NorthRock Partners LLC Has $981,000 Stock Position in General Dynamics Corporation $GD

Key Points

• NorthRock Partners LLC increased its stake in General Dynamics Corporation by 32.3% during Q2, now holding shares worth approximately $981,000.
• Insider selling saw CEO Phebe N. Novakovic and VP Christopher J. Brady offload large amounts of stock, reducing their positions by 14.36% and 26.32%, respectively.
• General Dynamics recently reported a quarterly EPS of $3.74, exceeding estimates, with a revenue increase of 8.9% compared to the previous year.

NorthRock Partners LLC grew its position in General Dynamics Corporation (NYSE:GD - Free Report) by 32.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,363 shares of the aerospace company's stock after buying an additional 821 shares during the period. NorthRock Partners LLC's holdings in General Dynamics were worth $981,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. 1858 Wealth Management LLC grew its holdings in shares of General Dynamics by 1.0% in the 2nd quarter. 1858 Wealth Management LLC now owns 3,256 shares of the aerospace company's stock valued at $950,000 after buying an additional 32 shares during the period. Salvus Wealth Management LLC lifted its position in General Dynamics by 2.9% in the 2nd quarter. Salvus Wealth Management LLC now owns 1,274 shares of the aerospace company's stock valued at $372,000 after acquiring an additional 36 shares in the last quarter. Principal Securities Inc. lifted its position in General Dynamics by 0.5% in the 1st quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company's stock valued at $2,161,000 after acquiring an additional 37 shares in the last quarter. Sharpepoint LLC lifted its position in General Dynamics by 4.2% in the 1st quarter. Sharpepoint LLC now owns 917 shares of the aerospace company's stock valued at $249,000 after acquiring an additional 37 shares in the last quarter. Finally, United Asset Strategies Inc. lifted its position in General Dynamics by 1.2% in the 1st quarter. United Asset Strategies Inc. now owns 3,140 shares of the aerospace company's stock valued at $856,000 after acquiring an additional 37 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

Insiders Place Their Bets

In other General Dynamics news, VP Christopher J. Brady sold 8,150 shares of the stock in a transaction that occurred on 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 owned 22,818 shares in the company, valued at $7,328,685.24. This represents a 26.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Phebe N. Novakovic sold 129,090 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the transaction, the chief executive officer owned 769,607 shares in the company, valued at approximately $241,325,666.99. The trade was a 14.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 275,020 shares of company stock worth $86,414,503 in the last 90 days. Corporate insiders own 1.50% of the company's stock.

General Dynamics Stock Up 0.3%

General Dynamics stock opened at $335.52 on Wednesday. The firm has a market capitalization of $90.25 billion, a PE ratio of 22.52, a P/E/G ratio of 2.06 and a beta of 0.47. The company's 50-day moving average is $325.81 and its 200-day moving average is $297.86. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $347.37. 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 quarterly earnings data 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 previous year, the business earned $3.26 EPS. General Dynamics'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. Sell-side analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current 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 paid 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 is 40.27%.

Analyst Ratings Changes

Several research firms recently commented on GD. UBS Group boosted their price objective on shares of General Dynamics from $309.00 to $333.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Wall Street Zen raised shares of General Dynamics from a "hold" rating to a "buy" rating in a research report on Saturday, October 4th. Seaport Res Ptn raised shares of General Dynamics from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 29th. Wolfe Research boosted their price target on shares of General Dynamics from $360.00 to $400.00 and gave the stock an "outperform" rating in a research report on Thursday, October 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $324.11.

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.

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