Concentric Capital Strategies LP Buys 4,281 Shares of General Dynamics Corporation $GD

Concentric Capital Strategies LP increased its stake in General Dynamics Corporation (NYSE:GD) by 15.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,578 shares of the aerospace company’s stock after purchasing an additional 4,281 shares during the quarter. Concentric Capital Strategies LP’s holdings in General Dynamics were worth $10,968,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of GD. Joule Financial LLC increased its position in General Dynamics by 4.3% in the fourth quarter. Joule Financial LLC now owns 705 shares of the aerospace company’s stock worth $237,000 after buying an additional 29 shares during the last quarter. Brown Miller Wealth Management LLC lifted its position in shares of General Dynamics by 0.3% during 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 during the last quarter. First Financial Bankshares Inc grew its stake in shares of General Dynamics by 2.6% during the 3rd quarter. First Financial Bankshares Inc now owns 1,196 shares of the aerospace company’s stock worth $408,000 after acquiring an additional 30 shares during the period. Steph & Co. increased its holdings in General Dynamics by 65.2% in the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 30 shares during the last quarter. Finally, Revolve Wealth Partners LLC raised its stake 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 acquiring an additional 31 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GD. Wall Street Zen upgraded shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. BNP Paribas Exane dropped their price target on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating on the stock 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. Argus lifted their price objective on shares of General Dynamics from $380.00 to $395.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Finally, Weiss Ratings cut 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 given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $388.40.

General Dynamics Price Performance

NYSE:GD opened at $362.79 on Thursday. General Dynamics Corporation has a 52-week low of $275.49 and a 52-week high of $369.70. The stock has a fifty day moving average of $341.05 and a 200 day moving average of $347.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. The firm has a market capitalization of $98.11 billion, a price-to-earnings ratio of 22.83, a P/E/G ratio of 2.26 and a beta of 0.34.

General Dynamics (NYSE:GD) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The company’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $3.66 EPS. On average, research analysts expect that General Dynamics Corporation will post 16.62 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently announced 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 is Thursday, July 2nd. This represents a $6.36 annualized dividend and a yield of 1.8%. General Dynamics’s payout ratio is presently 40.03%.

Insider Buying and Selling

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the stock in a transaction on 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 owned 38,975 shares of the company’s stock, valued at $13,457,677.75. This represents a 48.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is currently owned by corporate insiders.

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.