Pallas Capital Advisors LLC Invests $977,000 in General Dynamics Corporation $GD

Key Points

• Pallas Capital Advisors bought 2,758 General Dynamics shares worth approximately $977,000, while institutional investors collectively own 86.14% of the company.
• General Dynamics reported quarterly earnings of $4.24 per share and revenue of $14.09 billion, beating analyst estimates; revenue increased 8.1% year over year.
• The company declared a quarterly dividend of $1.59 per share, equivalent to a 1.6% annual yield, while analysts maintain a consensus “Moderate Buy” rating and a $410.89 price target.

Pallas Capital Advisors LLC bought a new stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,758 shares of the aerospace company's stock, valued at approximately $977,000.

Other hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp purchased a new position in shares of General Dynamics during the 2nd quarter valued at about $429,073,000. AQR Capital Management LLC increased its holdings in General Dynamics by 118.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,663,847 shares of the aerospace company's stock worth $567,372,000 after acquiring an additional 901,679 shares in the last quarter. Northern Trust Corp raised its stake in General Dynamics by 35.0% during the 3rd quarter. Northern Trust Corp now owns 3,332,917 shares of the aerospace company's stock worth $1,136,525,000 after acquiring an additional 863,392 shares during the period. Balyasny Asset Management L.P. lifted its holdings in General Dynamics by 831.1% during the third quarter. Balyasny Asset Management L.P. now owns 737,259 shares of the aerospace company's stock valued at $251,405,000 after purchasing an additional 658,081 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of General Dynamics in the second quarter worth approximately $224,983,000. Institutional investors own 86.14% of the company's stock.

Insider Activity

In related news, EVP Marguerite Amy Gilliland sold 43,180 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $378.04, for a total transaction of $16,323,767.20. Following the completion of the transaction, the executive vice president directly owned 44,767 shares of the company's stock, valued at approximately $16,923,716.68. This represents a 49.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Malcolm sold 5,480 shares of the firm's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total value of $2,000,200.00. Following the transaction, the director owned 10,643 shares of the company's stock, valued at $3,884,695. This represents a 33.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 100,228 shares of company stock worth $38,052,853 over the last 90 days. Corporate insiders own 1.40% of the company's stock.

General Dynamics Trading Up 0.7%

General Dynamics stock opened at $393.77 on Wednesday. General Dynamics Corporation has a 1 year low of $306.77 and a 1 year high of $400.00. The firm's 50 day moving average price is $372.12 and its 200-day moving average price is $355.08. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.44 and a quick ratio of 0.96. The stock has a market cap of $106.54 billion, a P/E ratio of 24.02, a PEG ratio of 2.29 and a beta of 0.32.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, July 29th. The aerospace company reported $4.24 earnings per share for the quarter, topping analysts' consensus estimates of $3.96 by $0.28. The firm had revenue of $14.09 billion during the quarter, compared to analyst estimates of $13.52 billion. General Dynamics had a net margin of 8.18% and a return on equity of 17.43%. General Dynamics's revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.74 earnings per share. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. On average, equities analysts predict that General Dynamics Corporation will post 16.97 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 9th will be given a dividend of $1.59 per share. The ex-dividend date is Friday, October 9th. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.6%. General Dynamics's dividend payout ratio (DPR) is presently 38.80%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GD. UBS Group increased their price objective on shares of General Dynamics from $366.00 to $395.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Morgan Stanley upped their target price on shares of General Dynamics from $435.00 to $465.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Robert W. Baird set a $430.00 price target on General Dynamics in a research note on Thursday, July 30th. BNP Paribas Exane raised their price target on General Dynamics from $390.00 to $430.00 and gave the company an "outperform" rating in a report on Thursday, July 30th. Finally, Royal Bank Of Canada boosted their price objective on General Dynamics from $385.00 to $410.00 and gave the company a "sector perform" rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, General Dynamics has a consensus rating of "Moderate Buy" and a consensus target price of $410.89.

General Dynamics Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.

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