Boyar Asset Management Inc. Raises Stake in General Dynamics Corporation $GD

Boyar Asset Management Inc. grew its stake in shares of General Dynamics Corporation (NYSE:GD) by 3.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,445 shares of the aerospace company’s stock after purchasing an additional 46 shares during the period. Boyar Asset Management Inc.’s holdings in General Dynamics were worth $421,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in GD. Inlight Wealth Management LLC acquired a new position in shares of General Dynamics during the 1st quarter worth $26,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of General Dynamics during the 1st quarter worth $27,000. Quarry LP raised its stake in shares of General Dynamics by 783.3% during the 1st quarter. Quarry LP now owns 106 shares of the aerospace company’s stock worth $29,000 after buying an additional 94 shares during the last quarter. Perkins Coie Trust Co raised its stake in shares of General Dynamics by 80.0% during the 1st quarter. Perkins Coie Trust Co now owns 117 shares of the aerospace company’s stock worth $32,000 after buying an additional 52 shares during the last quarter. Finally, Abound Financial LLC acquired a new position in shares of General Dynamics during the 1st quarter worth $32,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Trading Up 0.8%

Shares of GD stock opened at $343.76 on Friday. The firm has a 50-day moving average price of $321.91 and a 200 day moving average price of $294.12. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $345.22. The company has a market capitalization of $92.47 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 2.09 and a beta of 0.47. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The company had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. During the same quarter in the prior year, the company posted $3.26 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Research analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.7%. General Dynamics’s dividend payout ratio is currently 40.27%.

Insider Activity at General Dynamics

In other news, CEO Phebe N. Novakovic sold 129,090 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the completion of the transaction, the chief executive officer owned 769,607 shares of the company’s stock, valued at $241,325,666.99. This represents a 14.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP William A. Moss sold 17,700 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $316.40, for a total value of $5,600,280.00. Following the sale, the vice president owned 16,627 shares of the company’s stock, valued at $5,260,782.80. The trade was a 51.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 275,020 shares of company stock worth $86,414,503. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GD shares. Wolfe Research raised General Dynamics from a “peer perform” rating to an “outperform” rating and set a $360.00 price target for the company in a research note on Thursday, July 24th. Jefferies Financial Group set a $325.00 price target on General Dynamics and gave the stock a “hold” rating in a research note on Wednesday, July 9th. Susquehanna lifted their price target on General Dynamics from $315.00 to $365.00 and gave the stock a “positive” rating in a research note on Thursday, July 24th. Seaport Res Ptn raised General Dynamics from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. Finally, Deutsche Bank Aktiengesellschaft raised shares of General Dynamics from a “hold” rating to a “buy” rating and boosted their target price for the company from $298.00 to $342.00 in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, General Dynamics has a consensus rating of “Hold” and a consensus price target of $315.78.

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.