MFG Wealth Management Inc. Invests $2.58 Million in General Dynamics Corporation $GD

Key Points

• MFG Wealth Management Inc. has invested approximately $2.58 million in General Dynamics Corporation (NYSE: GD) by purchasing 8,861 shares, making it the firm's 24th largest holding.
• General Dynamics reported a quarterly EPS of $3.74, surpassing analysts' estimates of $3.47, with revenues of $13.04 billion that exceeded expectations by a significant margin.
• The company also declared a quarterly dividend of $1.50 per share, reflecting a 1.8% yield, with an ex-dividend date set for October 10th.

MFG Wealth Management Inc. purchased a new position in shares of General Dynamics Corporation (NYSE:GD - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,861 shares of the aerospace company's stock, valued at approximately $2,584,000. General Dynamics comprises 2.2% of MFG Wealth Management Inc.'s investment portfolio, making the stock its 24th biggest holding.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of General Dynamics by 34,578.2% during the 1st quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company's stock worth $339,253,000 after purchasing an additional 1,241,011 shares during the period. Nuveen LLC acquired a new position in shares of General Dynamics during the 1st quarter worth $272,464,000. Ameriprise Financial Inc. grew its stake in shares of General Dynamics by 34.8% during the 1st quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company's stock worth $749,252,000 after purchasing an additional 709,782 shares during the period. Deutsche Bank AG grew its stake in shares of General Dynamics by 120.9% during the 1st quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company's stock worth $343,866,000 after purchasing an additional 690,349 shares during the period. Finally, Voloridge Investment Management LLC grew its stake in shares of General Dynamics by 6,387.2% during the 4th quarter. Voloridge Investment Management LLC now owns 401,236 shares of the aerospace company's stock worth $105,722,000 after purchasing an additional 395,051 shares during the period. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Trading Up 0.2%

General Dynamics stock opened at $326.71 on Tuesday. The stock has a market cap of $87.88 billion, a PE ratio of 21.93, a P/E/G ratio of 2.00 and a beta of 0.50. The stock has a 50-day moving average price of $314.39 and a 200 day moving average price of $287.97. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $330.18. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 EPS 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 firm's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Equities research analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, October 10th. General Dynamics's dividend payout ratio (DPR) is currently 40.27%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. TD Cowen upped their price target on shares of 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 upped their target price for the company from $298.00 to $342.00 in a report on Tuesday, July 8th. Wolfe Research raised General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 target price on the stock in a report on Thursday, July 24th. Sanford C. Bernstein set a $314.00 target price on General Dynamics and gave the company a "market perform" rating in a report on Monday, July 14th. Finally, Susquehanna upped their target price on General Dynamics from $315.00 to $365.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Nine investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, General Dynamics currently has an average rating of "Hold" and an average price target of $315.78.

Insider Activity

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 transaction of $10,634,848.00. Following the completion of the sale, the executive vice president owned 45,192 shares in the company, valued at approximately $14,244,518.40. This trade represents a 42.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Phebe N. Novakovic sold 129,090 shares of General Dynamics 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 sale, the chief executive officer owned 769,607 shares of the company's stock, valued at approximately $241,325,666.99. This represents a 14.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 271,800 shares of company stock worth $85,353,674 in the last quarter. Corporate insiders own 1.50% of the company's stock.

About General Dynamics

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.

Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Corporation (NYSE:GD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.