Graham Capital Management L.P. Acquires 3,802 Shares of General Dynamics Corporation $GD

Graham Capital Management L.P. raised its holdings in General Dynamics Corporation (NYSE:GD) by 29.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,802 shares of the aerospace company’s stock after buying an additional 3,802 shares during the period. Graham Capital Management L.P.’s holdings in General Dynamics were worth $5,657,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Berkshire Asset Management LLC PA raised its holdings in shares of General Dynamics by 12.9% in the fourth quarter. Berkshire Asset Management LLC PA now owns 1,683 shares of the aerospace company’s stock valued at $566,000 after purchasing an additional 192 shares during the last quarter. Rothschild Wealth LLC raised its holdings in shares of General Dynamics by 180.0% in the fourth quarter. Rothschild Wealth LLC now owns 2,047 shares of the aerospace company’s stock valued at $689,000 after purchasing an additional 1,316 shares during the last quarter. Rakuten Investment Management Inc. raised its holdings in shares of General Dynamics by 259.4% in the fourth quarter. Rakuten Investment Management Inc. now owns 32,298 shares of the aerospace company’s stock valued at $10,997,000 after purchasing an additional 23,312 shares during the last quarter. Abound Financial LLC purchased a new stake in shares of General Dynamics in the fourth quarter valued at about $39,000. Finally, 71 West Capital Partners purchased a new stake in shares of General Dynamics in the fourth quarter valued at about $259,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GD shares. Argus increased their target price on shares of General Dynamics from $380.00 to $395.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Citigroup lowered their target price on shares of General Dynamics from $380.00 to $364.00 and set a “neutral” rating for the company in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Dynamics from $387.00 to $377.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. 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. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $385.00 price objective on shares of General Dynamics in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $388.40.

General Dynamics Stock Performance

NYSE GD opened at $364.45 on Wednesday. General Dynamics Corporation has a 52-week low of $275.49 and a 52-week high of $369.70. The company has a 50-day simple moving average of $340.82 and a 200 day simple moving average of $346.95. 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 company has a market capitalization of $98.56 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 2.23 and a beta of 0.34.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The business had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $12.70 billion. During the same quarter last year, the company posted $3.66 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, research analysts predict that General Dynamics Corporation will post 16.62 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 annualized dividend and a dividend yield of 1.7%. General Dynamics’s dividend payout ratio (DPR) is presently 40.03%.

Insider Buying and Selling at General Dynamics

In other news, EVP Mark Lagrand Burns sold 36,480 shares of General Dynamics 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 completion of the transaction, the executive vice president owned 38,975 shares in the company, 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 at the SEC website. 1.40% of the stock is owned by insiders.

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.