General Dynamics Corporation $GD Shares Acquired by Perpetual Ltd

Key Points

• Perpetual Ltd increased its stake in General Dynamics Corporation by 54.8% during the second quarter, bringing its total holdings to $660,000.
• CEO Phebe N. Novakovic sold 129,090 shares of General Dynamics stock in August, resulting in a 14.36% decrease in her ownership.
• The company announced a $1.50 quarterly dividend, with an ex-dividend date set for October 10th, reflecting an annualized dividend yield of 1.9%.

Perpetual Ltd boosted its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 54.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,263 shares of the aerospace company's stock after purchasing an additional 801 shares during the quarter. Perpetual Ltd's holdings in General Dynamics were worth $660,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Principal Securities Inc. grew its stake in General Dynamics by 0.5% during the 1st quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company's stock worth $2,161,000 after buying an additional 37 shares during the last quarter. Sharpepoint LLC increased its stake in General Dynamics by 4.2% in the first quarter. Sharpepoint LLC now owns 917 shares of the aerospace company's stock valued at $249,000 after purchasing an additional 37 shares during the period. United Asset Strategies Inc. raised its holdings in shares of General Dynamics by 1.2% in the first quarter. United Asset Strategies Inc. now owns 3,140 shares of the aerospace company's stock valued at $856,000 after buying an additional 37 shares during the last quarter. 1858 Wealth Management LLC boosted its stake in shares of General Dynamics by 1.2% during the first quarter. 1858 Wealth Management LLC now owns 3,224 shares of the aerospace company's stock worth $879,000 after buying an additional 38 shares during the period. Finally, Keystone Financial Services grew its holdings in shares of General Dynamics by 1.6% during the first quarter. Keystone Financial Services now owns 2,421 shares of the aerospace company's stock worth $660,000 after buying an additional 38 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

Insider Transactions at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 129,090 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the completion of the sale, the chief executive officer owned 769,607 shares of the company's stock, valued at approximately $241,325,666.99. The trade was a 14.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William A. Moss sold 17,700 shares of General Dynamics stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $316.40, for a total transaction of $5,600,280.00. Following the transaction, the vice president directly owned 16,627 shares in the company, valued at approximately $5,260,782.80. This trade represents a 51.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 275,020 shares of company stock valued at $86,414,503 in the last ninety days. Company insiders own 1.50% of the company's stock.

General Dynamics Stock Performance

NYSE GD opened at $324.10 on Monday. The business's 50-day moving average price is $316.37 and its 200 day moving average price is $289.85. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $330.18. The company has a market capitalization of $87.18 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 1.99 and a beta of 0.50.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, beating analysts' consensus estimates of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The company 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 company posted $3.26 EPS. The company'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. On average, research analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

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 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 is presently 40.27%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. UBS Group lifted their target price on General Dynamics from $309.00 to $333.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Susquehanna raised their target price on shares of General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Robert W. Baird boosted their price target on shares of General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Cowen restated a "buy" rating on shares of General Dynamics in a research report on Wednesday, June 25th. Finally, Citigroup boosted their target price on General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock 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.

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