General Dynamics Corporation $GD Shares Bought by Evergreen Capital Management LLC

Key Points

• Evergreen Capital Management significantly increased its position in General Dynamics, growing its holdings by 309.2% to 16,268 shares valued at $4.43 million.
• General Dynamics reported robust quarterly earnings with a 3.74 EPS, exceeding analyst expectations and showing an 8.9% increase in revenue year-over-year.
• The company declared a quarterly dividend of $1.50, representing a 1.8% dividend yield and reflecting a payout ratio of 40.27%.

Evergreen Capital Management LLC raised its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 309.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,268 shares of the aerospace company's stock after acquiring an additional 12,292 shares during the period. Evergreen Capital Management LLC's holdings in General Dynamics were worth $4,434,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of General Dynamics by 4.9% in the first quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company's stock valued at $1,499,819,000 after buying an additional 256,687 shares in the last quarter. Royal Bank of Canada grew its position in General Dynamics by 5.2% in the 4th quarter. Royal Bank of Canada now owns 2,935,046 shares of the aerospace company's stock valued at $773,355,000 after acquiring an additional 145,978 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of General Dynamics by 34.8% in the first quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company's stock valued at $749,252,000 after purchasing an additional 709,782 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of General Dynamics by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,582,388 shares of the aerospace company's stock valued at $431,327,000 after purchasing an additional 5,313 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of General Dynamics by 7.9% in the first quarter. Boston Partners now owns 1,296,497 shares of the aerospace company's stock valued at $353,558,000 after purchasing an additional 94,537 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

Analysts Set New Price Targets

GD has been the subject of several research reports. Sanford C. Bernstein set a $314.00 price target on shares of General Dynamics and gave the stock a "market perform" rating in a research note on Monday, July 14th. Cowen reiterated a "buy" rating on shares of General Dynamics in a report on Wednesday, June 25th. Argus set a $295.00 price target on shares of General Dynamics in a report on Tuesday, May 6th. 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 note on Thursday, July 24th. Finally, TD Cowen boosted their target price on shares of General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Nine investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, General Dynamics has an average rating of "Hold" and a consensus target price of $315.78.

General Dynamics Stock Performance

Shares of GD stock traded down $1.84 during trading hours on Wednesday, hitting $322.55. The stock had a trading volume of 656,929 shares, compared to its average volume of 1,406,550. The firm has a market capitalization of $86.76 billion, a PE ratio of 21.65, a PEG ratio of 1.99 and a beta of 0.50. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $326.02. The stock's 50 day moving average is $308.68 and its 200 day moving average is $282.85. 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 (NYSE:GD - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, topping the consensus estimate 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 earned $3.26 earnings per share. The business'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 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, October 10th. General Dynamics's dividend payout ratio (DPR) is presently 40.27%.

Insider Activity

In related news, VP Christopher J. Brady sold 8,150 shares of the business's stock in a transaction dated Monday, August 25th. The shares were 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $315.20, for a total transaction of $10,634,848.00. Following the completion of the transaction, the executive vice president directly owned 45,192 shares of the company's stock, valued at approximately $14,244,518.40. This represents a 42.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 458,260 shares of company stock valued at $138,125,545 in the last 90 days. Insiders own 1.50% of the company's stock.

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.