O Shaughnessy Asset Management LLC Buys 3,312 Shares of General Dynamics Corporation $GD

Key Points

• O Shaughnessy Asset Management increased its stake in General Dynamics by 4.1% in the fourth quarter, buying 3,312 shares and bringing its total holding to 85,063 shares worth about $28.6 million.
• General Dynamics reported strong quarterly results, with EPS of $4.10 topping estimates and revenue of $13.48 billion, up 10.3% year over year.
• The company also declared a quarterly dividend of $1.59 per share, payable August 7, while analysts currently have a consensus rating of “Moderate Buy” with a price target of $387.40.

O Shaughnessy Asset Management LLC lifted its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,063 shares of the aerospace company's stock after purchasing an additional 3,312 shares during the period. O Shaughnessy Asset Management LLC's holdings in General Dynamics were worth $28,637,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in GD. Joule Financial LLC grew its holdings in General Dynamics by 4.3% in the 4th quarter. Joule Financial LLC now owns 705 shares of the aerospace company's stock valued at $237,000 after buying an additional 29 shares in the last quarter. Brown Miller Wealth Management LLC grew its holdings in General Dynamics by 0.3% in the 4th quarter. Brown Miller Wealth Management LLC now owns 8,889 shares of the aerospace company's stock valued at $2,993,000 after buying an additional 29 shares in the last quarter. First Financial Bankshares Inc grew its holdings in General Dynamics by 2.6% in the 3rd quarter. First Financial Bankshares Inc now owns 1,196 shares of the aerospace company's stock valued at $408,000 after buying an additional 30 shares in the last quarter. Steph & Co. grew its holdings in General Dynamics by 65.2% in the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company's stock valued at $26,000 after buying an additional 30 shares in the last quarter. Finally, Revolve Wealth Partners LLC grew its holdings in General Dynamics by 3.3% in the 4th quarter. Revolve Wealth Partners LLC now owns 978 shares of the aerospace company's stock valued at $329,000 after buying an additional 31 shares in the last quarter. Institutional investors own 86.14% of the company's stock.

General Dynamics Stock Performance

NYSE:GD opened at $340.85 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $92.18 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 2.15 and a beta of 0.34. General Dynamics Corporation has a twelve month low of $268.10 and a twelve month high of $369.70. The stock's 50-day simple moving average is $339.81 and its 200 day simple moving average is $346.33.

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

General Dynamics Announces Dividend

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 issued a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Thursday, July 2nd. General Dynamics's dividend payout ratio (DPR) is presently 40.03%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Jefferies Financial Group reduced their target price on General Dynamics from $385.00 to $380.00 and set a "hold" rating on the stock in a report on Tuesday, April 7th. Wells Fargo & Company assumed coverage on General Dynamics in a report on Wednesday, April 1st. They set an "overweight" rating and a $400.00 target price on the stock. UBS Group reduced their target price on General Dynamics from $385.00 to $371.00 and set a "neutral" rating on the stock in a report on Thursday, April 30th. The Goldman Sachs Group reduced their target price on General Dynamics from $327.00 to $313.00 and set a "sell" rating on the stock in a report on Monday, May 4th. Finally, BNP Paribas Exane reduced their target price on General Dynamics from $430.00 to $390.00 and set an "outperform" rating on the stock in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $387.40.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 32,918 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $354.09, for a total transaction of $11,655,934.62. Following the completion of the sale, the chief executive officer directly owned 766,457 shares in the company, valued at approximately $271,394,759.13. This trade represents a 4.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Marguerite Amy Gilliland sold 3,819 shares of the stock in a transaction dated 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 sale, the executive vice president owned 44,767 shares of the company's stock, valued at approximately $15,825,134.50. The trade was a 7.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 119,600 shares of company stock worth $41,650,580. Company insiders own 1.40% of the company's stock.

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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