TritonPoint Partners LLC Buys New Stake in General Dynamics Corporation $GD

TritonPoint Partners LLC bought a new stake in shares of General Dynamics Corporation (NYSE:GD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,387 shares of the aerospace company’s stock, valued at approximately $804,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Zinnia Wealth Advisory LLC purchased a new stake in General Dynamics during the fourth quarter valued at approximately $410,000. Vanguard Personalized Indexing Management LLC lifted its position in General Dynamics by 1.3% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 39,542 shares of the aerospace company’s stock valued at $13,312,000 after acquiring an additional 519 shares during the last quarter. Venture Visionary Partners LLC increased its stake in General Dynamics by 2.1% during the 4th quarter. Venture Visionary Partners LLC now owns 1,929 shares of the aerospace company’s stock valued at $650,000 after purchasing an additional 39 shares in the last quarter. Panagora Asset Management Inc. increased its stake in General Dynamics by 73.0% during the 4th quarter. Panagora Asset Management Inc. now owns 531,693 shares of the aerospace company’s stock valued at $179,000,000 after purchasing an additional 224,342 shares in the last quarter. Finally, PYA Waltman Capital LLC increased its stake in General Dynamics by 2.0% during the 4th quarter. PYA Waltman Capital LLC now owns 9,295 shares of the aerospace company’s stock valued at $3,129,000 after purchasing an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on GD. The Goldman Sachs Group cut their price target on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a research note on Monday, May 4th. DA Davidson cut their price target on shares of General Dynamics from $384.00 to $375.00 in a research note on Thursday, April 30th. Morgan Stanley upped their price target on shares of General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Wells Fargo & Company began coverage on shares of General Dynamics in a research note on Wednesday, April 1st. They set an “overweight” rating and a $400.00 price target on the stock. Finally, BNP Paribas Exane cut 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. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $388.40.

General Dynamics Stock Down 0.1%

NYSE:GD opened at $359.92 on Monday. The firm has a market capitalization of $97.33 billion, a P/E ratio of 22.65, a PEG ratio of 2.23 and a beta of 0.34. General Dynamics Corporation has a 1-year low of $275.49 and a 1-year high of $369.70. The company’s fifty day moving average price is $340.32 and its 200-day moving average price is $346.65. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.43. The firm 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 business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.66 earnings per share. As a group, equities research analysts anticipate that General Dynamics Corporation will post 16.62 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.8%. General Dynamics’s dividend payout ratio is presently 40.03%.

Insider Buying and Selling

In related news, EVP Mark Lagrand Burns sold 36,480 shares of the firm’s stock in a transaction on 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 in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

About General Dynamics

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.