Ridgewood Investments LLC Reduces Stock Position in General Dynamics Corporation $GD

Key Points

• Ridgewood Investments LLC reduced its stock position in General Dynamics by 67.9%, owning only 522 shares valued at $152,000 following a sale of 1,106 shares in the second quarter.
• General Dynamics received several upgraded target prices from analysts, with Cowen setting a price target of $300, and JPMorgan raising theirs to $345, indicating a positive sentiment around the stock.
• The company announced a quarterly dividend payment of $1.50 per share, with a total annualized dividend of $6.00 and a yield of 1.9%, reflecting a sustainable payout ratio of 40.27%.

Ridgewood Investments LLC reduced its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 67.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 522 shares of the aerospace company's stock after selling 1,106 shares during the quarter. Ridgewood Investments LLC's holdings in General Dynamics were worth $152,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Retirement Guys Formula LLC purchased a new stake in shares of General Dynamics during the 1st quarter valued at approximately $1,692,000. Advisory Resource Group lifted its stake in shares of General Dynamics by 7.1% during the 1st quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company's stock valued at $5,234,000 after buying an additional 1,276 shares in the last quarter. Mission Wealth Management LP lifted its stake in General Dynamics by 18.9% in the 1st quarter. Mission Wealth Management LP now owns 16,144 shares of the aerospace company's stock worth $4,401,000 after purchasing an additional 2,568 shares in the last quarter. Matrix Asset Advisors Inc. NY lifted its stake in General Dynamics by 31.6% in the 1st quarter. Matrix Asset Advisors Inc. NY now owns 33,644 shares of the aerospace company's stock worth $9,171,000 after purchasing an additional 8,073 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. lifted its stake in General Dynamics by 11.5% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 16,522 shares of the aerospace company's stock worth $4,504,000 after purchasing an additional 1,704 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Cowen reiterated a "buy" rating on shares of General Dynamics in a research note on Wednesday, June 25th. TD Cowen increased their target price on shares of General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Susquehanna increased their target price on shares of General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. 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, Barclays increased their price target on shares of General Dynamics from $285.00 to $350.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $315.78.

Insider Activity at General Dynamics

In related news, EVP Mark Lagrand Burns sold 43,860 shares of the stock in a transaction on Monday, July 28th. The shares were sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the transaction, the executive vice president owned 39,875 shares of the company's stock, valued at approximately $12,452,165. This trade represents a 52.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP William A. Moss sold 17,700 shares of the stock in a transaction on Thursday, August 14th. The shares were 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. This represents a 51.56% 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 Price Performance

Shares of NYSE:GD opened at $323.05 on Tuesday. The company's fifty day moving average price is $316.73 and its 200-day moving average price is $290.21. The firm has a market capitalization of $86.90 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 1.99 and a beta of 0.50. General Dynamics Corporation has a one year low of $239.20 and a one year 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 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 quarter last year, the firm earned $3.26 EPS. The firm's quarterly revenue 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. On average, equities research analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. General Dynamics's dividend payout ratio (DPR) is currently 40.27%.

General Dynamics 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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