General Dynamics Corporation $GD Shares Acquired by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management increased its stake in General Dynamics Corporation by 15.9%, owning a total of 13,119 shares valued at approximately $3.8 million.
• Brokerages have recently issued favorable ratings for General Dynamics, with Deutsche Bank setting a price target of $400 and upgrading the stock to a buy rating.
• The company declared a quarterly dividend of $1.50 per share, yielding around 1.8%, which will be distributed to shareholders on November 14th.

Ritholtz Wealth Management raised its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 15.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,119 shares of the aerospace company's stock after buying an additional 1,797 shares during the quarter. Ritholtz Wealth Management's holdings in General Dynamics were worth $3,826,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of GD. Inlight Wealth Management LLC acquired a new stake in General Dynamics during the 1st quarter valued at $26,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of General Dynamics during the first quarter valued at $27,000. Quarry LP boosted its stake in shares of General Dynamics by 783.3% during the first quarter. Quarry LP now owns 106 shares of the aerospace company's stock valued at $29,000 after acquiring an additional 94 shares during the last quarter. Abound Financial LLC acquired a new stake in shares of General Dynamics during the 1st quarter worth about $32,000. Finally, Nova Wealth Management Inc. acquired a new stake in shares of General Dynamics during the 1st quarter worth about $33,000. Institutional investors and hedge funds own 86.14% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GD. Cowen restated a "buy" rating on shares of General Dynamics in a research report on Wednesday, June 25th. Wall Street Zen upgraded General Dynamics from a "hold" rating to a "buy" rating in a report on Saturday, October 4th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $400.00 price objective on shares of General Dynamics in a report on Wednesday, October 8th. Seaport Res Ptn raised General Dynamics from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 29th. Finally, Wolfe Research raised their price target on General Dynamics from $360.00 to $400.00 and gave the stock an "outperform" rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $327.44.

General Dynamics Price Performance

Shares of General Dynamics stock opened at $332.21 on Thursday. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $347.37. The stock has a market capitalization of $89.36 billion, a P/E ratio of 22.30, a PEG ratio of 2.06 and a beta of 0.47. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. The business's fifty day moving average price is $326.15 and its 200 day moving average price is $298.09.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.27. The business had revenue of $13.04 billion for the quarter, compared to analyst estimates of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The company's revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. As a group, research analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics's payout ratio is 40.27%.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, EVP Mark Lagrand Burns sold 43,860 shares of the business's stock in a transaction dated 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 transaction, the executive vice president owned 39,875 shares in the company, valued at $12,452,165. The trade was a 52.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP William A. Moss sold 17,700 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $316.40, for a total value of $5,600,280.00. Following the transaction, the vice president owned 16,627 shares in the company, valued at approximately $5,260,782.80. This represents a 51.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 275,020 shares of company stock worth $86,414,503. Corporate insiders own 1.50% of the company's stock.

About General Dynamics

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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