Mirae Asset Global Investments Co. Ltd. Buys 2,805 Shares of General Dynamics Corporation $GD

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in General Dynamics Corporation by 7.5%, acquiring 2,805 additional shares, bringing its total holdings to 40,239 shares valued at approximately $11.74 million.
• General Dynamics reported a quarterly earnings per share (EPS) of $3.74, exceeding analysts' expectations of $3.47, with revenues reaching $13.04 billion.
• The company declared a quarterly dividend of $1.50 per share, resulting in an annualized dividend of $6.00 and a yield of 1.7%.

Mirae Asset Global Investments Co. Ltd. increased its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 7.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,239 shares of the aerospace company's stock after acquiring an additional 2,805 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in General Dynamics were worth $11,736,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in shares of General Dynamics by 4.9% in the 1st quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company's stock valued at $1,499,819,000 after acquiring an additional 256,687 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of General Dynamics by 34.8% in the 1st quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company's stock valued at $749,252,000 after acquiring an additional 709,782 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of General Dynamics by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,582,388 shares of the aerospace company's stock valued at $431,327,000 after acquiring an additional 5,313 shares in the last quarter. Boston Partners increased its stake in General Dynamics by 7.9% during the 1st quarter. Boston Partners now owns 1,296,497 shares of the aerospace company's stock valued at $353,558,000 after purchasing an additional 94,537 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in General Dynamics by 120.9% during the 1st 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 in the last quarter. Institutional investors own 86.14% of the company's stock.

General Dynamics Price Performance

GD opened at $343.76 on Friday. 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 company has a market capitalization of $92.47 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 2.10 and a beta of 0.47. The firm's fifty day moving average price is $321.91 and its two-hundred day moving average price is $294.30. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $345.22.

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

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors 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 dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics's payout ratio is 40.27%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Sanford C. Bernstein set a $314.00 price target on shares of General Dynamics and gave the company a "market perform" rating in a research note on Monday, July 14th. Citigroup boosted their price target on shares of General Dynamics from $348.00 to $368.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Wolfe Research upgraded shares of General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price target for the company in a research note on Thursday, July 24th. Susquehanna boosted their price target on shares of General Dynamics from $315.00 to $365.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Finally, Robert W. Baird boosted their price target on shares of General Dynamics from $283.00 to $350.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $315.78.

Insider Buying and Selling

In related news, EVP Marguerite Amy Gilliland sold 33,740 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $315.20, for a total value of $10,634,848.00. Following the transaction, the executive vice president directly owned 45,192 shares of the company's stock, valued at approximately $14,244,518.40. The trade was a 42.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William A. Moss sold 17,700 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $316.40, for a total transaction of $5,600,280.00. Following the completion of the transaction, the vice president directly owned 16,627 shares in the company, valued at $5,260,782.80. This trade represents a 51.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 275,020 shares of company stock worth $86,414,503 in the last ninety days. Corporate insiders own 1.50% of the company's stock.

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.

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.