General Dynamics Corporation $GD Shares Purchased by Federation des caisses Desjardins du Quebec

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in General Dynamics by 43.2% during the first quarter, owning 7,566 shares valued at $2,062,000.
• General Dynamics reported $3.74 earnings per share for the last quarter, surpassing expectations, with an 8.9% increase in revenue year-over-year.
• The company announced a quarterly dividend of $1.50 to be paid on November 14th, representing a 1.9% dividend yield on an annual basis.

Federation des caisses Desjardins du Quebec raised its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 43.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,566 shares of the aerospace company's stock after purchasing an additional 2,284 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in General Dynamics were worth $2,062,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Retirement Guys Formula LLC purchased a new position in shares of General Dynamics in the 1st quarter valued at approximately $1,692,000. Advisory Resource Group grew its stake in shares of General Dynamics by 7.1% in the 1st quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company's stock valued at $5,234,000 after purchasing an additional 1,276 shares during the last quarter. Mission Wealth Management LP grew its stake in shares of General Dynamics by 18.9% in the 1st quarter. Mission Wealth Management LP now owns 16,144 shares of the aerospace company's stock valued at $4,401,000 after purchasing an additional 2,568 shares during the last quarter. Matrix Asset Advisors Inc. NY grew its stake in shares of General Dynamics by 31.6% in the 1st quarter. Matrix Asset Advisors Inc. NY now owns 33,644 shares of the aerospace company's stock valued at $9,171,000 after purchasing an additional 8,073 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. boosted its stake in shares of General Dynamics by 11.5% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 16,522 shares of the aerospace company's stock valued at $4,504,000 after buying an additional 1,704 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Price Performance

GD traded down $1.70 during trading on Friday, reaching $327.92. 88,976 shares of the stock were exchanged, compared to its average volume of 1,380,368. The business's 50 day moving average price is $313.11 and its two-hundred day moving average price is $286.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. The company has a market capitalization of $88.21 billion, a price-to-earnings ratio of 22.02, a P/E/G ratio of 1.98 and a beta of 0.50. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $330.18.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $12.13 billion. During the same period in the prior year, the business earned $3.26 earnings per share. The business'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. As a group, equities research analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently disclosed 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. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, October 10th. General Dynamics's dividend payout ratio is currently 40.27%.

Insiders Place Their Bets

In other news, EVP Marguerite Amy Gilliland sold 33,740 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $315.20, for a total value of $10,634,848.00. Following the sale, the executive vice president directly owned 45,192 shares in the company, valued at $14,244,518.40. This represents a 42.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Malcolm sold 1,210 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $319.04, for a total value of $386,038.40. Following the completion of the sale, the director owned 10,186 shares in the company, valued at $3,249,741.44. This represents a 10.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 279,439 shares of company stock valued at $87,495,956. Insiders own 1.50% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on GD shares. Cowen restated a "buy" rating on shares of General Dynamics in a research note on Wednesday, June 25th. UBS Group lifted their price target on General Dynamics from $309.00 to $333.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Barclays lifted their price target on General Dynamics from $285.00 to $350.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Susquehanna lifted their price target on General Dynamics from $315.00 to $365.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Finally, Jefferies Financial Group set a $325.00 price target on General Dynamics and gave the company a "hold" rating in a research note on Wednesday, July 9th. Nine analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price 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.