Diversified Trust Co Acquires 3,001 Shares of General Dynamics Corporation $GD

Key Points

• Diversified Trust Co increased its stake in General Dynamics Corporation by 69.4%, owning a total of 7,323 shares valued at $2.136 million at the end of Q2.
• General Dynamics recently reported earnings of $3.74 per share, exceeding expectations, with a revenue of $13.04 billion for the quarter.
• The company announced a quarterly dividend of $1.50 per share, translating to an annualized yield of 1.9%, with payment scheduled for November 14th.

Diversified Trust Co raised its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 69.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,323 shares of the aerospace company's stock after purchasing an additional 3,001 shares during the quarter. Diversified Trust Co's holdings in General Dynamics were worth $2,136,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GD. GAMMA Investing LLC raised its stake in shares of General Dynamics by 34,578.2% in the 1st quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company's stock valued at $339,253,000 after acquiring an additional 1,241,011 shares during the period. Nuveen LLC purchased a new stake in General Dynamics during the 1st quarter worth $272,464,000. Ameriprise Financial Inc. increased its stake 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 buying an additional 709,782 shares during the period. Deutsche Bank AG increased its stake in 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 during the period. Finally, JPMorgan Chase & Co. increased its stake in General Dynamics by 4.9% during the 1st quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company's stock worth $1,499,819,000 after buying an additional 256,687 shares during the period. Hedge funds and other institutional investors own 86.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GD. Citigroup boosted their target price on shares of General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Sanford C. Bernstein set a $314.00 target price on shares of General Dynamics and gave the stock a "market perform" rating in a research report on Monday, July 14th. Deutsche Bank Aktiengesellschaft raised shares of General Dynamics from a "hold" rating to a "buy" rating and boosted their target price for the stock from $298.00 to $342.00 in a research report on Tuesday, July 8th. JPMorgan Chase & Co. boosted their target price on shares of General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, UBS Group boosted their target price on shares of General Dynamics from $309.00 to $333.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Nine research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, General Dynamics presently has a consensus rating of "Hold" and an average price target of $315.78.

General Dynamics Trading Down 0.4%

Shares of GD stock traded down $1.34 during trading hours on Tuesday, reaching $321.32. 432,767 shares of the stock traded hands, compared to its average volume of 1,378,872. The business has a fifty day moving average price of $316.73 and a 200 day moving average price of $290.21. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $330.18. The firm has a market capitalization of $86.43 billion, a PE ratio of 21.57, a PEG ratio of 1.99 and a beta of 0.50. 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 (NYSE:GD - Get Free Report) last announced its quarterly earnings data 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 net margin of 8.13% and a return on equity of 17.99%. The firm had revenue of $13.04 billion for the quarter, compared to the consensus estimate of $12.13 billion. During the same period in the previous year, the firm posted $3.26 earnings per share. The firm's revenue 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, equities research analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics's payout ratio is currently 40.27%.

Insider Buying and Selling

In related news, Director Mark Malcolm sold 3,220 shares of the company's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $329.45, for a total transaction of $1,060,829.00. Following the completion of the sale, the director directly owned 10,186 shares of the company's stock, valued at approximately $3,355,777.70. This represents a 24.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher J. Brady sold 8,150 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $321.18, for a total transaction of $2,617,617.00. Following the transaction, the vice president owned 22,818 shares of the company's stock, valued at approximately $7,328,685.24. The trade was a 26.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 275,020 shares of company stock valued at $86,414,503. 1.50% of the stock is owned by company insiders.

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.