Abel Hall LLC Takes $238,000 Position in General Dynamics Corporation $GD

Key Points

• Abel Hall LLC has acquired a new stake in General Dynamics Corporation, purchasing 815 shares valued at approximately $238,000.
• General Dynamics reported earnings of $3.74 per share for the latest quarter, surpassing analyst estimates and showing an 8.9% year-over-year revenue growth.
• The company recently announced a quarterly dividend of $1.50 per share, representing a 1.7% dividend yield, with an ex-dividend date on October 10th.

Abel Hall LLC purchased a new stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 815 shares of the aerospace company's stock, valued at approximately $238,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. REAP Financial Group LLC increased its position in shares of General Dynamics by 84.1% during the second quarter. REAP Financial Group LLC now owns 427 shares of the aerospace company's stock valued at $125,000 after buying an additional 195 shares during the period. Canopy Partners LLC increased its position in shares of General Dynamics by 5.7% during the second quarter. Canopy Partners LLC now owns 831 shares of the aerospace company's stock valued at $242,000 after buying an additional 45 shares during the period. Shell Asset Management Co. increased its position in shares of General Dynamics by 70.1% during the second quarter. Shell Asset Management Co. now owns 6,781 shares of the aerospace company's stock valued at $1,978,000 after buying an additional 2,795 shares during the period. KPP Advisory Services LLC increased its position in shares of General Dynamics by 6.4% during the second quarter. KPP Advisory Services LLC now owns 1,801 shares of the aerospace company's stock valued at $525,000 after buying an additional 108 shares during the period. Finally, Valeo Financial Advisors LLC increased its position in shares of General Dynamics by 13.2% during the second quarter. Valeo Financial Advisors LLC now owns 7,884 shares of the aerospace company's stock valued at $2,299,000 after buying an additional 919 shares during the period. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Up 0.9%

Shares of GD opened at $346.45 on Thursday. The firm has a market cap of $93.19 billion, a P/E ratio of 23.25, a P/E/G ratio of 2.10 and a beta of 0.47. The stock has a 50 day simple moving average of $323.85 and a two-hundred day simple moving average of $295.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $347.37.

General Dynamics (NYSE:GD - Get Free Report) last issued its 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 business 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 revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. On average, analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be issued a $1.50 dividend. The ex-dividend date is Friday, October 10th. This represents a $6.00 annualized dividend and a dividend yield of 1.7%. General Dynamics's dividend payout ratio (DPR) is currently 40.27%.

Insider Transactions at General Dynamics

In other news, EVP Mark Lagrand Burns sold 43,860 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $312.28, for a total value of $13,696,600.80. Following the transaction, the executive vice president owned 39,875 shares in the company, valued at approximately $12,452,165. This trade represents a 52.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William A. Moss sold 17,700 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was 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 owned 16,627 shares in the company, valued at $5,260,782.80. This represents a 51.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 275,020 shares of company stock valued at $86,414,503. 1.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GD has been the topic of several research analyst reports. Jefferies Financial Group set a $325.00 price objective on shares of General Dynamics and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Susquehanna upped their price objective on shares of General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Citigroup upped their price objective on shares of General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $400.00 price objective on shares of General Dynamics in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of General Dynamics from a "hold" rating to a "buy" rating in a research report on Saturday, October 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $319.00.

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.

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