MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 135,731 Shares of General Dynamics Corporation $GD

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in General Dynamics Corporation by 55.7%, owning 379,461 shares worth $103.43 million as of its latest SEC filing.
• CEO Phebe N. Novakovic and VP William A. Moss sold significant portions of their shares, with Novakovic selling 129,090 shares for over $40 million.
• General Dynamics declared a quarterly dividend of $1.50, representing an annualized dividend of $6.00, with a yield of 1.9% and a payout ratio of 40.27%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 55.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 379,461 shares of the aerospace company's stock after purchasing an additional 135,731 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.14% of General Dynamics worth $103,433,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GD. GAMMA Investing LLC raised its position in shares of General Dynamics by 34,578.2% in the 1st quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company's stock worth $339,253,000 after buying an additional 1,241,011 shares during the period. Nuveen LLC purchased a new position in shares of General Dynamics in the 1st quarter worth $272,464,000. Ameriprise Financial Inc. raised its position in General Dynamics by 34.8% in the first quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company's stock valued at $749,252,000 after purchasing an additional 709,782 shares during the period. Deutsche Bank AG raised its position in General Dynamics by 120.9% in the first quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company's stock valued at $343,866,000 after purchasing an additional 690,349 shares during the period. Finally, Voloridge Investment Management LLC raised its position in General Dynamics by 6,387.2% in the fourth quarter. Voloridge Investment Management LLC now owns 401,236 shares of the aerospace company's stock valued at $105,722,000 after purchasing an additional 395,051 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of NYSE GD traded up $1.05 during trading on Wednesday, hitting $322.38. The company had a trading volume of 258,993 shares, compared to its average volume of 1,388,439. The company has a market cap of $86.72 billion, a P/E ratio of 21.63, a PEG ratio of 1.98 and a beta of 0.50. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $326.02. The business's 50-day moving average is $311.82 and its 200 day moving average is $285.59. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36.

General Dynamics (NYSE:GD - Get Free Report) last posted 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. The company had revenue of $13.04 billion for 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 revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.26 earnings per share. 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 Dividend Announcement

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

Insider Activity at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 129,090 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the sale, the chief executive officer directly owned 769,607 shares of the company's stock, valued at $241,325,666.99. The trade was a 14.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $315.20, for a total transaction of $10,634,848.00. Following the sale, the executive vice president directly owned 45,192 shares in the company, valued at approximately $14,244,518.40. This trade represents a 42.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 458,260 shares of company stock worth $138,125,545. Insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on GD. Barclays raised their price objective on General Dynamics from $285.00 to $350.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. TD Cowen lifted their price objective on shares of General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Susquehanna lifted their price objective on shares of General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. lifted their price objective on shares of General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Citigroup lifted their price objective on shares of General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Nine investment 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. According to MarketBeat.com, General Dynamics presently has a consensus rating of "Hold" and a consensus price target of $315.78.

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.