BlackRock Inc. acquired a new stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 19,310,609 shares of the aerospace company's stock, valued at approximately $6,840,590,000. BlackRock Inc. owned 7.14% of General Dynamics as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Occidental Asset Management LLC bought a new position in General Dynamics in the 2nd quarter worth about $463,000. Succession Financial Inc. bought a new stake in General Dynamics during the 2nd quarter valued at $279,000. Dunhill Financial LLC bought a new position in shares of General Dynamics during the 2nd quarter worth $114,000. Pallas Capital Advisors LLC bought a new stake in shares of General Dynamics in the second quarter valued at about $977,000. Finally, Performance Wealth Partners LLC bought a new position in General Dynamics during the 2nd quarter worth about $769,000. Hedge funds and other institutional investors own 86.14% of the company's stock.
General Dynamics Stock Performance
GD opened at $390.67 on Tuesday. The stock has a market cap of $105.70 billion, a P/E ratio of 23.84, a P/E/G ratio of 2.29 and a beta of 0.32. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.44 and a quick ratio of 0.96. The firm has a fifty day moving average price of $371.16 and a 200 day moving average price of $354.81. General Dynamics Corporation has a 1 year low of $306.77 and a 1 year high of $400.00.
General Dynamics (NYSE:GD - Get Free Report) last posted its earnings results on Wednesday, July 29th. The aerospace company reported $4.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.28. The business had revenue of $14.09 billion for the quarter, compared to analyst estimates of $13.52 billion. General Dynamics had a net margin of 8.18% and a return on equity of 17.43%. The company's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.74 EPS. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. Equities research analysts anticipate that General Dynamics Corporation will post 16.97 earnings per share for the current year.
General Dynamics Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 9th will be paid a $1.59 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $6.36 dividend on an annualized basis and a yield of 1.6%. General Dynamics's dividend payout ratio (DPR) is currently 38.80%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on GD shares. Citigroup increased their price objective on shares of General Dynamics from $364.00 to $404.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. UBS Group raised their price objective on General Dynamics from $366.00 to $395.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $384.00 price target on shares of General Dynamics in a research report on Thursday, July 30th. Weiss Ratings raised shares of General Dynamics from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 1st. Finally, Bank of America raised their price objective on General Dynamics from $400.00 to $415.00 and gave the stock a "buy" rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $410.89.
Check Out Our Latest Analysis on GD
Insiders Place Their Bets
In other news, Director Mark Malcolm sold 5,480 shares of the firm's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total value of $2,000,200.00. Following the transaction, the director directly owned 10,643 shares of the company's stock, valued at approximately $3,884,695. This trade represents a 33.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Phebe N. Novakovic sold 51,568 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $382.58, for a total transaction of $19,728,885.44. Following the sale, the chief executive officer directly owned 766,457 shares of the company's stock, valued at approximately $293,231,119.06. This represents a 6.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 100,228 shares of company stock worth $38,052,853. Corporate insiders own 1.40% of the company's stock.
About General Dynamics
(
Free Report)
General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.
Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider General Dynamics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and General Dynamics wasn't on the list.
While General Dynamics currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.
"Physical AI" is coming to the United States, and there are four ways that investors can gain exposure to this new robotics revolution. Plus, learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Get This Free Report
