Precision Wealth Strategies LLC Buys Shares of 1,846 General Dynamics Corporation $GD

Key Points

• Precision Wealth Strategies LLC acquired 1,846 shares of General Dynamics Corporation, valued at approximately $538,000, during the second quarter, indicating a strong interest from institutional investors in the aerospace company.
• General Dynamics has seen multiple analyst upgrades recently, with price targets raised by firms such as Wolfe Research to $360.00 and Deutsche Bank to $342.00, signaling positive sentiment towards the company's performance.
• The company announced a quarterly dividend of $1.50 per share, with a distribution date set for November 14th, reflecting a solid dividend payout ratio of 40.27% and overall financial health.

Precision Wealth Strategies LLC purchased a new position in General Dynamics Corporation (NYSE:GD - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,846 shares of the aerospace company's stock, valued at approximately $538,000.

Other hedge funds also recently bought and sold shares of the company. USA Financial Formulas purchased a new position in General Dynamics in the second quarter worth about $174,000. Founders Capital Management lifted its stake in shares of General Dynamics by 18.2% in the 2nd quarter. Founders Capital Management now owns 455 shares of the aerospace company's stock worth $133,000 after purchasing an additional 70 shares during the period. Trilogy Capital Inc. boosted its holdings in shares of General Dynamics by 0.7% in the second quarter. Trilogy Capital Inc. now owns 11,587 shares of the aerospace company's stock worth $3,379,000 after buying an additional 80 shares during the last quarter. QTR Family Wealth LLC bought a new stake in General Dynamics during the second quarter valued at approximately $243,000. Finally, Rogco LP increased its holdings in General Dynamics by 10.5% during the second quarter. Rogco LP now owns 2,752 shares of the aerospace company's stock valued at $803,000 after buying an additional 262 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GD. Sanford C. Bernstein set a $314.00 price objective on shares of General Dynamics and gave the company a "market perform" rating in a research report on Monday, July 14th. Wolfe Research raised General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price target for the company in a report on Thursday, July 24th. TD Cowen raised their price objective on General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Deutsche Bank Aktiengesellschaft raised General Dynamics from a "hold" rating to a "buy" rating and lifted their price objective for the company from $298.00 to $342.00 in a research report on Tuesday, July 8th. Finally, Wall Street Zen lowered shares of General Dynamics from a "buy" rating to a "hold" rating in a report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, General Dynamics presently has an average rating of "Hold" and an average target price of $315.78.

Insider Transactions at General Dynamics

In other General Dynamics news, VP William A. Moss sold 17,700 shares of the business's stock in a transaction that occurred on 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 sale, the vice president directly owned 16,627 shares of the company's stock, valued at $5,260,782.80. The trade was a 51.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Phebe N. Novakovic sold 129,090 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were 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 approximately $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. Over the last 90 days, insiders sold 275,020 shares of company stock worth $86,414,503. 1.50% of the stock is currently owned by corporate insiders.

General Dynamics Price Performance

Shares of General Dynamics stock opened at $340.96 on Thursday. The firm has a market cap of $91.71 billion, a PE ratio of 22.88, a PEG ratio of 2.09 and a beta of 0.47. The stock has a 50 day moving average of $320.78 and a 200 day moving average of $293.08. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $341.19.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $0.27. The business had revenue of $13.04 billion for 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%.The company's revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. On average, research analysts expect that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, October 10th. This represents a $6.00 annualized dividend and a yield of 1.8%. General Dynamics's dividend payout ratio (DPR) is 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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