Midwest Trust Co Invests $805,000 in General Dynamics Corporation $GD

Midwest Trust Co bought a new position in shares of General Dynamics Corporation (NYSE:GD) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 2,760 shares of the aerospace company’s stock, valued at approximately $805,000.

Several other hedge funds have also recently made changes to their positions in GD. 1858 Wealth Management LLC lifted its holdings in shares of General Dynamics by 1.0% in the second quarter. 1858 Wealth Management LLC now owns 3,256 shares of the aerospace company’s stock valued at $950,000 after purchasing an additional 32 shares in the last quarter. Nicholson Wealth Management Group LLC lifted its stake in General Dynamics by 0.5% in the second quarter. Nicholson Wealth Management Group LLC now owns 6,582 shares of the aerospace company’s stock worth $1,920,000 after purchasing an additional 33 shares during the last quarter. Gilbert & Cook Inc. lifted its stake in General Dynamics by 1.4% in the second quarter. Gilbert & Cook Inc. now owns 2,389 shares of the aerospace company’s stock worth $697,000 after acquiring an additional 33 shares during the period. Crewe Advisors LLC grew its position in shares of General Dynamics by 10.9% in the 2nd quarter. Crewe Advisors LLC now owns 347 shares of the aerospace company’s stock worth $101,000 after buying an additional 34 shares during the period. Finally, CVA Family Office LLC lifted its holdings in shares of General Dynamics by 1.5% during the second quarter. CVA Family Office LLC now owns 2,256 shares of the aerospace company’s stock valued at $658,000 after purchasing an additional 34 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

General Dynamics Price Performance

Shares of GD opened at $352.17 on Wednesday. The company has a market cap of $95.13 billion, a P/E ratio of 22.82, a PEG ratio of 2.05 and a beta of 0.46. The firm’s 50 day moving average price is $335.51 and its 200 day moving average price is $308.53. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $360.50. The company has a quick ratio of 0.87, a current ratio of 1.40 and a debt-to-equity ratio of 0.29.

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

Wall Street Analyst Weigh In

Several analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on General Dynamics from $345.00 to $380.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Sanford C. Bernstein upped their price objective on General Dynamics from $335.00 to $388.00 and gave the company a “market perform” rating in a research report on Tuesday, October 28th. Melius Research upgraded General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $400.00 price target on shares of General Dynamics in a research report on Wednesday, October 8th. Finally, Morgan Stanley set a $385.00 price target on shares of General Dynamics in a report on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and an average price target of $350.89.

Insider Buying and Selling at General Dynamics

In related news, CEO Phebe N. Novakovic sold 129,090 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 769,607 shares in the company, valued at approximately $241,325,666.99. This trade represents a 14.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William A. Moss sold 17,700 shares of the company’s stock in a transaction on 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 approximately $5,260,782.80. The trade was a 51.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 159,370 shares of company stock valued at $50,143,516 over the last three months. Company insiders own 1.50% of the company’s stock.

General Dynamics Company 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.