CenterBook Partners LP Increases Holdings in General Dynamics Co. (NYSE:GD)

CenterBook Partners LP boosted its position in General Dynamics Co. (NYSE:GD - Free Report) by 136.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,526 shares of the aerospace company's stock after acquiring an additional 2,032 shares during the period. CenterBook Partners LP's holdings in General Dynamics were worth $929,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Purus Wealth Management LLC increased its stake in shares of General Dynamics by 1.5% during the fourth quarter. Purus Wealth Management LLC now owns 2,660 shares of the aerospace company's stock valued at $701,000 after buying an additional 39 shares during the period. Armstrong Advisory Group Inc. increased its position in General Dynamics by 4.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 1,051 shares of the aerospace company's stock valued at $277,000 after purchasing an additional 40 shares during the period. Austin Wealth Management LLC raised its holdings in General Dynamics by 5.4% in the 4th quarter. Austin Wealth Management LLC now owns 826 shares of the aerospace company's stock worth $220,000 after purchasing an additional 42 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in shares of General Dynamics by 35.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 163 shares of the aerospace company's stock worth $43,000 after purchasing an additional 43 shares during the period. Finally, Stokes Family Office LLC boosted its stake in shares of General Dynamics by 0.4% during the 4th quarter. Stokes Family Office LLC now owns 10,279 shares of the aerospace company's stock valued at $2,708,000 after purchasing an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

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General Dynamics Stock Down 0.6 %

Shares of GD stock traded down $1.60 during mid-day trading on Tuesday, hitting $277.18. The company's stock had a trading volume of 1,544,731 shares, compared to its average volume of 1,351,236. General Dynamics Co. has a 52-week low of $239.20 and a 52-week high of $316.90. The business has a 50-day moving average price of $259.89 and a 200 day moving average price of $273.43. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The stock has a market cap of $74.39 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 1.69 and a beta of 0.43.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing analysts' consensus estimates of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. Research analysts predict that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be paid a $1.50 dividend. This is an increase from General Dynamics's previous quarterly dividend of $1.42. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Friday, April 11th. General Dynamics's dividend payout ratio (DPR) is 43.99%.

Analyst Upgrades and Downgrades

GD has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Dynamics from $303.00 to $295.00 and set a "hold" rating for the company in a report on Thursday, January 2nd. Robert W. Baird restated a "neutral" rating and set a $283.00 price target (down from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. BTIG Research downgraded General Dynamics from a "buy" rating to a "neutral" rating in a report on Thursday, February 13th. TD Cowen dropped their target price on shares of General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. Finally, Wells Fargo & Company decreased their price target on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, General Dynamics currently has an average rating of "Hold" and an average target price of $296.82.

Insider Buying and Selling

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the sale, the director now directly owns 11,175 shares of the company's stock, valued at approximately $2,857,224. This represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction on Monday, March 10th. The stock was sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the transaction, the senior vice president now owns 45,192 shares in the company, valued at $12,297,195.12. This represents a 37.88 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by corporate insiders.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.