General Dynamics Corporation $GD Shares Sold by CenterBook Partners LP

Key Points

• CenterBook Partners LP cut its General Dynamics stake by 49.2% in the fourth quarter, selling 7,433 shares and leaving it with 7,672 shares valued at about $2.58 million.
• General Dynamics reported better-than-expected quarterly results, with EPS of $4.10 versus $3.67 expected and revenue of $13.48 billion versus $12.70 billion expected. Revenue also rose 10.3% year over year.
• The company announced a quarterly dividend of $1.59 per share, payable August 7, implying an annualized dividend of $6.36 and a yield of 1.8%.

CenterBook Partners LP decreased its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 49.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,672 shares of the aerospace company's stock after selling 7,433 shares during the quarter. CenterBook Partners LP's holdings in General Dynamics were worth $2,583,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in General Dynamics by 16.9% in the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company's stock worth $760,000 after purchasing an additional 417 shares during the period. Acadian Asset Management LLC raised its stake in shares of General Dynamics by 140.2% in the 1st quarter. Acadian Asset Management LLC now owns 3,445 shares of the aerospace company's stock worth $938,000 after buying an additional 2,011 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of General Dynamics during the 2nd quarter valued at about $240,000. Flow Traders U.S. LLC acquired a new stake in shares of General Dynamics during the 2nd quarter valued at $352,000. Finally, Jump Financial LLC acquired a new stake in shares of General Dynamics during the second quarter worth $1,284,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Performance

NYSE:GD opened at $345.81 on Wednesday. General Dynamics Corporation has a 52-week low of $268.10 and a 52-week high of $369.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. The company has a market cap of $93.52 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 2.11 and a beta of 0.34. The firm's 50-day moving average is $339.79 and its 200-day moving average is $346.35.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.67 by $0.43. The business had revenue of $13.48 billion for the quarter, compared to analysts' expectations of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.General Dynamics's quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.66 earnings per share. Equities research analysts anticipate that General Dynamics Corporation will post 16.62 earnings per share for the current year.

General Dynamics Announces Dividend

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

Insider Activity

In related news, 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 transaction of $12,596,179.20. Following the completion of the transaction, the executive vice president directly owned 38,975 shares of the company's stock, valued at $13,457,677.75. This trade represents a 48.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.40% of the stock is owned by company insiders.

Analyst Ratings Changes

GD has been the subject of several research analyst reports. Wells Fargo & Company began coverage on shares of General Dynamics in a research report on Wednesday, April 1st. They issued an "overweight" rating and a $400.00 price target for the company. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $385.00 target price on shares of General Dynamics in a research report on Thursday, April 30th. Jefferies Financial Group reduced their price objective on General Dynamics from $385.00 to $380.00 and set a "hold" rating for the company in a research report on Tuesday, April 7th. DA Davidson lowered their price target on General Dynamics from $384.00 to $375.00 in a research note on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Dynamics from $387.00 to $377.00 and set a "hold" rating on the stock in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $387.40.

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.

Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Corporation (NYSE:GD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.