Eliot Finkel Investment Counsel LLC Trims Stake in General Dynamics Corporation $GD

Eliot Finkel Investment Counsel LLC lessened its holdings in General Dynamics Corporation (NYSE:GD) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,582 shares of the aerospace company’s stock after selling 395 shares during the period. General Dynamics makes up about 5.0% of Eliot Finkel Investment Counsel LLC’s investment portfolio, making the stock its 5th largest position. Eliot Finkel Investment Counsel LLC’s holdings in General Dynamics were worth $7,753,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in General Dynamics by 4.9% during the first quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company’s stock worth $1,499,819,000 after buying an additional 256,687 shares during the period. Ameriprise Financial Inc. boosted its stake in General Dynamics by 34.8% during the first quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company’s stock worth $749,252,000 after buying an additional 709,782 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in General Dynamics by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,582,388 shares of the aerospace company’s stock worth $431,327,000 after buying an additional 5,313 shares during the period. Boston Partners boosted its stake in General Dynamics by 7.9% during the first quarter. Boston Partners now owns 1,296,497 shares of the aerospace company’s stock worth $353,558,000 after buying an additional 94,537 shares during the period. Finally, Deutsche Bank AG boosted its stake in General Dynamics by 120.9% during the first quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company’s stock worth $343,866,000 after buying an additional 690,349 shares during the period. Institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on GD. Cowen reaffirmed a “buy” rating on shares of General Dynamics in a research note on Wednesday, June 25th. 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. TD Cowen boosted their target price 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. Jefferies Financial Group set a $325.00 target price on shares of General Dynamics and gave the company a “hold” rating in a research note on Wednesday, July 9th. Finally, Seaport Res Ptn raised shares of General Dynamics from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $315.78.

General Dynamics Stock Performance

GD stock opened at $343.76 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. The business has a 50-day moving average price of $321.91 and a 200 day moving average price of $294.30. The company has a market capitalization of $92.47 billion, a P/E ratio of 23.07, a PEG ratio of 2.10 and a beta of 0.47. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $345.22.

General Dynamics (NYSE:GD) last released 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. The firm had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. As a group, equities research analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, October 10th. General Dynamics’s payout ratio is presently 40.27%.

Insider Transactions at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 8,150 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $321.18, for a total value of $2,617,617.00. Following the completion of the transaction, the vice president directly owned 22,818 shares in the company, valued at approximately $7,328,685.24. The trade was a 26.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $315.20, for a total transaction of $10,634,848.00. Following the completion of the transaction, the executive vice president owned 45,192 shares of the company’s stock, valued at $14,244,518.40. This represents a 42.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 275,020 shares of company stock valued at $86,414,503 over the last three months. 1.50% of the stock is currently 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.