Gold Investment Management Ltd. Buys 774 Shares of General Dynamics Corporation $GD

Key Points

• Gold Investment Management Ltd. increased its stake in General Dynamics by 14.3%, acquiring an additional 774 shares during the second quarter, bringing its total holdings to 6,168 shares valued at approximately $1.8 million.
• General Dynamics reported an earnings per share (EPS) of $3.74 for the most recent quarter, surpassing analyst expectations and indicating an 8.9% year-over-year revenue growth.
• The company announced a quarterly dividend of $1.50 per share, contributing to an annual yield of 1.8%, with the payment scheduled for November 14th to shareholders recorded by October 10th.

Gold Investment Management Ltd. lifted its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 14.3% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,168 shares of the aerospace company's stock after buying an additional 774 shares during the quarter. Gold Investment Management Ltd.'s holdings in General Dynamics were worth $1,807,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GD. Nuveen LLC bought a new position in General Dynamics during the 1st quarter valued at about $272,464,000. Ameriprise Financial Inc. raised its holdings in shares of General Dynamics by 34.8% in the first quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company's stock worth $749,252,000 after buying an additional 709,782 shares during the last quarter. Deutsche Bank AG increased its stake in shares of General Dynamics by 120.9% in the first quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company's stock worth $343,866,000 after acquiring an additional 690,349 shares during the period. JPMorgan Chase & Co. grew its position in General Dynamics by 4.9% during the first quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company's stock valued at $1,499,819,000 after buying an additional 256,687 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of General Dynamics by 1,488.8% in the first quarter. SG Americas Securities LLC now owns 221,484 shares of the aerospace company's stock valued at $60,372,000 after purchasing an additional 207,544 shares during the period. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Trading Down 0.0%

Shares of GD stock opened at $340.96 on Thursday. The firm has a market cap of $91.71 billion, a P/E ratio of 22.88, a PEG ratio of 2.09 and a beta of 0.47. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $341.19. 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 firm's 50-day simple moving average is $320.78 and its 200-day simple moving average is $293.08.

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

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be issued a $1.50 dividend. 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 currently 40.27%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of General Dynamics from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. TD Cowen boosted their price objective on shares of General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Seaport Res Ptn upgraded shares of General Dynamics from a "hold" rating to a "strong-buy" rating in a research report on Monday. Deutsche Bank Aktiengesellschaft upgraded shares of General Dynamics from a "hold" rating to a "buy" rating and upped their price objective for the stock from $298.00 to $342.00 in a research report on Tuesday, July 8th. Finally, Robert W. Baird upped their price objective on shares of General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $315.78.

Insider Transactions at General Dynamics

In related news, EVP Marguerite Amy Gilliland sold 33,740 shares of General Dynamics stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $315.20, for a total value of $10,634,848.00. Following the transaction, the executive vice president owned 45,192 shares of the company's stock, valued at approximately $14,244,518.40. This trade represents a 42.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP William A. Moss sold 17,700 shares of General Dynamics 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 transaction, the vice president directly owned 16,627 shares in the company, 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. Insiders have sold a total of 275,020 shares of company stock valued at $86,414,503 over the last quarter. Insiders own 1.50% of the company's stock.

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.

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