Allspring Global Investments Holdings LLC Has $29.87 Million Position in General Dynamics Corporation $GD

Allspring Global Investments Holdings LLC raised its position in General Dynamics Corporation (NYSE:GD) by 36.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,223 shares of the aerospace company’s stock after buying an additional 22,539 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in General Dynamics were worth $29,873,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in General Dynamics by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock valued at $8,338,169,000 after purchasing an additional 528,769 shares in the last quarter. State Street Corp boosted its holdings in shares of General Dynamics by 2.7% in the 4th quarter. State Street Corp now owns 11,323,170 shares of the aerospace company’s stock valued at $3,812,058,000 after purchasing an additional 294,456 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of General Dynamics by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 6,065,462 shares of the aerospace company’s stock valued at $2,039,742,000 after purchasing an additional 195,604 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of General Dynamics by 2.2% in the 4th quarter. JPMorgan Chase & Co. now owns 5,307,389 shares of the aerospace company’s stock valued at $1,786,786,000 after purchasing an additional 114,647 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of General Dynamics by 3.3% during the 4th quarter. Northern Trust Corp now owns 3,443,453 shares of the aerospace company’s stock worth $1,159,273,000 after buying an additional 110,536 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

General Dynamics stock opened at $368.91 on Monday. The stock has a 50-day moving average price of $352.73 and a two-hundred day moving average price of $350.56. General Dynamics Corporation has a 12 month low of $293.95 and a 12 month high of $380.71. The company has a market capitalization of $99.76 billion, a PE ratio of 23.22, a P/E/G ratio of 2.22 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 (NYSE:GD) last released its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The company had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $12.70 billion. During the same period in the previous year, the business posted $3.66 earnings per share. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. Analysts expect that General Dynamics Corporation will post 16.64 EPS for the current year.

General Dynamics Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on General Dynamics from $385.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. UBS Group raised General Dynamics from a “neutral” rating to a “buy” rating in a research note on Thursday, June 11th. Wells Fargo & Company began coverage on shares of General Dynamics in a report on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 target price for the company. Bank of America raised their price target on shares of General Dynamics from $400.00 to $415.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $385.00 price objective on shares of General Dynamics in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $391.15.

Insiders Place Their Bets

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of General Dynamics stock in a transaction dated 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Malcolm sold 5,480 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total value of $2,000,200.00. Following the completion of the sale, the director owned 10,643 shares in the company, valued at $3,884,695. This trade represents a 33.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 78,190 shares of company stock worth $27,041,022. 1.40% of the stock is owned by company insiders.

About General Dynamics

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.