Sagespring Wealth Partners LLC Grows Holdings in General Dynamics Corporation $GD

Key Points

• Sagespring Wealth Partners LLC increased its holdings in General Dynamics by 24% during Q2, making their total shares owned rise to 4,612, valued at approximately $1.35 million.
• Multiple analysts have upgraded General Dynamics, with price targets raised significantly; for instance, Citigroup increased its target from $348 to $368, maintaining a "buy" rating.
• General Dynamics declared a quarterly dividend of $1.50 per share, which will yield an annualized dividend of $6.00 and a yield of 1.8%, with the payment date set for November 14.

Sagespring Wealth Partners LLC boosted its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 24.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,612 shares of the aerospace company's stock after purchasing an additional 893 shares during the quarter. Sagespring Wealth Partners LLC's holdings in General Dynamics were worth $1,345,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. TD Asset Management Inc lifted its stake in shares of General Dynamics by 6.3% in the 2nd quarter. TD Asset Management Inc now owns 198,282 shares of the aerospace company's stock worth $57,831,000 after purchasing an additional 11,826 shares during the period. Wilmington Savings Fund Society FSB grew its holdings in shares of General Dynamics by 3.8% in the second quarter. Wilmington Savings Fund Society FSB now owns 3,360 shares of the aerospace company's stock valued at $980,000 after purchasing an additional 124 shares in the last quarter. Morningstar Investment Management LLC purchased a new position in shares of General Dynamics in the second quarter valued at $1,170,000. RFG Advisory LLC grew its holdings in shares of General Dynamics by 48.1% in the second quarter. RFG Advisory LLC now owns 3,165 shares of the aerospace company's stock valued at $923,000 after purchasing an additional 1,028 shares in the last quarter. Finally, Perfromance Wealth Partners LLC boosted its stake in General Dynamics by 45.1% during the second quarter. Perfromance Wealth Partners LLC now owns 2,264 shares of the aerospace company's stock worth $660,000 after buying an additional 704 shares during the period. Hedge funds and other institutional investors own 86.14% of the company's stock.

Wall Street Analyst Weigh In

GD has been the subject of several recent analyst reports. Susquehanna lifted their price objective 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. Wall Street Zen raised shares of General Dynamics from a "hold" rating to a "buy" rating in a research note on Saturday, October 4th. Weiss Ratings reiterated a "buy (b)" rating on shares of General Dynamics in a research report on Wednesday, October 8th. Barclays lifted their target price on General Dynamics from $285.00 to $350.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Finally, Citigroup lifted their target price on General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. 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 company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $324.11.

General Dynamics Stock Performance

GD stock opened at $335.52 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. The business has a 50-day moving average price of $325.81 and a 200 day moving average price of $297.86. The company has a market capitalization of $90.25 billion, a P/E ratio of 22.52, a PEG ratio of 2.06 and a beta of 0.47. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $347.37.

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 for the quarter, beating the consensus estimate of $3.47 by $0.27. The firm 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%.The firm's quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous 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, equities research analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, October 10th. General Dynamics's payout ratio is presently 40.27%.

Insider Transactions at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 8,150 shares of the business's stock in a transaction dated Monday, August 25th. The shares were 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 in the company, valued at approximately $7,328,685.24. The trade was a 26.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $315.20, for a total transaction of $10,634,848.00. Following the completion of the transaction, the executive vice president owned 45,192 shares of the company's stock, valued at $14,244,518.40. This represents a 42.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 275,020 shares of company stock valued at $86,414,503 over the last three months. 1.50% of the stock is currently owned by corporate insiders.

About General Dynamics

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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