Flputnam Investment Management Co. Raises Stock Holdings in General Dynamics Corporation $GD

Key Points

• Flputnam Investment Management Co. significantly increased its stake in General Dynamics Corporation by 503.1%, owning a total of 9,420 shares valued at approximately $2,568,000 as of the last quarter.
• Insider activity included CEO Phebe N. Novakovic selling 129,090 shares for over $40 million, representing a 14.36% decrease in her position.
• General Dynamics reported earnings of $3.74 per share, exceeding expectations, with a revenue of $13.04 billion for the quarter, a year-over-year increase of 8.9%.

Flputnam Investment Management Co. raised its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 503.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,420 shares of the aerospace company's stock after buying an additional 7,858 shares during the period. Flputnam Investment Management Co.'s holdings in General Dynamics were worth $2,568,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GD. Rialto Wealth Management LLC boosted its position in shares of General Dynamics by 213.8% during the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after buying an additional 62 shares during the period. Inlight Wealth Management LLC purchased a new position in shares of General Dynamics during the first quarter valued at approximately $26,000. Copia Wealth Management purchased a new position in shares of General Dynamics during the fourth quarter valued at approximately $27,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of General Dynamics during the first quarter valued at approximately $27,000. Finally, Heck Capital Advisors LLC bought a new position in General Dynamics in the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Robert W. Baird increased their price objective on General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. TD Cowen increased their price objective on General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Deutsche Bank Aktiengesellschaft raised General Dynamics from a "hold" rating to a "buy" rating and increased their price objective for the stock from $298.00 to $342.00 in a research note on Tuesday, July 8th. Barclays increased their price objective on General Dynamics from $285.00 to $350.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Finally, Sanford C. Bernstein set a $314.00 price objective on General Dynamics and gave the stock a "market perform" rating in a research note on Monday, July 14th. 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, General Dynamics presently has an average rating of "Hold" and an average target price of $315.78.

General Dynamics Stock Up 0.1%

NYSE GD traded up $0.36 during midday trading on Friday, hitting $322.80. 860,924 shares of the company traded hands, compared to its average volume of 815,280. 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 company has a market cap of $86.83 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 1.98 and a beta of 0.50. The company's 50-day simple moving average is $310.66 and its 200-day simple moving average is $284.23. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $326.02.

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 for the quarter, topping analysts' consensus estimates of $3.47 by $0.27. The firm had revenue of $13.04 billion during the quarter, compared to analysts' expectations of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The business's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. As a group, equities research analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The business 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. The ex-dividend date is Friday, October 10th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. General Dynamics's dividend payout ratio is 40.27%.

Insider Activity

In other news, CEO Phebe N. Novakovic sold 178,821 shares of the company's stock in a transaction dated 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 owned 769,607 shares in the company, valued at $217,898,829.91. This represents a 18.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark Lagrand Burns sold 43,860 shares of the company's stock in a transaction dated Monday, July 28th. The shares were 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 approximately $12,452,165. This trade represents a 52.38% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 458,260 shares of company stock valued at $138,125,545. 1.50% of the stock is owned by company insiders.

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.