Algert Global LLC Buys 2,707 Shares of General Dynamics Corporation $GD

Key Points

• Algert Global LLC increased its stake in General Dynamics by 23.8%, acquiring an additional 2,707 shares, bringing its total holdings to 14,081 shares valued at approximately $3.84 million.
• General Dynamics recently posted quarterly earnings of $3.74 per share, surpassing analysts' expectations of $3.47 and reporting revenue of $13.04 billion, an 8.9% increase compared to the previous year.
• The company declared a quarterly dividend of $1.50 per share, with an annualized yield of 1.9%, to be paid on November 14th.

Algert Global LLC increased its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 23.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,081 shares of the aerospace company's stock after acquiring an additional 2,707 shares during the period. Algert Global LLC's holdings in General Dynamics were worth $3,838,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC grew its holdings in shares of General Dynamics by 213.8% during the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock worth $25,000 after buying an additional 62 shares in the last quarter. Inlight Wealth Management LLC acquired a new position in General Dynamics during the 1st quarter worth approximately $26,000. Copia Wealth Management bought a new position in shares of General Dynamics during the 4th quarter worth approximately $27,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of General Dynamics in the first quarter valued at approximately $27,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of General Dynamics in the fourth quarter worth $28,000. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Performance

NYSE:GD opened at $316.3370 on Wednesday. The stock has a 50 day simple moving average of $300.26 and a 200 day simple moving average of $278.10. The stock has a market cap of $85.09 billion, a P/E ratio of 21.23, a PEG ratio of 1.92 and a beta of 0.48. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $322.50. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32.

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

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be paid a $1.50 dividend. The ex-dividend date is Friday, October 10th. This represents a $6.00 annualized dividend and a yield of 1.9%. General Dynamics's payout ratio is 40.27%.

Insider Activity

In other news, EVP Marguerite Amy Gilliland sold 33,740 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $315.20, for a total transaction of $10,634,848.00. Following the transaction, the executive vice president directly owned 45,192 shares of the company's stock, valued at approximately $14,244,518.40. This trade represents a 42.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leon Rudy F. De sold 5,490 shares of General Dynamics stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $312.81, for a total transaction of $1,717,326.90. Following the completion of the sale, the director owned 5,483 shares of the company's stock, valued at approximately $1,715,137.23. The trade was a 50.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 319,810 shares of company stock worth $94,643,139. Insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GD shares. Deutsche Bank Aktiengesellschaft upgraded shares of General Dynamics from a "hold" rating to a "buy" rating and lifted their price target for the company from $298.00 to $342.00 in a research note on Tuesday, July 8th. UBS Group lifted their target price on General Dynamics from $309.00 to $333.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Susquehanna upped their target price on General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Citigroup raised their price target on General Dynamics from $348.00 to $368.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, TD Securities upped their price objective on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Nine research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, General Dynamics presently has an average rating of "Hold" and a consensus target price of $315.78.

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.

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