Kingsman Wealth Management Inc. Takes $1.09 Million Position in General Dynamics Corporation $GD

Kingsman Wealth Management Inc. purchased a new stake in shares of General Dynamics Corporation (NYSE:GD) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 3,186 shares of the aerospace company’s stock, valued at approximately $1,086,000. General Dynamics accounts for approximately 0.6% of Kingsman Wealth Management Inc.’s holdings, making the stock its 28th biggest position.

Several other institutional investors and hedge funds have also bought and sold shares of GD. Halbert Hargrove Global Advisors LLC bought a new position in shares of General Dynamics in the 3rd quarter worth approximately $26,000. Louisbourg Investments Inc. purchased a new stake in General Dynamics in the third quarter worth $27,000. Quarry LP raised its holdings in General Dynamics by 783.3% in the first quarter. Quarry LP now owns 106 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 94 shares in the last quarter. Vermillion & White Wealth Management Group LLC lifted its position in General Dynamics by 80.3% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 110 shares of the aerospace company’s stock valued at $32,000 after buying an additional 49 shares during the period. Finally, Nova Wealth Management Inc. bought a new stake in shares of General Dynamics during the 1st quarter valued at $33,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GD has been the subject of several research reports. Bank of America increased their price target on shares of General Dynamics from $370.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Susquehanna upped their price objective on shares of General Dynamics from $365.00 to $406.00 and gave the stock a “positive” rating in a report on Monday, October 27th. Vertical Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $400.00 price target on the stock in a research report on Monday, October 27th. BNP Paribas upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, November 18th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of General Dynamics in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $358.50.

Insider Buying and Selling at General Dynamics

In other news, VP David Paddock sold 20,360 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $334.92, for a total transaction of $6,818,971.20. Following the transaction, the vice president directly owned 36,644 shares of the company’s stock, valued at $12,272,808.48. This represents a 35.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is owned by insiders.

General Dynamics Price Performance

NYSE GD opened at $339.43 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.87 and a current ratio of 1.40. The company has a market capitalization of $91.69 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 1.69 and a beta of 0.40. The stock has a 50-day moving average of $341.88 and a 200 day moving average of $324.53. General Dynamics Corporation has a one year low of $239.20 and a one year high of $360.50.

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

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 16th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, January 16th. General Dynamics’s payout ratio is 38.89%.

About General Dynamics

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.