Ceredex Value Advisors LLC Purchases New Position in General Dynamics Corporation $GD

Key Points

• Ceredex Value Advisors LLC acquired 110,575 shares of General Dynamics Corporation, valued at approximately $30.14 million, during the 1st quarter.
• The company reported a quarterly earnings per share of $3.74, surpassing analyst estimates, and a revenue of $13.04 billion, reflecting an 8.9% year-over-year increase.
• General Dynamics announced a quarterly dividend of $1.50 to be paid on November 14th, representing an annualized dividend of $6.00 with a yield of 1.9%.

Ceredex Value Advisors LLC bought a new position in General Dynamics Corporation (NYSE:GD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 110,575 shares of the aerospace company's stock, valued at approximately $30,141,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GD. GAMMA Investing LLC increased its stake in General Dynamics by 34,578.2% in the first quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company's stock worth $339,253,000 after purchasing an additional 1,241,011 shares during the period. Castlekeep Investment Advisors LLC bought a new position in shares of General Dynamics during the 4th quarter worth $279,582,000. Nuveen LLC bought a new position in shares of General Dynamics during the 1st quarter worth $272,464,000. Ameriprise Financial Inc. grew its position in shares of 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 buying an additional 709,782 shares in the last quarter. Finally, Deutsche Bank AG grew its position in shares of General Dynamics by 120.9% during the 1st quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company's stock worth $343,866,000 after buying an additional 690,349 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

Insider Transactions at General Dynamics

In other news, VP Christopher J. Brady sold 8,150 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $321.18, for a total value of $2,617,617.00. Following the completion of the transaction, the vice president directly owned 22,818 shares in the company, valued at $7,328,685.24. This trade represents a 26.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Phebe N. Novakovic sold 178,821 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $283.13, for a total value of $50,629,589.73. Following the completion of the transaction, the chief executive officer owned 769,607 shares of the company's stock, valued at approximately $217,898,829.91. The trade was a 18.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 458,260 shares of company stock valued at $138,125,545. 1.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their price target on General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. UBS Group increased 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. 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. Citigroup increased 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. Finally, Cowen reaffirmed a "buy" rating on shares of General Dynamics in a research report on Wednesday, June 25th. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $315.78.

General Dynamics Stock Down 0.1%

General Dynamics stock traded down $0.27 during midday trading on Friday, reaching $324.64. The company's stock had a trading volume of 670,140 shares, compared to its average volume of 1,415,969. The stock's 50-day simple moving average is $306.06 and its 200-day simple moving average is $281.06. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $326.02. The stock has a market capitalization of $87.33 billion, a P/E ratio of 21.79, a PEG ratio of 2.00 and a beta of 0.48.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 EPS 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 company had revenue of $13.04 billion during the quarter, compared to analysts' expectations of $12.13 billion. During the same period last year, the business posted $3.26 earnings per share. 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. On average, sell-side analysts expect that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.8%. General Dynamics's dividend payout ratio (DPR) is 40.27%.

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.