&PARTNERS Has $61.37 Million Stake in General Dynamics Corporation $GD

&PARTNERS grew its stake in General Dynamics Corporation (NYSE:GD) by 8.0% during the fourth quarter, Holdings Channel reports. The firm owned 182,338 shares of the aerospace company’s stock after purchasing an additional 13,458 shares during the period. &PARTNERS’s holdings in General Dynamics were worth $61,369,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GD. Vanguard Group Inc. grew its holdings in shares of General Dynamics by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock valued at $8,338,169,000 after acquiring an additional 528,769 shares in the last quarter. State Street Corp boosted its stake in General Dynamics by 2.7% in the fourth quarter. State Street Corp now owns 11,323,170 shares of the aerospace company’s stock valued at $3,812,058,000 after acquiring an additional 294,456 shares during the last quarter. Geode Capital Management LLC grew its position in shares of General Dynamics by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 6,065,462 shares of the aerospace company’s stock valued at $2,039,742,000 after acquiring an additional 195,604 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of General Dynamics by 2.2% in the 4th quarter. JPMorgan Chase & Co. now owns 5,307,389 shares of the aerospace company’s stock worth $1,786,786,000 after purchasing an additional 114,647 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in General Dynamics by 5.4% in the third quarter. Ameriprise Financial Inc. now owns 3,627,155 shares of the aerospace company’s stock valued at $1,236,900,000 after purchasing an additional 187,435 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GD shares. BNP Paribas Exane decreased their target price on General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a research report on Thursday, April 30th. Royal Bank Of Canada restated a “sector perform” rating and set a $385.00 price target on shares of General Dynamics in a research note on Thursday, April 30th. Morgan Stanley raised their price objective on shares of General Dynamics from $410.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. DA Davidson decreased their price objective on General Dynamics from $384.00 to $375.00 in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. raised their target price on General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Two 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $388.40.

Insider Activity

In related news, EVP Mark Lagrand Burns sold 36,480 shares of the firm’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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is owned by insiders.

General Dynamics Stock Up 1.4%

GD opened at $364.45 on Wednesday. The stock has a market cap of $98.56 billion, a PE ratio of 22.94, a P/E/G ratio of 2.23 and a beta of 0.34. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. General Dynamics Corporation has a 52 week low of $275.49 and a 52 week high of $369.70. The business’s fifty day simple moving average is $340.82 and its 200 day simple moving average is $346.95.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, beating the consensus estimate 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 net margin of 8.07% and a return on equity of 17.41%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.66 EPS. As a group, research analysts expect that General Dynamics Corporation will post 16.62 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.7%. General Dynamics’s payout ratio is presently 40.03%.

General Dynamics Company 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.