Gallacher Capital Management LLC Invests $790,000 in General Dynamics Corporation $GD

Gallacher Capital Management LLC acquired a new stake in General Dynamics Corporation (NYSE:GD) in the 1st quarter, HoldingsChannel reports. The fund acquired 2,302 shares of the aerospace company’s stock, valued at approximately $790,000.

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in General Dynamics by 118.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,663,847 shares of the aerospace company’s stock worth $567,372,000 after buying an additional 901,679 shares in the last quarter. Northern Trust Corp grew its stake in shares of General Dynamics by 35.0% in the third quarter. Northern Trust Corp now owns 3,332,917 shares of the aerospace company’s stock worth $1,136,525,000 after acquiring an additional 863,392 shares in the last quarter. Balyasny Asset Management L.P. increased its position in shares of General Dynamics by 831.1% during the third quarter. Balyasny Asset Management L.P. now owns 737,259 shares of the aerospace company’s stock worth $251,405,000 after acquiring an additional 658,081 shares during the period. SG Americas Securities LLC increased its position in shares of General Dynamics by 6,680.8% during the fourth quarter. SG Americas Securities LLC now owns 591,488 shares of the aerospace company’s stock worth $199,130,000 after acquiring an additional 582,765 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of General Dynamics by 2.2% in 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 acquiring an additional 528,769 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Trading Up 0.9%

NYSE:GD opened at $368.86 on Friday. The stock has a 50-day simple moving average of $352.28 and a 200-day simple moving average of $350.36. The stock has a market cap of $99.75 billion, a P/E ratio of 23.21, a P/E/G ratio of 2.20 and a beta of 0.34. General Dynamics Corporation has a 1 year low of $293.95 and a 1 year high of $380.71. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38.

General Dynamics (NYSE:GD) last issued its 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 business had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. During the same quarter last year, the company earned $3.66 EPS. The business’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, analysts anticipate that General Dynamics Corporation will post 16.64 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be paid a $1.59 dividend. This represents a $6.36 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, July 2nd. General Dynamics’s dividend payout ratio is currently 40.03%.

Insider Buying and Selling

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president owned 38,975 shares in the company, 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 on Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the completion of the transaction, the director owned 10,643 shares of the company’s stock, valued at approximately $3,884,695. The trade was a 33.99% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 78,190 shares of company stock worth $27,041,022. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wall Street Zen raised General Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Deutsche Bank Aktiengesellschaft reduced their price target on General Dynamics from $387.00 to $377.00 and set a “hold” rating on the stock in a research report on Wednesday, May 6th. Jefferies Financial Group boosted their price objective on General Dynamics from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. The Goldman Sachs Group cut their target price on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a research note on Monday, May 4th. Finally, Bank of America raised their target price on shares of General Dynamics from $400.00 to $415.00 and gave the company a “buy” rating in a report on Monday, July 6th. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $391.15.

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.