January 8th. Credit Suisse Group reiterated a “buy” rating and set a $190.00 price target on shares of General Dynamics in a report on Monday, January 14th. Drexel Hamilton reissued a “buy” rating and set a $230.00 price objective on shares of General Dynamics in a research report on Monday, February 4th. Cowen reissued a “buy” rating on shares of General Dynamics in a research report on Wednesday, March 6th. Finally, Argus cut shares of General Dynamics from a “buy” rating to a “hold” rating and set a $170.91 price objective on the stock. in a research report on Thursday, January 31st. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $204.43.

GD stock opened at $176.85 on Friday. The stock has a market cap of $51.07 billion, a PE ratio of 15.49, a P/E/G ratio of 1.64 and a beta of 1.12. The company has a current ratio of 1.23, a quick ratio of 0.83 and a debt-to-equity ratio of 0.98. General Dynamics Co. has a 1 year low of $143.87 and a 1 year high of $229.74.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, January 30th. The aerospace company reported $3.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.98 by $0.09. General Dynamics had a net margin of 9.24% and a return on equity of 28.33%. The company had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.34 billion. During the same quarter in the prior year, the firm earned $2.50 EPS. The business’s revenue was up 25.4% on a year-over-year basis. As a group, sell-side analysts expect that General Dynamics Co. will post 11.72 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be given a $1.02 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $4.08 annualized dividend and a yield of 2.31%. General Dynamics’s dividend payout ratio (DPR) is presently 35.73%.

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General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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