Canada Pension Plan Investment Board Buys 50,426 Shares of General Dynamics Co. (NYSE:GD)

Canada Pension Plan Investment Board increased its stake in shares of General Dynamics Co. (NYSE:GD) by 33.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,644 shares of the aerospace company’s stock after buying an additional 50,426 shares during the quarter. Canada Pension Plan Investment Board owned 0.07% of General Dynamics worth $56,397,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Westwood Holdings Group Inc. grew its stake in General Dynamics by 32.6% in the 1st quarter. Westwood Holdings Group Inc. now owns 139,778 shares of the aerospace company’s stock valued at $39,486,000 after purchasing an additional 34,340 shares during the period. Toronto Dominion Bank grew its stake in General Dynamics by 1.6% in the 1st quarter. Toronto Dominion Bank now owns 173,654 shares of the aerospace company’s stock valued at $49,056,000 after purchasing an additional 2,728 shares during the period. Sheaff Brock Investment Advisors LLC grew its stake in General Dynamics by 0.4% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 26,107 shares of the aerospace company’s stock valued at $7,375,000 after purchasing an additional 103 shares during the period. Cadence Bank grew its stake in General Dynamics by 6.1% in the 1st quarter. Cadence Bank now owns 34,128 shares of the aerospace company’s stock valued at $9,641,000 after purchasing an additional 1,977 shares during the period. Finally, Rodgers Brothers Inc. grew its stake in General Dynamics by 1.5% in the 1st quarter. Rodgers Brothers Inc. now owns 20,971 shares of the aerospace company’s stock valued at $5,924,000 after purchasing an additional 300 shares during the period. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

NYSE:GD opened at $290.40 on Friday. The business’s 50-day moving average price is $292.65 and its two-hundred day moving average price is $282.38. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $302.75. The stock has a market cap of $79.80 billion, a P/E ratio of 23.69, a PEG ratio of 1.66 and a beta of 0.60. The company has a quick ratio of 0.87, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.

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

General Dynamics Dividend Announcement

The company 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. The ex-dividend date is Friday, July 5th. This represents a $5.68 annualized dividend and a dividend yield of 1.96%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Insider Activity

In related news, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 79,255 shares in the company, valued at approximately $23,630,670.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 79,255 shares in the company, valued at approximately $23,630,670.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $288.51, for a total value of $3,914,215.17. Following the transaction, the vice president now owns 103,345 shares in the company, valued at $29,816,065.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,636 shares of company stock worth $20,209,317. 1.52% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GD has been the subject of a number of recent analyst reports. BTIG Research initiated coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective for the company. Deutsche Bank Aktiengesellschaft dropped their price target on General Dynamics from $324.00 to $320.00 and set a “buy” rating on the stock in a research report on Thursday. Barclays upped their price target on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Citigroup upped their price target on General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and upped their price target for the company from $305.00 to $335.00 in a research report on Monday, April 29th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and a consensus price target of $311.33.

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.