Burney Co. Grows Stock Holdings in General Dynamics Corporation $GD

Burney Co. boosted its holdings in General Dynamics Corporation (NYSE:GD) by 8.1% in the second quarter, Holdings Channel reports. The institutional investor owned 15,784 shares of the aerospace company’s stock after acquiring an additional 1,179 shares during the quarter. Burney Co.’s holdings in General Dynamics were worth $4,603,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP grew its position in shares of General Dynamics by 783.3% during the 1st quarter. Quarry LP now owns 106 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 94 shares in the last quarter. Abound Financial LLC purchased a new position in shares of General Dynamics during the 1st quarter valued at $32,000. Harbor Asset Planning Inc. purchased a new position in shares of General Dynamics during the 2nd quarter valued at $35,000. Nova Wealth Management Inc. purchased a new position in shares of General Dynamics during the 1st quarter valued at $33,000. Finally, Salomon & Ludwin LLC grew its position in shares of General Dynamics by 70.4% during the 2nd quarter. Salomon & Ludwin LLC now owns 121 shares of the aerospace company’s stock valued at $36,000 after purchasing an additional 50 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Barclays upped their target price on shares of General Dynamics from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Melius Research upgraded shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 28th. Sanford C. Bernstein upped their target price on shares of General Dynamics from $335.00 to $388.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 28th. Jefferies Financial Group set a $325.00 target price on shares of General Dynamics and gave the stock a “hold” rating in a research report on Wednesday, July 9th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of General Dynamics in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $350.89.

General Dynamics Stock Performance

General Dynamics stock opened at $341.46 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.40 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $92.23 billion, a PE ratio of 22.13, a P/E/G ratio of 2.05 and a beta of 0.47. The firm has a fifty day simple moving average of $332.93 and a two-hundred day simple moving average of $305.41. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $360.50.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Friday, October 24th. The aerospace company reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.69 by $0.19. The business had revenue of $12.91 billion during the quarter, compared to the consensus estimate of $12.49 billion. General Dynamics had a net margin of 8.18% and a return on equity of 18.27%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.35 earnings per share. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. Research analysts expect that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 annualized dividend and a yield of 1.8%. General Dynamics’s payout ratio is currently 38.89%.

Insider Activity

In other news, VP William A. Moss sold 17,700 shares of the company’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 directly owned 16,627 shares of the company’s stock, valued at approximately $5,260,782.80. This represents a 51.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark Malcolm sold 3,220 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $329.45, for a total transaction of $1,060,829.00. Following the transaction, the director directly owned 10,186 shares of the company’s stock, valued at approximately $3,355,777.70. This trade represents a 24.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 193,110 shares of company stock valued at $60,778,364. 1.50% of the stock is owned by corporate insiders.

General Dynamics Profile

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.