Edgar Lomax Co. VA Raises Holdings in General Dynamics Corporation $GD

Key Points

• Edgar Lomax Co. VA increased its holdings in General Dynamics by 19.9% during the first quarter, acquiring an additional 24,080 shares, which now represents 2.5% of its portfolio.
• In the same quarter, other institutional investors such as JPMorgan Chase & Co. and Royal Bank of Canada also boosted their stakes in General Dynamics, indicating heightened interest among hedge funds.
• General Dynamics reported strong quarterly earnings, with $3.74 earnings per share, exceeding estimates and showing an 8.9% increase in revenue compared to the previous year.

Edgar Lomax Co. VA lifted its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 19.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,169 shares of the aerospace company's stock after purchasing an additional 24,080 shares during the period. General Dynamics comprises approximately 2.5% of Edgar Lomax Co. VA's investment portfolio, making the stock its 17th largest holding. Edgar Lomax Co. VA owned 0.05% of General Dynamics worth $39,570,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Rialto Wealth Management LLC increased its position in shares of General Dynamics by 213.8% during the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after buying an additional 62 shares during the period. Inlight Wealth Management LLC bought a new stake in shares of General Dynamics during the first quarter valued at about $26,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of General Dynamics during the first quarter valued at about $27,000. Copia Wealth Management bought a new stake in shares of General Dynamics during the fourth quarter valued at about $27,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of General Dynamics during the fourth quarter valued at about $28,000. 86.14% of the stock is currently owned by institutional investors.

Insider Activity at General Dynamics

In related news, EVP Marguerite Amy Gilliland sold 33,740 shares of General Dynamics stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $315.20, for a total transaction of $10,634,848.00. Following the sale, the executive vice president 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leon Rudy F. De sold 5,490 shares of General Dynamics stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $312.81, for a total value of $1,717,326.90. Following the sale, the director directly owned 5,483 shares in the company, valued at $1,715,137.23. This trade represents a 50.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 448,900 shares of company stock worth $135,121,890 in the last three months. Corporate insiders own 1.50% of the company's stock.

General Dynamics Trading Up 0.9%

GD stock traded up $2.8260 on Friday, reaching $319.3560. The company's stock had a trading volume of 917,212 shares, compared to its average volume of 1,434,751. The business has a fifty day simple moving average of $301.82 and a two-hundred day simple moving average of $278.78. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $322.50. The firm has a market cap of $85.90 billion, a PE ratio of 21.43, a PEG ratio of 1.95 and a beta of 0.48. 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 posted its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $12.13 billion. During the same quarter in the prior year, the company earned $3.26 earnings per share. The firm's quarterly 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 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. Investors of record on Friday, October 10th will be paid a dividend of $1.50 per share. 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 dividend payout ratio (DPR) is 40.27%.

Analyst Ratings Changes

Several research firms recently weighed in on GD. Barclays upped their price objective on shares of General Dynamics from $285.00 to $350.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft upgraded shares of General Dynamics from a "hold" rating to a "buy" rating and upped their price objective for the stock from $298.00 to $342.00 in a research report on Tuesday, July 8th. Susquehanna upped their price objective on shares of General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Jefferies Financial Group set a $325.00 target price on General Dynamics and gave the stock a "hold" rating in a research note on Wednesday, July 9th. Finally, Robert W. Baird upped their target price on General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Nine investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, General Dynamics presently has an average rating of "Hold" and a consensus price target of $315.78.

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.