Marotta Asset Management Purchases 4,968 Shares of General Dynamics Corporation $GD

Key Points

• Marotta Asset Management increased its stake in General Dynamics Corporation by 127.9% in Q2, owning 8,851 shares valued at approximately $2.58 million.
• Insider sales included EVP Marguerite Amy Gilliland selling 33,740 shares for around $10.63 million, reducing her position by 42.75%.
• General Dynamics announced a quarterly dividend of $1.50 per share, with an annual yield of 1.8%, payable on November 14th.

Marotta Asset Management lifted its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 127.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,851 shares of the aerospace company's stock after acquiring an additional 4,968 shares during the quarter. Marotta Asset Management's holdings in General Dynamics were worth $2,581,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. LVM Capital Management Ltd. MI acquired a new stake in shares of General Dynamics in the second quarter valued at about $211,000. Stonebridge Capital Management Inc. increased its position in General Dynamics by 0.6% during the second quarter. Stonebridge Capital Management Inc. now owns 25,093 shares of the aerospace company's stock worth $7,319,000 after buying an additional 145 shares during the last quarter. Kera Capital Partners Inc. acquired a new position in General Dynamics during the second quarter worth approximately $322,000. AG2R LA Mondiale Gestion D Actifs acquired a new position in General Dynamics during the first quarter worth approximately $2,488,000. Finally, Bontempo Ohly Capital Mgmt LLC increased its position in General Dynamics by 5.4% during the first quarter. Bontempo Ohly Capital Mgmt LLC now owns 16,381 shares of the aerospace company's stock worth $4,465,000 after buying an additional 838 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

Insider Activity

In other General Dynamics news, Director Mark Malcolm sold 1,210 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $319.04, for a total transaction of $386,038.40. Following the completion of the sale, the director directly owned 10,186 shares in the company, valued at $3,249,741.44. This represents a 10.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Phebe N. Novakovic sold 129,090 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $313.57, for a total value of $40,478,751.30. Following the completion of the transaction, the chief executive officer owned 769,607 shares of the company's stock, valued at $241,325,666.99. The trade was a 14.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 271,800 shares of company stock valued at $85,353,674. Corporate insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

GD has been the topic of a number of recent analyst reports. Wolfe Research raised General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price target on the stock in a research report on Thursday, July 24th. Robert W. Baird upped their target price on General Dynamics from $283.00 to $350.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Citigroup upped their target price on General Dynamics from $348.00 to $368.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft raised General Dynamics from a "hold" rating to a "buy" rating and upped their target price for the company from $298.00 to $342.00 in a research report on Tuesday, July 8th. Finally, TD Cowen upped their target price on General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. 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 company. Based on data from MarketBeat.com, General Dynamics has a consensus rating of "Hold" and an average target price of $315.78.

General Dynamics Price Performance

Shares of GD stock traded up $0.56 during trading on Monday, hitting $326.71. The company had a trading volume of 694,835 shares, compared to its average volume of 756,752. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. The firm has a market capitalization of $87.88 billion, a P/E ratio of 21.93, a price-to-earnings-growth ratio of 2.00 and a beta of 0.50. The stock's 50-day moving average price is $314.39 and its 200 day moving average price is $287.97. General Dynamics Corporation has a one year low of $239.20 and a one year high of $330.18.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, beating 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 business had revenue of $13.04 billion during the quarter, compared to analysts' expectations of $12.13 billion. During the same period in the previous year, the company posted $3.26 earnings per share. The firm'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. Equities analysts expect that General Dynamics Corporation will post 14.83 EPS for the current fiscal 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 paid a dividend of $1.50 per share. The ex-dividend date is Friday, October 10th. This represents a $6.00 annualized dividend and a yield of 1.8%. General Dynamics's dividend payout ratio is presently 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.