Wick Capital Partners LLC Invests $10.10 Million in General Dynamics Corporation $GD

Key Points

• Wick Capital Partners initiated a new position in General Dynamics during the fourth quarter, buying 30,004 shares worth about $10.1 million. The stake represents roughly 0.7% of the fund’s portfolio.
• General Dynamics reported strong quarterly results, with earnings of $4.10 per share and revenue of $13.48 billion, both beating analyst estimates. Revenue rose 10.3% year over year.
• The company also announced a quarterly dividend of $1.59 per share payable on August 7, while analysts currently rate the stock a Moderate Buy with a consensus price target of $388.40.

Wick Capital Partners LLC bought a new stake in General Dynamics Corporation (NYSE:GD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 30,004 shares of the aerospace company's stock, valued at approximately $10,101,000. General Dynamics makes up about 0.7% of Wick Capital Partners LLC's portfolio, making the stock its 23rd largest holding.

Several other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in General Dynamics by 16.9% in the 4th quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company's stock valued at $760,000 after purchasing an additional 417 shares in the last quarter. Acadian Asset Management LLC increased its position in General Dynamics by 140.2% during the 1st quarter. Acadian Asset Management LLC now owns 3,445 shares of the aerospace company's stock worth $938,000 after purchasing an additional 2,011 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of General Dynamics during the 2nd quarter worth approximately $240,000. Flow Traders U.S. LLC acquired a new stake in shares of General Dynamics in the 2nd quarter valued at approximately $352,000. Finally, Jump Financial LLC acquired a new stake in shares of General Dynamics in the 2nd quarter valued at approximately $1,284,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Dynamics

In related news, 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 transaction of $12,596,179.20. Following the transaction, the executive vice president owned 38,975 shares of the company's stock, valued at approximately $13,457,677.75. This represents a 48.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GD. Wall Street Zen raised General Dynamics from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 13th. Argus raised their target price on General Dynamics from $380.00 to $395.00 and gave the company a "buy" rating in a report on Thursday, February 19th. Citigroup decreased their target price on shares of General Dynamics from $380.00 to $364.00 and set a "neutral" rating on the stock in a research report on Monday, May 18th. Wells Fargo & Company initiated coverage on shares of General Dynamics in a research note on Wednesday, April 1st. They set an "overweight" rating and a $400.00 price target on the stock. Finally, Weiss Ratings downgraded shares of General Dynamics from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, May 19th. Two investment 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 data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $388.40.

General Dynamics Stock Down 3.4%

Shares of NYSE:GD opened at $350.39 on Friday. 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 company has a market capitalization of $94.76 billion, a P/E ratio of 22.05, a P/E/G ratio of 2.25 and a beta of 0.34. General Dynamics Corporation has a 52-week low of $275.49 and a 52-week high of $369.70. The stock's fifty day simple moving average is $341.10 and its 200-day simple moving average is $347.17.

General Dynamics (NYSE:GD - Get Free Report) last announced its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share 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 the consensus estimate of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.66 EPS. As a group, equities research analysts forecast that General Dynamics Corporation will post 16.62 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

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

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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