Entropy Technologies LP decreased its holdings in shares of General Dynamics Corporation (NYSE:GD – Free Report) by 39.1% during the fourth quarter, HoldingsChannel reports. The fund owned 7,334 shares of the aerospace company’s stock after selling 4,716 shares during the quarter. Entropy Technologies LP’s holdings in General Dynamics were worth $2,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently made changes to their positions in GD. AQR Capital Management LLC grew its position in shares of General Dynamics by 118.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,663,847 shares of the aerospace company’s stock valued at $567,372,000 after purchasing an additional 901,679 shares in the last quarter. Northern Trust Corp grew its position in shares of General Dynamics by 35.0% during the 3rd 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. grew its position in shares of General Dynamics by 2.9% during the 3rd 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. grew its position in shares of General Dynamics by 831.1% during the 3rd 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 grew its position in shares of General Dynamics by 6,680.8% during the 4th 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. 86.14% of the stock is currently owned by hedge funds and other institutional investors.
General Dynamics Stock Down 0.3%
Shares of NYSE:GD opened at $359.08 on Tuesday. General Dynamics Corporation has a 52-week low of $275.49 and a 52-week high of $369.70. The firm has a fifty day moving average of $340.51 and a 200 day moving average of $346.78. The firm has a market capitalization of $97.11 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 2.23 and a beta of 0.34. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38.
General Dynamics Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be given a $1.59 dividend. 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 40.03%.
Insider Transactions at General Dynamics
In related news, EVP Mark Lagrand Burns sold 36,480 shares of the company’s 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 completion of the transaction, the executive vice president directly owned 38,975 shares in the company, valued at approximately $13,457,677.75. The trade was a 48.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.
Wall Street Analysts Forecast Growth
GD has been the subject of a number of recent analyst reports. Weiss Ratings lowered shares of General Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 19th. DA Davidson reduced their price target on shares of General Dynamics from $384.00 to $375.00 in a research report on Thursday, April 30th. Morgan Stanley boosted their price target on shares of General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. UBS Group upgraded shares of General Dynamics from a “neutral” rating to a “buy” rating in a research report on Thursday. Finally, Citigroup reduced their price target on shares of General Dynamics from $380.00 to $364.00 and set a “neutral” rating for the company in a research report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $388.40.
Get Our Latest Research Report on General Dynamics
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.
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