&PARTNERS Buys 13,458 Shares of General Dynamics Corporation $GD

Key Points

• &PARTNERS increased its stake in General Dynamics by 8.0% in the fourth quarter, buying 13,458 shares and bringing its total holding to 182,338 shares worth about $61.4 million.
• General Dynamics reported better-than-expected Q1 earnings, with EPS of $4.10 versus estimates of $3.67 and revenue of $13.48 billion, up 10.3% year over year.
• The company also announced a quarterly dividend of $1.59 per share, or $6.36 annually, which implies a yield of about 1.7%.

&PARTNERS increased its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 8.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 182,338 shares of the aerospace company's stock after buying an additional 13,458 shares during the quarter. &PARTNERS owned approximately 0.07% of General Dynamics worth $61,369,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GD. ExodusPoint Capital Management LP boosted its holdings in shares of General Dynamics by 238.9% during the 4th quarter. ExodusPoint Capital Management LP now owns 93,662 shares of the aerospace company's stock worth $31,532,000 after buying an additional 66,028 shares during the period. Graham Capital Management L.P. grew its holdings in shares of General Dynamics by 29.2% during the 4th quarter. Graham Capital Management L.P. now owns 16,802 shares of the aerospace company's stock worth $5,657,000 after purchasing an additional 3,802 shares in the last quarter. Berkshire Asset Management LLC PA lifted its position in General Dynamics by 12.9% during the fourth quarter. Berkshire Asset Management LLC PA now owns 1,683 shares of the aerospace company's stock worth $566,000 after purchasing an additional 192 shares during the period. Rothschild Wealth LLC grew its stake in General Dynamics by 180.0% during the fourth quarter. Rothschild Wealth LLC now owns 2,047 shares of the aerospace company's stock worth $689,000 after buying an additional 1,316 shares in the last quarter. Finally, Rakuten Investment Management Inc. increased its holdings in General Dynamics by 259.4% in the 4th quarter. Rakuten Investment Management Inc. now owns 32,298 shares of the aerospace company's stock valued at $10,997,000 after buying an additional 23,312 shares during the period. 86.14% of the stock is owned by institutional investors.

General Dynamics Trading Up 1.4%

Shares of GD stock opened at $364.45 on Wednesday. General Dynamics Corporation has a 1-year low of $275.49 and a 1-year high of $369.70. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The stock has a market cap of $98.56 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 2.23 and a beta of 0.34. The stock has a 50-day moving average of $340.82 and a 200-day moving average of $346.95.

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, topping analysts' consensus estimates of $3.67 by $0.43. The company had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The firm's quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.66 earnings per share. On average, equities research analysts forecast that General Dynamics Corporation will post 16.62 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be given 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 yield of 1.7%. General Dynamics's dividend payout ratio is 40.03%.

Insider Buying and Selling

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the business's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total value of $12,596,179.20. Following the transaction, the executive vice president directly owned 38,975 shares of the company's stock, valued at $13,457,677.75. The trade was a 48.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.40% of the company's stock.

Analyst Ratings Changes

GD has been the subject of several analyst reports. Citigroup dropped their target price on shares of General Dynamics from $380.00 to $364.00 and set a "neutral" rating for the company in a research report on Monday, May 18th. The Goldman Sachs Group lowered their target price on General Dynamics from $327.00 to $313.00 and set a "sell" rating for the company in a research note on Monday, May 4th. Wall Street Zen upgraded shares of General Dynamics from a "buy" rating to a "strong-buy" rating in a research report on Saturday. JPMorgan Chase & Co. upped their price target on shares of General Dynamics from $385.00 to $400.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Finally, BNP Paribas Exane reduced their price objective on General Dynamics from $430.00 to $390.00 and set an "outperform" rating on the stock in a research report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $388.40.

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.

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