Vident Advisory LLC Raises Stock Holdings in General Dynamics Corporation $GD

Key Points

• Vident Advisory LLC significantly increased its position in General Dynamics Corporation by 183.1%, acquiring 169,120 additional shares during the first quarter.
• General Dynamics recently reported earnings per share (EPS) of $3.74 for the last quarter, beating consensus estimates, with revenue increasing 8.9% year-over-year.
• The company announced a quarterly dividend of $1.50 per share, providing an annualized yield of 1.8%, to be paid on November 14th.

Vident Advisory LLC increased its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 183.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 261,484 shares of the aerospace company's stock after buying an additional 169,120 shares during the period. General Dynamics accounts for about 1.0% of Vident Advisory LLC's portfolio, making the stock its 18th largest holding. Vident Advisory LLC owned 0.10% of General Dynamics worth $71,276,000 as of its most recent filing with the SEC.

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

Insider Activity

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of General Dynamics stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the transaction, the chief executive officer directly owned 769,607 shares of the company's stock, valued at approximately $217,898,829.91. This trade represents a 18.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Lagrand Burns sold 43,860 shares of General Dynamics 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 transaction, the executive vice president directly owned 39,875 shares in the company, valued at approximately $12,452,165. The trade was a 52.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 458,260 shares of company stock valued at $138,125,545. 1.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GD has been the topic of a number of analyst reports. Citigroup increased their target price on shares of General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Cowen restated a "buy" rating on shares of General Dynamics in a research report on Wednesday, June 25th. Deutsche Bank Aktiengesellschaft upgraded shares of General Dynamics from a "hold" rating to a "buy" rating and boosted their target price for the company from $298.00 to $342.00 in a research report on Tuesday, July 8th. Sanford C. Bernstein set a $314.00 target price on shares of General Dynamics and gave the company a "market perform" rating in a research report on Monday, July 14th. Finally, Barclays boosted their target price 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 research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $315.78.

General Dynamics Stock Down 0.1%

Shares of GD stock traded down $0.47 on Tuesday, hitting $324.10. The stock had a trading volume of 874,194 shares, compared to its average volume of 1,412,616. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $326.02. The business has a 50 day moving average of $307.82 and a 200 day moving average of $282.56. 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 stock has a market cap of $87.18 billion, a price-to-earnings 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $0.27. The business had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The firm's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the company posted $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. As a group, analysts expect that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently announced 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 1.9%. The ex-dividend date is Friday, October 10th. General Dynamics's dividend payout ratio (DPR) is currently 40.27%.

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.