General Dynamics Corporation $GD Stock Holdings Lowered by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC cut its General Dynamics stake by 25% in the first quarter, selling 2,762 shares and leaving it with 8,277 shares worth about $2.84 million.
• Wall Street remains constructive on GD, with analysts assigning a consensus “Moderate Buy” rating and an average price target of $391.15; several firms recently raised or adjusted their targets, including Jefferies at $440 and Bank of America at $415.
• General Dynamics reported solid quarterly results and boosted its dividend outlook, topping earnings and revenue estimates for the quarter and declaring a $1.59 quarterly dividend, equal to a 1.6% yield.

NewEdge Wealth LLC lessened its position in General Dynamics Corporation (NYSE:GD - Free Report) by 25.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,277 shares of the aerospace company's stock after selling 2,762 shares during the period. NewEdge Wealth LLC's holdings in General Dynamics were worth $2,841,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Whipplewood Advisors LLC increased its stake in shares of General Dynamics by 1,725.0% in the first quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company's stock valued at $25,000 after purchasing an additional 69 shares during the period. Steph & Co. boosted its position in shares of General Dynamics by 65.2% during the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company's stock worth $26,000 after buying an additional 30 shares during the period. Scarborough Advisors LLC bought a new position in General Dynamics in the 1st quarter worth approximately $29,000. Wilkerson Advisory Group LLC grew its holdings in General Dynamics by 79.6% in the 1st quarter. Wilkerson Advisory Group LLC now owns 88 shares of the aerospace company's stock worth $30,000 after buying an additional 39 shares in the last quarter. Finally, Center for Financial Planning Inc. increased its position in General Dynamics by 220.7% in the 4th quarter. Center for Financial Planning Inc. now owns 93 shares of the aerospace company's stock valued at $31,000 after acquiring an additional 64 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wall Street Zen raised General Dynamics from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 13th. BNP Paribas Exane decreased their price target on General Dynamics from $430.00 to $390.00 and set an "outperform" rating for the company in a research note on Thursday, April 30th. Jefferies Financial Group raised their price target on General Dynamics from $400.00 to $440.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Bank of America upped their price objective on shares of General Dynamics from $400.00 to $415.00 and gave the stock a "buy" rating in a report on Monday, July 6th. Finally, DA Davidson decreased their target price on shares of General Dynamics from $384.00 to $375.00 in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $391.15.

Insider Activity

In related news, EVP Mark Lagrand Burns sold 36,480 shares of General Dynamics stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the transaction, the executive vice president directly owned 38,975 shares of the company's stock, valued at $13,457,677.75. The trade was a 48.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Malcolm sold 5,480 shares of the business's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the completion of the sale, the director owned 10,643 shares in the company, valued at approximately $3,884,695. This trade represents a 33.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 78,190 shares of company stock valued at $27,041,022 in the last ninety days. Company insiders own 1.40% of the company's stock.

General Dynamics Stock Performance

GD opened at $386.51 on Friday. The company has a market capitalization of $104.52 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 2.30 and a beta of 0.34. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90. General Dynamics Corporation has a 1-year low of $306.03 and a 1-year high of $388.12. The business has a 50 day moving average price of $356.19 and a two-hundred day moving average price of $351.77.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $12.70 billion. During the same period last year, the company posted $3.66 EPS. The firm's quarterly revenue was up 10.3% on a year-over-year basis. Research analysts predict that General Dynamics Corporation will post 16.66 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be paid a dividend of $1.59 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $6.36 annualized dividend and a yield of 1.6%. General Dynamics's dividend payout ratio (DPR) is currently 40.03%.

Key Headlines Impacting General Dynamics

Here are the key news stories impacting General Dynamics this week:

• Positive Sentiment: GD has hit a 52-week high, reflecting strong momentum and investor confidence in the defense contractor’s outlook. General Dynamics Corporation (GD) Hit a 52 Week High, Can the Run Continue?
• Positive Sentiment: Analysts are focusing on GD’s upcoming Q2 results, with attention on a record backlog and improving defense operations, which could support the stock if management delivers strong numbers and positive commentary on submarines and Gulfstream. General Dynamics to Release Q2 Earnings: Here's What to Expect
• Positive Sentiment: Recent investor sentiment has also been helped by broader strength in defense stocks, with peers posting solid results and raising guidance, which has lifted expectations for GD ahead of its July 29 earnings release. Why General Dynamics (GD) Stock Is Up Today
• Neutral Sentiment: Wall Street is also watching GD’s Q2 estimates and key operating metrics closely, suggesting the market may be waiting for confirmation that recent strength is sustainable rather than purely speculative. General Dynamics (GD) Q2 Earnings on the Horizon: Analysts' Insights on Key Performance Measures
• Neutral Sentiment: One article compared GD’s value profile with GE Aerospace, reinforcing that investors still see GD as a large-cap defense name with valuation appeal, but not necessarily a fresh catalyst by itself. GD vs. GE: Which Stock Is the Better Value Option?

General Dynamics Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.

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