General Dynamics Corporation $GD Position Lifted by Private Wealth Asset Management LLC

Private Wealth Asset Management LLC raised its stake in shares of General Dynamics Corporation (NYSE:GD) by 8.0% during the second quarter, HoldingsChannel reports. The fund owned 3,194 shares of the aerospace company’s stock after acquiring an additional 237 shares during the quarter. Private Wealth Asset Management LLC’s holdings in General Dynamics were worth $931,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Mitchell Mcleod Pugh & Williams Inc. boosted its holdings in shares of General Dynamics by 1.0% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,986 shares of the aerospace company’s stock valued at $1,162,000 after buying an additional 39 shares during the period. J.Safra Asset Management Corp acquired a new stake in shares of General Dynamics in the 2nd quarter worth about $273,000. Bayforest Capital Ltd acquired a new stake in shares of General Dynamics in the 2nd quarter worth about $246,000. Sagespring Wealth Partners LLC increased its holdings in shares of General Dynamics by 24.0% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 4,612 shares of the aerospace company’s stock worth $1,345,000 after acquiring an additional 893 shares during the period. Finally, TD Asset Management Inc increased its holdings in shares of General Dynamics by 6.3% in the 2nd quarter. TD Asset Management Inc now owns 198,282 shares of the aerospace company’s stock worth $57,831,000 after acquiring an additional 11,826 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at General Dynamics

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

Analysts Set New Price Targets

A number of analysts recently weighed in on GD shares. Citigroup increased their price objective on shares of General Dynamics from $348.00 to $368.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. TD Cowen lifted their price objective on shares of General Dynamics from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, June 25th. Barclays raised their target price on shares of General Dynamics from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Robert W. Baird raised their target price on shares of General Dynamics from $283.00 to $350.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $400.00 target price on shares of General Dynamics in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $324.11.

General Dynamics Stock Performance

NYSE:GD opened at $335.52 on Wednesday. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $347.37. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $325.81 and a 200-day moving average of $297.86. The firm has a market cap of $90.25 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 2.06 and a beta of 0.47.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $12.13 billion. During the same quarter last year, the firm posted $3.26 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, October 10th. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. General Dynamics’s dividend payout ratio (DPR) is 40.27%.

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.