CIBC Asset Management Inc Acquires 24,676 Shares of General Dynamics Corporation $GD

CIBC Asset Management Inc increased its stake in shares of General Dynamics Corporation (NYSE:GD) by 33.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 99,079 shares of the aerospace company’s stock after acquiring an additional 24,676 shares during the period. CIBC Asset Management Inc’s holdings in General Dynamics were worth $33,341,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dunhill Financial LLC raised its holdings in General Dynamics by 620.0% during the third quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 62 shares in the last quarter. KERR FINANCIAL PLANNING Corp bought a new stake in General Dynamics during the third quarter worth about $25,000. Dagco Inc. bought a new stake in General Dynamics during the fourth quarter worth about $25,000. Burkett Financial Services LLC raised its holdings in General Dynamics by 650.0% during the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 65 shares in the last quarter. Finally, Steph & Co. raised its holdings in General Dynamics by 65.2% during the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 30 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Activity

In other news, EVP Marguerite Amy Gilliland sold 3,819 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $353.50, for a total value of $1,350,016.50. Following the transaction, the executive vice president owned 44,767 shares of the company’s stock, valued at approximately $15,825,134.50. This represents a 7.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Lagrand Burns sold 36,480 shares of the company’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 value of $12,596,179.20. Following the completion of the transaction, the executive vice president directly owned 38,975 shares in the company, valued at $13,457,677.75. The trade was a 48.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 119,600 shares of company stock valued at $41,650,580. 1.40% of the stock is owned by insiders.

General Dynamics Price Performance

Shares of NYSE GD opened at $337.66 on Thursday. The business’s 50 day moving average price is $340.31 and its two-hundred day moving average price is $346.32. The company has a market cap of $91.31 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 2.09 and a beta of 0.34. 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 Corporation has a twelve month low of $268.10 and a twelve month high of $369.70.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.43. The firm had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The business’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.66 earnings per share. On average, analysts predict that General Dynamics Corporation will post 16.62 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on GD. Wall Street Zen lowered General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 23rd. DA Davidson dropped their target price on General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Morgan Stanley upped their target price on General Dynamics from $410.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Citigroup lowered their price target on General Dynamics from $380.00 to $364.00 and set a “neutral” rating on the stock in a research report on Monday, May 18th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $385.00 price target on shares of General Dynamics in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $387.40.

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.