General Dynamics Corporation $GD Shares Purchased by Brooklyn Investment Group

Key Points

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Brooklyn Investment Group boosted its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 76.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,025 shares of the aerospace company's stock after purchasing an additional 878 shares during the quarter. Brooklyn Investment Group's holdings in General Dynamics were worth $552,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Retirement Guys Formula LLC purchased a new stake in General Dynamics during the first quarter worth $1,692,000. Advisory Resource Group lifted its position in shares of 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 acquiring an additional 1,276 shares in the last quarter. Mission Wealth Management LP lifted its position in shares of General Dynamics by 18.9% in the first quarter. Mission Wealth Management LP now owns 16,144 shares of the aerospace company's stock valued at $4,401,000 after acquiring an additional 2,568 shares in the last quarter. Matrix Asset Advisors Inc. NY lifted its position in shares of 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 acquiring an additional 8,073 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. lifted its position 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 acquiring an additional 1,704 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Phebe N. Novakovic sold 129,090 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 769,607 shares in the company, valued at approximately $241,325,666.99. This trade represents a 14.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP William A. Moss sold 17,700 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $316.40, for a total value of $5,600,280.00. Following the completion of the sale, the vice president owned 16,627 shares of the company's stock, valued at approximately $5,260,782.80. This trade represents a 51.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 448,900 shares of company stock valued at $135,121,890. Company insiders own 1.50% of the company's stock.

General Dynamics Trading Down 0.4%

NYSE:GD traded down $1.1580 on Thursday, hitting $316.3220. 717,450 shares of the stock were exchanged, compared to its average volume of 1,052,458. The stock has a market cap of $85.09 billion, a PE ratio of 21.23, a PEG ratio of 1.95 and a beta of 0.48. 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 stock has a fifty day moving average of $301.82 and a 200-day moving average of $278.78. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $322.50.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, topping 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 company had revenue of $13.04 billion during the quarter, compared to analyst estimates of $12.13 billion. During the same period in the prior year, the firm posted $3.26 earnings per share. The firm'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 analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be paid a $1.50 dividend. The ex-dividend date is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. General Dynamics's dividend payout ratio (DPR) is 40.27%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Citigroup upped their price objective on General Dynamics from $348.00 to $368.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Wolfe Research upgraded General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price objective on the stock in a research report on Thursday, July 24th. Susquehanna increased their target price on General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft upgraded General Dynamics from a "hold" rating to a "buy" rating and increased their target price for the stock from $298.00 to $342.00 in a research report on Tuesday, July 8th. Finally, Sanford C. Bernstein set a $314.00 target price on General Dynamics and gave the stock a "market perform" rating in a research report on Monday, July 14th. Nine research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $315.78.

General Dynamics Company 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.