Arrowstreet Capital Limited Partnership Raises Holdings in General Dynamics Corporation $GD

Key Points

• Arrowstreet Capital increased its General Dynamics stake by 18.3% in the fourth quarter, adding 59,967 shares and bringing its total to 387,405 shares worth about $130.4 million.
• General Dynamics reported strong quarterly results, posting EPS of $4.10 versus estimates of $3.67 and revenue of $13.48 billion versus expectations of $12.70 billion, with revenue up 10.3% year over year.
• The company also announced a quarterly dividend of $1.59 per share, payable August 7, for an annualized yield of about 1.8%.

Arrowstreet Capital Limited Partnership lifted its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 18.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 387,405 shares of the aerospace company's stock after purchasing an additional 59,967 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.14% of General Dynamics worth $130,424,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Dunhill Financial LLC increased its holdings in shares of General Dynamics by 620.0% in the third quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company's stock valued at $25,000 after purchasing an additional 62 shares during the period. KERR FINANCIAL PLANNING Corp purchased a new position in shares of General Dynamics during the third quarter worth $25,000. Dagco Inc. acquired a new position in General Dynamics during the fourth quarter valued at $25,000. Burkett Financial Services LLC boosted its holdings in General Dynamics by 650.0% in the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company's stock valued at $26,000 after purchasing an additional 65 shares during the last quarter. Finally, Steph & Co. boosted its holdings in General Dynamics by 65.2% in the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company's stock valued at $26,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

Insider Activity at General Dynamics

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $13,457,677.75. The trade was a 48.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GD. DA Davidson decreased their price objective on General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Jefferies Financial Group upgraded General Dynamics from a "hold" rating to a "buy" rating and lifted their price target for the company from $380.00 to $400.00 in a research report on Thursday. Weiss Ratings lowered General Dynamics from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, May 19th. Morgan Stanley lifted their target price on shares of General Dynamics from $410.00 to $435.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of General Dynamics from $385.00 to $400.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Two 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 issued a Sell rating to the company's stock. According to MarketBeat, General Dynamics has a consensus rating of "Moderate Buy" and a consensus price target of $388.40.

General Dynamics Stock Performance

NYSE GD opened at $359.08 on Tuesday. 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 Corporation has a twelve month low of $275.49 and a twelve month high of $369.70. The stock has a 50-day moving average of $340.51 and a 200 day moving average of $346.78. The stock has a market capitalization of $97.11 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 2.23 and a beta of 0.34.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $12.70 billion. During the same period in the previous year, the business earned $3.66 earnings per share. The business's revenue was up 10.3% compared to the same quarter last year. Sell-side analysts anticipate that General Dynamics Corporation will post 16.62 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 2nd will be given a $1.59 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 annualized dividend and a dividend yield of 1.8%. General Dynamics's dividend payout ratio (DPR) is 40.03%.

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.

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