General Dynamics Corporation $GD Shares Purchased by Amundi

Key Points

• Amundi has raised its holdings in General Dynamics Corporation by 14.2%, owning 113,902 shares valued at approximately $30.71 million as of the end of the last quarter.
• The company's recent quarterly earnings reported $3.74 EPS, exceeding analysts' expectations by $0.27, with a revenue of $13.04 billion.
• General Dynamics announced a quarterly dividend of $1.50 per share to be paid on November 14th, representing an annualized dividend yield of 1.9%.

Amundi lifted its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 14.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,902 shares of the aerospace company's stock after purchasing an additional 14,162 shares during the quarter. Amundi's holdings in General Dynamics were worth $30,710,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its position in General Dynamics by 4.9% in the first quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company's stock worth $1,499,819,000 after acquiring an additional 256,687 shares in the last quarter. Royal Bank of Canada increased its position in General Dynamics by 5.2% during the 4th quarter. Royal Bank of Canada now owns 2,935,046 shares of the aerospace company's stock worth $773,355,000 after purchasing an additional 145,978 shares in the last quarter. Ameriprise Financial Inc. increased its position in General Dynamics by 34.8% during the 1st quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company's stock worth $749,252,000 after purchasing an additional 709,782 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in General Dynamics by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,582,388 shares of the aerospace company's stock worth $431,327,000 after purchasing an additional 5,313 shares in the last quarter. Finally, Boston Partners increased its position in General Dynamics by 7.9% during the 1st quarter. Boston Partners now owns 1,296,497 shares of the aerospace company's stock worth $353,558,000 after purchasing an additional 94,537 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. UBS Group lifted their price objective on General Dynamics from $309.00 to $333.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Cowen reiterated a "buy" rating on shares of General Dynamics in a research report on Wednesday, June 25th. Deutsche Bank Aktiengesellschaft upgraded General Dynamics from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $298.00 to $342.00 in a research report on Tuesday, July 8th. Citigroup raised their price target on General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Susquehanna raised their price target on General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a research note 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $315.78.

General Dynamics Trading Down 0.7%

Shares of NYSE GD traded down $2.29 during midday trading on Friday, hitting $327.33. The stock had a trading volume of 143,823 shares, compared to its average volume of 1,380,612. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $330.18. The company has a market capitalization of $88.05 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 1.98 and a beta of 0.50. The company has a fifty day moving average price of $313.11 and a 200 day moving average price of $286.42.

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 analysts' consensus estimates of $3.47 by $0.27. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The business had revenue of $13.04 billion during the quarter, compared to analysts' expectations of $12.13 billion. During the same quarter in the previous year, the business earned $3.26 EPS. The company's revenue for the quarter was up 8.9% on a year-over-year basis. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. On average, analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current 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 dividend of $1.50 per share. The ex-dividend date is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. General Dynamics's payout ratio is presently 40.27%.

Insider Buying and Selling at General Dynamics

In other news, 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 sale, the executive vice president owned 45,192 shares in the company, valued at approximately $14,244,518.40. The trade was a 42.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Malcolm sold 1,210 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $319.04, for a total value of $386,038.40. Following the sale, the director owned 10,186 shares of the company's stock, valued at $3,249,741.44. The trade was a 10.62% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 279,439 shares of company stock worth $87,495,956. Company insiders own 1.50% of the company's stock.

General Dynamics Company 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.