NewEdge Advisors LLC Has $9.29 Million Holdings in General Dynamics Corporation $GD

Key Points

• NewEdge Advisors LLC increased its stake in General Dynamics Corporation by 3.3%, purchasing an additional 1,094 shares during the first quarter, bringing their total holdings to 34,074 shares valued at approximately $9.28 million.
• General Dynamics reported an earnings per share (EPS) of $3.74 for the last quarter, exceeding estimates by $0.27, with revenue also surpassing expectations at $13.04 billion.
• The company announced a quarterly dividend of $1.50 per share, reflecting a 1.9% dividend yield, with the payout scheduled for November 14th for stakeholders on record by October 10th.

NewEdge Advisors LLC grew its position in General Dynamics Corporation (NYSE:GD - Free Report) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,074 shares of the aerospace company's stock after acquiring an additional 1,094 shares during the quarter. NewEdge Advisors LLC's holdings in General Dynamics were worth $9,288,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Principal Securities Inc. lifted its position in shares of General Dynamics by 0.5% in the 1st quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company's stock worth $2,161,000 after acquiring an additional 37 shares during the period. Sharpepoint LLC lifted its position in shares of General Dynamics by 4.2% in the 1st quarter. Sharpepoint LLC now owns 917 shares of the aerospace company's stock worth $249,000 after acquiring an additional 37 shares during the period. United Asset Strategies Inc. lifted its position in shares of General Dynamics by 1.2% in the 1st quarter. United Asset Strategies Inc. now owns 3,140 shares of the aerospace company's stock worth $856,000 after acquiring an additional 37 shares during the period. 1858 Wealth Management LLC lifted its position in shares of General Dynamics by 1.2% in the 1st quarter. 1858 Wealth Management LLC now owns 3,224 shares of the aerospace company's stock worth $879,000 after acquiring an additional 38 shares during the period. Finally, Keystone Financial Services lifted its position in shares of General Dynamics by 1.6% in the 1st quarter. Keystone Financial Services now owns 2,421 shares of the aerospace company's stock worth $660,000 after acquiring an additional 38 shares during the period. Institutional investors own 86.14% of the company's stock.

Analyst Ratings Changes

GD has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price objective on General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Wolfe Research upgraded General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 target price for the company in a research report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft upgraded General Dynamics from a "hold" rating to a "buy" rating and raised their target price for the stock from $298.00 to $342.00 in a research report on Tuesday, July 8th. Robert W. Baird raised their target price on General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, Citigroup raised their target price on General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Nine equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $315.78.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, VP William A. Moss sold 17,700 shares of General Dynamics 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 directly owned 16,627 shares in the company, valued at approximately $5,260,782.80. The trade was a 51.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark Malcolm sold 1,210 shares of General Dynamics stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $319.04, for a total value of $386,038.40. Following the transaction, the director owned 10,186 shares in the company, valued at approximately $3,249,741.44. This represents a 10.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 279,439 shares of company stock valued at $87,495,956 over the last quarter. 1.50% of the stock is owned by corporate insiders.

General Dynamics Trading Down 1.0%

Shares of NYSE GD traded down $3.19 during midday trading on Friday, hitting $326.43. The stock had a trading volume of 274,744 shares, compared to its average volume of 1,381,328. The company's 50-day simple moving average is $313.11 and its 200 day simple moving average is $286.42. The firm has a market cap of $87.81 billion, a P/E ratio of 21.89, a price-to-earnings-growth ratio of 1.98 and a beta of 0.50. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $330.18. 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 (NYSE:GD - Get Free Report) last released its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, beating the consensus estimate of $3.47 by $0.27. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The company had revenue of $13.04 billion during the quarter, compared to analysts' expectations of $12.13 billion. During the same period last year, the firm earned $3.26 EPS. The business's revenue for the quarter was up 8.9% on a year-over-year basis. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Research analysts anticipate that General Dynamics Corporation will post 14.83 EPS for the current 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 paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. General Dynamics's payout ratio is 40.27%.

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.