Robertson Stephens Wealth Management LLC Grows Position in General Dynamics Corporation $GD

Key Points

• Robertson Stephens Wealth Management LLC increased its stake in General Dynamics by 477.5% in Q2, now owning 4,418 shares valued at $1,289,000.
• General Dynamics reported $3.74 EPS for the quarter, exceeding analysts' expectations of $3.47, with revenue up 8.9% year-over-year.
• The company announced a quarterly dividend of $1.50, with an annualized yield of 1.8%, set to be paid on November 14th.

Robertson Stephens Wealth Management LLC grew its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 477.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,418 shares of the aerospace company's stock after purchasing an additional 3,653 shares during the period. Robertson Stephens Wealth Management LLC's holdings in General Dynamics were worth $1,289,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Salvus Wealth Management LLC boosted 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 worth $372,000 after purchasing an additional 36 shares in the last quarter. Principal Securities Inc. lifted its position in shares of General Dynamics by 0.5% during the 1st quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company's stock valued at $2,161,000 after buying an additional 37 shares in the last quarter. Sharpepoint LLC lifted its position in shares of General Dynamics by 4.2% during the 1st quarter. Sharpepoint LLC now owns 917 shares of the aerospace company's stock valued at $249,000 after buying an additional 37 shares in the last quarter. United Asset Strategies Inc. lifted its position in shares of General Dynamics by 1.2% during the 1st quarter. United Asset Strategies Inc. now owns 3,140 shares of the aerospace company's stock valued at $856,000 after buying an additional 37 shares in the last quarter. Finally, Southland Equity Partners LLC lifted its position in shares of General Dynamics by 3.2% during the 2nd quarter. Southland Equity Partners LLC now owns 1,185 shares of the aerospace company's stock valued at $346,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Trading Down 2.8%

Shares of GD stock opened at $333.03 on Friday. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $347.37. The firm has a market capitalization of $89.58 billion, a P/E ratio of 22.35, a PEG ratio of 2.10 and a beta of 0.47. The stock's fifty day moving average is $324.93 and its two-hundred day moving average is $296.76. 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 (NYSE:GD - Get Free Report) last issued its earnings results 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. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The business had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. During the same period last year, the company earned $3.26 EPS. The company's revenue for the quarter was up 8.9% on a year-over-year basis. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Research analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

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

Analysts Set New Price Targets

GD has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of General Dynamics in a research report on Wednesday. Jefferies Financial Group set a $325.00 target price on General Dynamics and gave the company a "hold" rating in a research report on Wednesday, July 9th. UBS Group increased their target price on General Dynamics from $309.00 to $333.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. TD Cowen raised their price objective on General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Finally, Seaport Res Ptn upgraded General Dynamics from a "hold" rating to a "strong-buy" rating in a report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $319.00.

Insiders Place Their Bets

In other General Dynamics news, Director Mark Malcolm sold 3,220 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $329.45, for a total value of $1,060,829.00. Following the completion of the sale, the director directly owned 10,186 shares of the company's stock, valued at $3,355,777.70. This trade represents a 24.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $315.20, for a total value of $10,634,848.00. Following the completion of the sale, the executive vice president directly owned 45,192 shares of the company's stock, valued at $14,244,518.40. This trade represents a 42.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 275,020 shares of company stock worth $86,414,503. 1.50% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.