Plancorp LLC Acquires New Stake in General Dynamics Corporation $GD

Key Points

• Plancorp LLC has acquired a new stake in General Dynamics Corporation, purchasing 894 shares valued at approximately $261,000 during the 2nd quarter.
• Multiple institutional investors have significantly increased their holdings in General Dynamics, with GAMMA Investing LLC raising its position by over 34,000% in the first quarter.
• The company recently announced a quarterly dividend of $1.50 per share, set to be paid on November 14th, reflecting an annualized yield of 1.8%.

Plancorp LLC bought a new position in shares of General Dynamics Corporation (NYSE:GD - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 894 shares of the aerospace company's stock, valued at approximately $261,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GD. GAMMA Investing LLC increased its position in General Dynamics by 34,578.2% during the 1st quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company's stock valued at $339,253,000 after purchasing an additional 1,241,011 shares during the period. Nuveen LLC acquired a new stake in shares of General Dynamics during the first quarter worth $272,464,000. Ameriprise Financial Inc. raised its stake in General Dynamics by 34.8% during the first quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company's stock worth $749,252,000 after buying an additional 709,782 shares during the last quarter. Deutsche Bank AG lifted its holdings in General Dynamics by 120.9% in the first quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company's stock valued at $343,866,000 after buying an additional 690,349 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in General Dynamics by 4.9% during the first quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company's stock valued at $1,499,819,000 after acquiring an additional 256,687 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Jefferies Financial Group set a $325.00 price objective on General Dynamics and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft raised General Dynamics from a "hold" rating to a "buy" rating and boosted their price target for the company from $298.00 to $342.00 in a research note on Tuesday, July 8th. Barclays lifted their price objective on shares of General Dynamics from $285.00 to $350.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. 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. Finally, Sanford C. Bernstein set a $314.00 price target on shares of General Dynamics and gave the company a "market perform" rating in a research note on Monday, July 14th. Nine research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, General Dynamics currently has an average rating of "Hold" and an average target price of $315.78.

Insider Buying and Selling at General Dynamics

In other news, VP Christopher J. Brady sold 8,150 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $321.18, for a total value of $2,617,617.00. Following the completion of the transaction, the vice president directly owned 22,818 shares of the company's stock, valued at $7,328,685.24. This represents a 26.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Phebe N. Novakovic sold 129,090 shares of General Dynamics stock in a transaction on Monday, August 18th. The stock was sold at an average price of $313.57, for a total value of $40,478,751.30. Following the sale, the chief executive officer owned 769,607 shares in the company, valued at $241,325,666.99. This trade represents a 14.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 275,020 shares of company stock valued at $86,414,503 in the last quarter. 1.50% of the stock is owned by company insiders.

General Dynamics Price Performance

Shares of NYSE GD opened at $324.33 on Friday. The stock has a market cap of $87.24 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 1.99 and a beta of 0.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $330.18. The firm's 50-day simple moving average is $318.11 and its 200 day simple moving average is $291.03.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.27. The business had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.General Dynamics's revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. As a group, research analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

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

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.

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