Moran Wealth Management LLC Has $8.94 Million Holdings in General Dynamics Corporation $GD

Key Points

• Moran Wealth Management LLC reduced its stake in General Dynamics by 6.5%, holding 30,639 shares valued at approximately $8.94 million.
• General Dynamics is experiencing positive market sentiment, with several analysts adjusting their target prices upwards, reflecting an average target of $324.11 and mostly positive ratings.
• The company recently announced a quarterly dividend of $1.50 per share, projected to represent an annual yield of 1.8%, with a payout ratio of 40.27%.

Moran Wealth Management LLC cut its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,639 shares of the aerospace company's stock after selling 2,137 shares during the period. Moran Wealth Management LLC's holdings in General Dynamics were worth $8,936,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Inlight Wealth Management LLC acquired a new stake in General Dynamics during the first quarter worth approximately $26,000. Smallwood Wealth Investment Management LLC bought a new position in shares of General Dynamics during the first quarter worth approximately $27,000. Quarry LP increased its holdings in shares of General Dynamics by 783.3% during the first quarter. Quarry LP now owns 106 shares of the aerospace company's stock worth $29,000 after purchasing an additional 94 shares during the period. Abound Financial LLC bought a new position in shares of General Dynamics during the first quarter worth approximately $32,000. Finally, Nova Wealth Management Inc. bought a new position in shares of General Dynamics during the first quarter worth approximately $33,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GD has been the topic of several recent research reports. Jefferies Financial Group set a $325.00 target price on shares of General Dynamics and gave the stock a "hold" rating in a report on Wednesday, July 9th. JPMorgan Chase & Co. raised their target price 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. Susquehanna raised their target price 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. Weiss Ratings reaffirmed a "buy (b)" rating on shares of General Dynamics in a report on Wednesday, October 8th. Finally, Robert W. Baird raised their target price on shares of General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $324.11.

General Dynamics Stock Performance

Shares of NYSE:GD opened at $334.64 on Tuesday. The company's 50 day simple moving average is $325.37 and its 200 day simple moving average is $297.59. The stock has a market capitalization of $90.01 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 2.05 and a beta of 0.47. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $347.37.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The business had revenue of $13.04 billion for the quarter, compared to analysts' expectations of $12.13 billion. During the same period last year, the firm posted $3.26 earnings per share. The firm's quarterly revenue 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, research analysts predict that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

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

Insider Transactions at General Dynamics

In other General Dynamics news, Director Mark Malcolm sold 3,220 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $329.45, for a total value of $1,060,829.00. Following the sale, the director owned 10,186 shares in the company, valued at $3,355,777.70. This trade represents a 24.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 45,192 shares in the company, valued at $14,244,518.40. This represents a 42.75% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 275,020 shares of company stock valued at $86,414,503. Corporate 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.

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.