SCS Capital Management LLC Takes $437,000 Position in General Dynamics Corporation $GD

Key Points

• SCS Capital Management LLC acquired 1,602 shares of General Dynamics Corporation valued at approximately $437,000, highlighting growing institutional interest in the aerospace company.
• CEO Phebe N. Novakovic sold 129,090 shares of the company’s stock, representing a 14.36% decrease in her ownership, while insider sales in the last 90 days totaled approximately $87.5 million.
• General Dynamics reported $3.74 earnings per share for the last quarter, exceeding analysts' expectations, and announced a quarterly dividend of $1.50 per share with a yield of 1.8%.

SCS Capital Management LLC purchased a new stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,602 shares of the aerospace company's stock, valued at approximately $437,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of General Dynamics by 34,578.2% in the first quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company's stock worth $339,253,000 after buying an additional 1,241,011 shares during the period. Nuveen LLC purchased a new position in shares of General Dynamics in the first quarter valued at about $272,464,000. Ameriprise Financial Inc. raised its stake in shares of General Dynamics by 34.8% during the first quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company's stock valued at $749,252,000 after acquiring an additional 709,782 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of 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 purchasing an additional 690,349 shares during the period. Finally, Voloridge Investment Management LLC grew its stake in shares of General Dynamics by 6,387.2% in the fourth quarter. Voloridge Investment Management LLC now owns 401,236 shares of the aerospace company's stock worth $105,722,000 after purchasing an additional 395,051 shares during the last quarter. Institutional investors own 86.14% of the company's stock.

General Dynamics Stock Up 0.5%

Shares of GD traded up $1.54 during trading hours on Tuesday, hitting $328.52. The company had a trading volume of 522,497 shares, compared to its average volume of 1,374,293. The firm has a fifty day moving average price of $314.39 and a 200-day moving average price of $287.97. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. The stock has a market capitalization of $88.37 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 2.00 and a beta of 0.50. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $330.18.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.27. The firm had revenue of $13.04 billion during the quarter, compared to analyst estimates of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.General Dynamics's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. On average, equities research analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, October 10th. This represents a $6.00 annualized dividend and a yield of 1.8%. General Dynamics's dividend payout ratio is currently 40.27%.

Analysts Set New Price Targets

A number of research firms have commented on GD. Citigroup upped their price target on General Dynamics from $348.00 to $368.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Sanford C. Bernstein set a $314.00 target price on General Dynamics and gave the company a "market perform" rating in a report on Monday, July 14th. Robert W. Baird lifted their price target on shares of General Dynamics from $283.00 to $350.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Barclays lifted their price target on shares of General Dynamics from $285.00 to $350.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of General Dynamics from $284.00 to $345.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $315.78.

Insider Buying and Selling at General Dynamics

In other General Dynamics 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 transaction, the vice president owned 16,627 shares in the company, valued at approximately $5,260,782.80. This represents a 51.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Lagrand Burns sold 43,860 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the transaction, the executive vice president owned 39,875 shares in the company, valued at $12,452,165. This represents a 52.38% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 275,020 shares of company stock worth $86,414,503. 1.50% of the stock is owned by company insiders.

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.