Morningstar Investment Management LLC Purchases New Position in General Dynamics Corporation $GD

Key Points

• Morningstar Investment Management LLC has purchased a new stake in General Dynamics, acquiring 4,011 shares valued at approximately $1.17 million in the second quarter.
• Insider activity showed significant sales, with VP Christopher J. Brady selling 8,150 shares and VP William A. Moss selling 17,700 shares, representing substantial decreases in their ownership stakes.
• General Dynamics announced a quarterly dividend of $1.50 per share, translating to a yield of 1.8%, payable on November 14th to shareholders of record by October 10th.

Morningstar Investment Management LLC purchased a new stake in General Dynamics Corporation (NYSE:GD - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,011 shares of the aerospace company's stock, valued at approximately $1,170,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Retirement Guys Formula LLC acquired a new stake in shares of General Dynamics during the first quarter worth about $1,692,000. Advisory Resource Group boosted its stake in shares of General Dynamics by 7.1% during the first quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company's stock worth $5,234,000 after buying an additional 1,276 shares during the period. Mission Wealth Management LP boosted its stake in shares of General Dynamics by 18.9% during the first quarter. Mission Wealth Management LP now owns 16,144 shares of the aerospace company's stock worth $4,401,000 after buying an additional 2,568 shares during the period. Matrix Asset Advisors Inc. NY boosted its stake in shares of General Dynamics by 31.6% during the first quarter. Matrix Asset Advisors Inc. NY now owns 33,644 shares of the aerospace company's stock worth $9,171,000 after buying an additional 8,073 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. boosted its stake in shares of General Dynamics by 11.5% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 16,522 shares of the aerospace company's stock worth $4,504,000 after buying an additional 1,704 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GD has been the subject of several recent research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of General Dynamics in a research note on Wednesday, October 8th. TD Cowen increased their target price 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. JPMorgan Chase & Co. increased their target price on shares of General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Seaport Res Ptn upgraded shares of General Dynamics from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 29th. Finally, UBS Group increased their price target on shares of General Dynamics from $309.00 to $333.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $324.11.

Insider Activity at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 8,150 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $321.18, for a total transaction of $2,617,617.00. Following the transaction, the vice president directly owned 22,818 shares in the company, valued at approximately $7,328,685.24. This represents a 26.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP William A. Moss sold 17,700 shares of the company'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 transaction, the vice president owned 16,627 shares in the company, valued at $5,260,782.80. The trade was a 51.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 275,020 shares of company stock valued at $86,414,503 in the last ninety days. Company insiders own 1.50% of the company's stock.

General Dynamics Trading Up 0.5%

NYSE GD opened at $334.64 on Tuesday. The stock has a market capitalization of $90.01 billion, a P/E ratio of 22.46, a P/E/G ratio of 2.05 and a beta of 0.47. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $347.37. The firm has a 50-day moving average price of $325.37 and a 200 day moving average price of $297.59. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The company had revenue of $13.04 billion for the quarter, compared to analyst estimates of $12.13 billion. During the same period in the prior year, the business 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 research analysts expect that General Dynamics Corporation will post 14.83 EPS for the current 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 dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, October 10th. 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.

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