TritonPoint Partners LLC Purchases New Shares in General Dynamics Corporation $GD

TritonPoint Partners LLC purchased a new stake in shares of General Dynamics Corporation (NYSE:GD) during the 4th quarter, HoldingsChannel reports. The firm purchased 2,387 shares of the aerospace company’s stock, valued at approximately $804,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GD. AQR Capital Management LLC grew its position in General Dynamics by 118.3% during the third quarter. AQR Capital Management LLC now owns 1,663,847 shares of the aerospace company’s stock valued at $567,372,000 after buying an additional 901,679 shares during the period. Northern Trust Corp lifted its holdings in General Dynamics by 35.0% during the third quarter. Northern Trust Corp now owns 3,332,917 shares of the aerospace company’s stock valued at $1,136,525,000 after purchasing an additional 863,392 shares in the last quarter. Vanguard Group Inc. lifted its holdings in General Dynamics by 2.9% during the third quarter. Vanguard Group Inc. now owns 24,238,561 shares of the aerospace company’s stock valued at $8,265,349,000 after purchasing an additional 677,665 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in General Dynamics by 831.1% during the third quarter. Balyasny Asset Management L.P. now owns 737,259 shares of the aerospace company’s stock valued at $251,405,000 after purchasing an additional 658,081 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in General Dynamics by 6,680.8% during the fourth quarter. SG Americas Securities LLC now owns 591,488 shares of the aerospace company’s stock valued at $199,130,000 after purchasing an additional 582,765 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Performance

NYSE:GD opened at $359.92 on Monday. The company’s 50-day moving average price is $340.32 and its 200-day moving average price is $346.65. 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 company has a market cap of $97.33 billion, a P/E ratio of 22.65, a P/E/G ratio of 2.23 and a beta of 0.34. General Dynamics Corporation has a twelve month low of $275.49 and a twelve month high of $369.70.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.43. The firm had revenue of $13.48 billion for 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 company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $3.66 earnings per share. On average, sell-side analysts forecast that General Dynamics Corporation will post 16.62 earnings per share 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. Stockholders of record on Thursday, July 2nd will be paid a $1.59 dividend. This represents a $6.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics’s dividend payout ratio (DPR) is currently 40.03%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on GD shares. Citigroup decreased their price objective on shares of General Dynamics from $380.00 to $364.00 and set a “neutral” rating on the stock in a report on Monday, May 18th. DA Davidson decreased their price objective on shares of General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. BNP Paribas Exane decreased their price objective on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating on the stock in a report on Thursday, April 30th. Wells Fargo & Company started coverage on shares of General Dynamics in a report on Wednesday, April 1st. They set an “overweight” rating and a $400.00 price objective on the stock. Finally, Wall Street Zen raised shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $388.40.

Insider Buying and Selling at General Dynamics

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were 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 approximately $13,457,677.75. This trade represents a 48.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.40% of the company’s stock.

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.