Freestone Grove Partners LP Buys New Holdings in General Dynamics Corporation $GD

Key Points

• Freestone Grove Partners LP purchased 189,130 General Dynamics shares in the second quarter, valued at approximately $67 million and representing 0.07% of the company. Institutional investors collectively own 86.14% of GD.
• General Dynamics reported a quarterly earnings and revenue beat, with EPS of $4.24 versus the $3.96 consensus and revenue of $14.09 billion versus $13.52 billion expected; revenue increased 8.1% year over year.
• The company declared a quarterly dividend of $1.59 per share, equivalent to an annualized $6.36 payout and a 1.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $410.89, above the reported share price of $382.08.

Freestone Grove Partners LP purchased a new position in shares of General Dynamics Corporation (NYSE:GD - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 189,130 shares of the aerospace company's stock, valued at approximately $66,997,000. Freestone Grove Partners LP owned 0.07% of General Dynamics as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC raised its holdings in General Dynamics by 1,725.0% during the first quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company's stock worth $25,000 after buying an additional 69 shares during the last quarter. Paladin Partners LLC acquired a new position in shares of General Dynamics during the second quarter valued at about $30,000. Scarborough Advisors LLC bought a new stake in shares of General Dynamics during the first quarter worth about $29,000. Wilkerson Advisory Group LLC raised its holdings in shares of General Dynamics by 79.6% in the 1st quarter. Wilkerson Advisory Group LLC now owns 88 shares of the aerospace company's stock worth $30,000 after acquiring an additional 39 shares during the last quarter. Finally, Motiv8 Investments LLC acquired a new stake in shares of General Dynamics in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 86.14% of the company's stock.

General Dynamics Trading Up 1.5%

Shares of GD stock opened at $382.08 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.96 and a current ratio of 1.44. The company has a market capitalization of $103.38 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 2.18 and a beta of 0.33. General Dynamics Corporation has a 52-week low of $306.77 and a 52-week high of $400.00. The company has a 50-day simple moving average of $375.27 and a two-hundred day simple moving average of $356.46.

General Dynamics (NYSE:GD - Get Free Report) last posted its earnings results on Wednesday, July 29th. The aerospace company reported $4.24 EPS for the quarter, topping the consensus estimate of $3.96 by $0.28. General Dynamics had a net margin of 8.18% and a return on equity of 17.43%. The firm had revenue of $14.09 billion for the quarter, compared to analysts' expectations of $13.52 billion. During the same quarter last year, the firm earned $3.74 EPS. The company's quarterly revenue was up 8.1% compared to the same quarter last year. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. Research analysts anticipate that General Dynamics Corporation will post 16.97 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 9th will be given a dividend of $1.59 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $6.36 annualized dividend and a dividend yield of 1.7%. General Dynamics's dividend payout ratio (DPR) is currently 38.80%.

Insider Activity

In other news, CEO Phebe N. Novakovic sold 51,568 shares of General Dynamics stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $382.58, for a total transaction of $19,728,885.44. Following the sale, the chief executive officer directly owned 766,457 shares in the company, valued at $293,231,119.06. The trade was a 6.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark Malcolm sold 5,480 shares of the business's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the completion of the transaction, the director directly owned 10,643 shares in the company, valued at $3,884,695. This trade represents a 33.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 100,228 shares of company stock valued at $38,052,853 in the last ninety days. 1.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

GD has been the subject of a number of analyst reports. Citigroup lifted their price target on General Dynamics from $364.00 to $404.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. Susquehanna increased their price objective on General Dynamics from $420.00 to $455.00 and gave the stock a "positive" rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. lifted their target price on General Dynamics from $385.00 to $400.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Wall Street Zen downgraded General Dynamics from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 1st. Finally, TD Cowen increased their price target on General Dynamics from $390.00 to $420.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, General Dynamics presently has an average rating of "Moderate Buy" and an average target price of $410.89.

General Dynamics Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.

Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Corporation (NYSE:GD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source