Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Has $6.24 Million Stake in General Dynamics Co. (GD)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in General Dynamics Co. (NYSE:GD) by 5.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,842 shares of the aerospace company’s stock after purchasing an additional 2,032 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in General Dynamics were worth $6,237,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Arrow Financial Corp lifted its holdings in shares of General Dynamics by 1.2% during the 1st quarter. Arrow Financial Corp now owns 6,741 shares of the aerospace company’s stock worth $1,141,000 after acquiring an additional 80 shares during the last quarter. World Asset Management Inc lifted its holdings in shares of General Dynamics by 8.2% during the 1st quarter. World Asset Management Inc now owns 19,862 shares of the aerospace company’s stock worth $3,362,000 after acquiring an additional 1,504 shares during the last quarter. NewFocus Financial Group LLC lifted its holdings in shares of General Dynamics by 3.3% during the 1st quarter. NewFocus Financial Group LLC now owns 10,562 shares of the aerospace company’s stock worth $1,788,000 after acquiring an additional 333 shares during the last quarter. Brightworth lifted its holdings in shares of General Dynamics by 1.2% during the 1st quarter. Brightworth now owns 29,199 shares of the aerospace company’s stock worth $4,943,000 after acquiring an additional 351 shares during the last quarter. Finally, Private Capital Group LLC lifted its holdings in shares of General Dynamics by 13.4% during the 1st quarter. Private Capital Group LLC now owns 1,764 shares of the aerospace company’s stock worth $299,000 after acquiring an additional 209 shares during the last quarter. 86.41% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on the stock. UBS Group lifted their target price on shares of General Dynamics from $175.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $196.00 target price on the stock in a research report on Tuesday, May 7th. Cowen reiterated a “buy” rating and issued a $202.00 target price on shares of General Dynamics in a research report on Wednesday, April 24th. Sanford C. Bernstein decreased their target price on shares of General Dynamics from $186.00 to $178.00 and set a “market perform” rating on the stock in a research report on Monday, February 4th. Finally, JPMorgan Chase & Co. upgraded shares of General Dynamics from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $188.00 to $200.00 in a research report on Thursday, April 25th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $198.16.

Shares of GD stock traded down $2.17 during mid-day trading on Wednesday, reaching $169.28. The stock had a trading volume of 916,570 shares, compared to its average volume of 1,369,919. General Dynamics Co. has a 52-week low of $143.87 and a 52-week high of $208.88. The stock has a market capitalization of $48.06 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 1.59 and a beta of 1.13. The company has a current ratio of 1.23, a quick ratio of 0.82 and a debt-to-equity ratio of 0.94.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.18. General Dynamics had a net margin of 8.68% and a return on equity of 27.62%. The firm had revenue of $9.26 billion for the quarter, compared to analysts’ expectations of $8.90 billion. During the same quarter in the previous year, the company earned $2.65 earnings per share. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. Equities analysts predict that General Dynamics Co. will post 11.74 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 12th were given a $1.02 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $0.93. The ex-dividend date was Thursday, April 11th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.41%. General Dynamics’s payout ratio is presently 35.73%.

In other news, VP Gary L. Whited sold 14,640 shares of General Dynamics stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $165.38, for a total transaction of $2,421,163.20. Following the sale, the vice president now owns 30,462 shares of the company’s stock, valued at approximately $5,037,805.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lester L. Lyles sold 4,580 shares of General Dynamics stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $172.42, for a total transaction of $789,683.60. Following the sale, the director now directly owns 12,314 shares in the company, valued at approximately $2,123,179.88. The disclosure for this sale can be found here. Insiders sold 64,690 shares of company stock worth $11,052,603 in the last 90 days. Corporate insiders own 7.10% of the company’s stock.

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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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