Norinchukin Bank The Boosts Stock Position in General Dynamics Corporation $GD

Key Points

• Norinchukin Bank increased its stake in General Dynamics Corporation by 14.2% during the first quarter, now holding shares worth approximately $3.645 million.
• The company's most recent quarterly earnings showed a EPS of $3.74, surpassing expectations, alongside an 8.9% year-over-year revenue increase.
• General Dynamics announced a quarterly dividend of $1.50 per share, with a yield of 1.9% and a payout ratio of 40.27%.

Norinchukin Bank The lifted its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 14.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,373 shares of the aerospace company's stock after buying an additional 1,659 shares during the period. Norinchukin Bank The's holdings in General Dynamics were worth $3,645,000 at the end of the most recent quarter.

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

General Dynamics Trading Up 0.6%

Shares of NYSE:GD traded up $1.82 during midday trading on Wednesday, reaching $324.00. 279,437 shares of the company's stock were exchanged, compared to its average volume of 1,420,675. The stock has a market cap of $87.15 billion, a price-to-earnings ratio of 21.75, a P/E/G ratio of 1.96 and a beta of 0.48. 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 firm's 50 day simple moving average is $304.19 and its two-hundred day simple moving average is $280.27. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $324.71.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 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 period in the previous year, the company posted $3.26 earnings per share. The business's revenue for the quarter 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 disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics's dividend payout ratio is presently 40.27%.

Insider Activity

In related news, EVP Mark Lagrand Burns sold 43,860 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Phebe N. Novakovic sold 129,090 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $313.57, for a total value of $40,478,751.30. Following the completion of the transaction, the chief executive officer owned 769,607 shares of the company's stock, valued at $241,325,666.99. The trade was a 14.36% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 450,110 shares of company stock valued at $135,507,928. 1.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on GD. Citigroup lifted their price target on shares of General Dynamics from $348.00 to $368.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Wolfe Research upgraded shares of General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price target on the stock in a research note on Thursday, July 24th. Sanford C. Bernstein set a $314.00 price target on shares of General Dynamics and gave the stock a "market perform" rating in a report on Monday, July 14th. Deutsche Bank Aktiengesellschaft raised shares of General Dynamics from a "hold" rating to a "buy" rating and increased their price target for the company from $298.00 to $342.00 in a research report on Tuesday, July 8th. Finally, Barclays lifted their price target on shares of General Dynamics from $285.00 to $350.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Nine analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, General Dynamics currently has a consensus rating of "Hold" and a consensus 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.