Belpointe Asset Management LLC Purchases 2,662 Shares of General Dynamics Corporation $GD

Key Points

• Belpointe Asset Management LLC increased its stake in General Dynamics by 198.2%, acquiring an additional 2,662 shares, bringing its total holdings to 4,005 shares valued at approximately $1.09 million.
• General Dynamics announced a quarterly dividend of $1.50 per share, set to be distributed on November 14th, with a 1.8% dividend yield.
• Equities analysts have set an average price target of $315.78 for General Dynamics, with ratings ranging from Buy to Hold among the major analysts.

Belpointe Asset Management LLC boosted its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 198.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,005 shares of the aerospace company's stock after buying an additional 2,662 shares during the quarter. Belpointe Asset Management LLC's holdings in General Dynamics were worth $1,092,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Principal Securities Inc. increased its holdings in General Dynamics by 0.5% during the first quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company's stock valued at $2,161,000 after buying an additional 37 shares during the period. Sharpepoint LLC increased its holdings in General Dynamics by 4.2% during the first quarter. Sharpepoint LLC now owns 917 shares of the aerospace company's stock valued at $249,000 after buying an additional 37 shares during the period. United Asset Strategies Inc. increased its holdings in General Dynamics by 1.2% during the first quarter. United Asset Strategies Inc. now owns 3,140 shares of the aerospace company's stock valued at $856,000 after buying an additional 37 shares during the period. 1858 Wealth Management LLC increased its holdings in General Dynamics by 1.2% during the first quarter. 1858 Wealth Management LLC now owns 3,224 shares of the aerospace company's stock valued at $879,000 after buying an additional 38 shares during the period. Finally, Keystone Financial Services increased its holdings in General Dynamics by 1.6% during the first quarter. Keystone Financial Services now owns 2,421 shares of the aerospace company's stock valued at $660,000 after buying an additional 38 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GD shares. Sanford C. Bernstein set a $314.00 price target on General Dynamics and gave the stock a "market perform" rating in a research report on Monday, July 14th. Citigroup upped their price target on General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Jefferies Financial Group set a $325.00 price target on General Dynamics and gave the stock a "hold" rating in a research report on Wednesday, July 9th. UBS Group upped their price target on General Dynamics from $309.00 to $333.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, TD Cowen upped their price target on General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Nine equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $315.78.

General Dynamics Trading Up 2.0%

Shares of General Dynamics stock opened at $329.60 on Friday. The firm has a 50-day simple moving average of $313.11 and a two-hundred day simple moving average of $286.42. The company has a market cap of $88.66 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 1.98 and a beta of 0.50. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $330.00. 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 (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, topping analysts' consensus estimates of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The business had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. During the same quarter in the prior year, the firm posted $3.26 earnings per share. The company'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, equities analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

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

Insider Activity

In related news, CEO Phebe N. Novakovic sold 129,090 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the completion of the transaction, the chief executive officer owned 769,607 shares in the company, valued at $241,325,666.99. This represents a 14.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William A. Moss sold 17,700 shares of the company's stock in a transaction dated 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 transaction, the vice president owned 16,627 shares of the company's stock, valued at approximately $5,260,782.80. This trade represents a 51.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 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.

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