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

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

Several other large investors have also recently made changes to their positions in GD. Dunhill Financial LLC grew its holdings in shares of General Dynamics by 620.0% during the 3rd quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 62 shares during the last quarter. KERR FINANCIAL PLANNING Corp bought a new stake in General Dynamics in the third quarter worth $25,000. Dagco Inc. purchased a new stake in General Dynamics during the fourth quarter valued at about $25,000. Burkett Financial Services LLC grew its stake in shares of General Dynamics by 650.0% during the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock valued at $26,000 after buying an additional 65 shares during the last quarter. Finally, Steph & Co. increased its holdings in shares of General Dynamics by 65.2% in the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after buying an additional 30 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

Shares of GD opened at $362.79 on Thursday. General Dynamics Corporation has a one year low of $275.49 and a one year high of $369.70. The company has a 50-day simple moving average of $341.05 and a two-hundred day simple moving average of $347.11. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90. The firm has a market capitalization of $98.11 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 2.26 and a beta of 0.34.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $12.70 billion. During the same quarter in the prior year, the company earned $3.66 EPS. The business’s revenue was up 10.3% compared to the same quarter last year. On average, analysts anticipate that General Dynamics Corporation will post 16.62 EPS 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. Investors 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 is Thursday, July 2nd. General Dynamics’s dividend payout ratio (DPR) is presently 40.03%.

Insider Buying and Selling

In related news, EVP Mark Lagrand Burns sold 36,480 shares of the business’s stock in a transaction dated 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 sale, the executive vice president owned 38,975 shares of the company’s stock, valued at $13,457,677.75. The trade was a 48.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GD shares. Weiss Ratings cut General Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on General Dynamics from $387.00 to $377.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. Morgan Stanley lifted their target price on shares of General Dynamics from $410.00 to $435.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. upped their price target on shares of General Dynamics from $385.00 to $400.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, DA Davidson cut their price target on shares of General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $388.40.

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.