Atria Wealth Solutions Inc. Has $5.06 Million Stock Position in General Dynamics Corporation $GD

Key Points

• Atria Wealth Solutions Inc. has reduced its stake in General Dynamics by 38.9%, holding 17,334 shares valued at approximately $5.06 million.
• General Dynamics reported Q2 earnings of $3.74 per share, exceeding estimates, with a revenue of $13.04 billion, marking an 8.9% annual increase.
• A quarterly dividend of $1.50 will be paid on November 14th, which translates to an annual yield of 1.8%.

Atria Wealth Solutions Inc. decreased its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 38.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,334 shares of the aerospace company's stock after selling 11,035 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in General Dynamics were worth $5,064,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of GD. Inlight Wealth Management LLC acquired a new stake in General Dynamics during the 1st quarter worth about $26,000. Smallwood Wealth Investment Management LLC acquired a new stake in General Dynamics during the 1st quarter worth about $27,000. Quarry LP boosted its position in General Dynamics by 783.3% during the 1st quarter. Quarry LP now owns 106 shares of the aerospace company's stock worth $29,000 after acquiring an additional 94 shares during the period. Abound Financial LLC acquired a new stake in General Dynamics during the 1st quarter worth about $32,000. Finally, Nova Wealth Management Inc. acquired a new stake in General Dynamics during the 1st quarter worth about $33,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Up 0.5%

Shares of GD stock opened at $334.64 on Tuesday. The stock's 50 day simple moving average is $325.37 and its 200 day simple moving average is $297.59. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $347.37. The company has a market capitalization of $90.01 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 2.05 and a beta of 0.47.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $12.13 billion. During the same period last year, the business earned $3.26 EPS. The firm's 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. As a group, research analysts predict that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics's dividend payout ratio (DPR) is presently 40.27%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GD shares. The Goldman Sachs Group raised their price objective on General Dynamics from $280.00 to $293.00 and gave the stock a "sell" rating in a research report on Friday. Robert W. Baird raised their price objective on General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of General Dynamics in a research note on Wednesday, October 8th. Sanford C. Bernstein set a $314.00 price target on General Dynamics and gave the stock a "market perform" rating in a research note on Monday, July 14th. Finally, Seaport Res Ptn raised General Dynamics from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 29th. One research 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 given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $324.11.

Insiders Place Their Bets

In related news, EVP Marguerite Amy Gilliland sold 33,740 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $315.20, for a total value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the transaction, the executive vice president directly owned 39,875 shares in the company, valued at $12,452,165. The trade was a 52.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 275,020 shares of company stock worth $86,414,503 in the last three months. 1.50% of the stock is owned by 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.

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