SEB Asset Management AB Invests $6.74 Million in General Dynamics Corporation $GD

SEB Asset Management AB purchased a new stake in General Dynamics Corporation (NYSE:GD) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 19,625 shares of the aerospace company’s stock, valued at approximately $6,736,000.

A number of other hedge funds have also modified their holdings of the company. Joule Financial LLC grew its holdings in General Dynamics by 4.3% during the fourth quarter. Joule Financial LLC now owns 705 shares of the aerospace company’s stock valued at $237,000 after purchasing an additional 29 shares during the period. Brown Miller Wealth Management LLC raised its holdings in General Dynamics by 0.3% in the fourth quarter. Brown Miller Wealth Management LLC now owns 8,889 shares of the aerospace company’s stock worth $2,993,000 after purchasing an additional 29 shares during the period. Steph & Co. raised its holdings in 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 purchasing an additional 30 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of General Dynamics by 3.3% during the fourth quarter. Revolve Wealth Partners LLC now owns 978 shares of the aerospace company’s stock worth $329,000 after purchasing an additional 31 shares in the last quarter. Finally, New Wave Wealth Advisors LLC boosted its position in shares of General Dynamics by 4.4% during the fourth quarter. New Wave Wealth Advisors LLC now owns 733 shares of the aerospace company’s stock worth $247,000 after purchasing an additional 31 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Price Performance

Shares of GD opened at $367.40 on Wednesday. The stock has a market capitalization of $99.36 billion, a P/E ratio of 23.12, a P/E/G ratio of 2.23 and a beta of 0.34. General Dynamics Corporation has a twelve month low of $293.95 and a twelve month high of $380.71. The company has a 50 day moving average of $353.69 and a 200-day moving average of $351.00. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The business had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. During the same quarter in the previous year, the firm posted $3.66 earnings per share. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, equities research analysts forecast that General Dynamics Corporation will post 16.64 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm 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 payout ratio is presently 40.03%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Weiss Ratings upgraded shares of General Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 1st. Jefferies Financial Group boosted their target price on General Dynamics from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Wells Fargo & Company initiated coverage on General Dynamics in a report on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 price target for the company. Bank of America raised their price target on General Dynamics from $400.00 to $415.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Finally, The Goldman Sachs Group cut their price objective on General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $391.15.

Insider Activity

In other news, Director Mark Malcolm sold 5,480 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total value of $2,000,200.00. Following the completion of the transaction, the director owned 10,643 shares in the company, valued at $3,884,695. This trade represents a 33.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Lagrand Burns sold 36,480 shares of General Dynamics stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total value of $12,596,179.20. Following the completion of the sale, the executive vice president directly owned 38,975 shares in the company, valued at approximately $13,457,677.75. This represents a 48.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 78,190 shares of company stock worth $27,041,022 over the last three months. Insiders own 1.40% of the company’s stock.

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.