Fifth Third Wealth Advisors LLC Raises Stock Holdings in General Dynamics Corporation $GD

Key Points

• Fifth Third Wealth Advisors LLC increased its holdings in General Dynamics Corporation by 20.6%, now owning 10,522 shares valued at approximately $3,069,000.
• Analysts have raised their price targets for General Dynamics, with UBS Group increasing their target from $309 to $333, while JPMorgan Chase & Co. set a new target at $345.
• The company declared a quarterly dividend of $1.50 per share, scheduled for payment on November 14th, representing an annualized dividend yield of 1.8%.

Fifth Third Wealth Advisors LLC raised its position in General Dynamics Corporation (NYSE:GD - Free Report) by 20.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,522 shares of the aerospace company's stock after buying an additional 1,798 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in General Dynamics were worth $3,069,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Inlight Wealth Management LLC purchased a new stake in General Dynamics in the first quarter valued at approximately $26,000. Smallwood Wealth Investment Management LLC purchased a new stake in General Dynamics in the first quarter valued at approximately $27,000. Quarry LP lifted its stake in General Dynamics by 783.3% in the first quarter. Quarry LP now owns 106 shares of the aerospace company's stock valued at $29,000 after buying an additional 94 shares during the last quarter. Abound Financial LLC purchased a new stake in General Dynamics in the first quarter valued at approximately $32,000. Finally, Nova Wealth Management Inc. purchased a new stake in General Dynamics in the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on GD shares. UBS Group upped their price target on General Dynamics from $309.00 to $333.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Sanford C. Bernstein set a $314.00 price target on General Dynamics and gave the stock a "market perform" rating in a research note on Monday, July 14th. TD Cowen upped their price target on General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $400.00 price target on shares of General Dynamics in a research note on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $319.00.

General Dynamics Trading Down 2.8%

Shares of GD stock opened at $333.03 on Friday. The business's fifty day moving average price is $324.93 and its 200 day moving average price is $296.76. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $347.37. The firm has a market capitalization of $89.58 billion, a PE ratio of 22.35, a P/E/G ratio of 2.10 and a beta of 0.47. 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 quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share 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 firm had revenue of $13.04 billion for the quarter, compared to analyst estimates of $12.13 billion. During the same quarter in the prior year, the company posted $3.26 earnings per share. General Dynamics's quarterly 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. As a group, sell-side analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company 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 $1.50 dividend. The ex-dividend date is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. General Dynamics's dividend payout ratio (DPR) is currently 40.27%.

Insider Buying and Selling at General Dynamics

In other news, VP Christopher J. Brady sold 8,150 shares of General Dynamics stock in a transaction on Monday, August 25th. The stock was sold at an average price of $321.18, for a total transaction 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 $7,328,685.24. The trade was a 26.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mark Lagrand Burns sold 43,860 shares of General Dynamics stock in a transaction on Monday, July 28th. The stock was sold at an average price of $312.28, for a total value of $13,696,600.80. Following the transaction, the executive vice president directly owned 39,875 shares of the company's stock, valued at $12,452,165. This trade represents a 52.38% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 275,020 shares of company stock worth $86,414,503. Insiders own 1.50% of the company's stock.

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.

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