Sequoia Financial Advisors LLC Buys 9,691 Shares of General Dynamics Corporation $GD

Key Points

• Sequoia Financial Advisors LLC increased its holdings in General Dynamics Corporation by 30.9%, acquiring an additional 9,691 shares during the second quarter, bringing their total to 41,063 shares valued at approximately $11.98 million.
• General Dynamics reported a Q2 EPS of $3.74, surpassing estimates, with quarterly revenue of $13.04 billion, up 8.9% year-over-year.
• The company declared a quarterly dividend of $1.50, representing an annual yield of 1.8%, with the payment date set for November 14th.

Sequoia Financial Advisors LLC raised its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 30.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 41,063 shares of the aerospace company's stock after buying an additional 9,691 shares during the period. Sequoia Financial Advisors LLC's holdings in General Dynamics were worth $11,976,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. 1858 Wealth Management LLC increased its stake in General Dynamics by 1.0% in the 2nd quarter. 1858 Wealth Management LLC now owns 3,256 shares of the aerospace company's stock valued at $950,000 after buying an additional 32 shares during the last quarter. Salvus Wealth Management LLC increased its stake 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 valued at $372,000 after buying an additional 36 shares during the last quarter. Principal Securities Inc. increased its stake in General Dynamics by 0.5% in 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 during the last quarter. Sharpepoint LLC increased its stake in General Dynamics by 4.2% in 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 during the last quarter. Finally, United Asset Strategies Inc. increased its stake in General Dynamics by 1.2% in 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 during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Performance

Shares of GD stock opened at $334.64 on Tuesday. The company has a market capitalization of $90.01 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 2.05 and a beta of 0.47. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. The company has a 50-day simple moving average of $325.37 and a 200 day simple moving average of $297.59. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $347.37.

General Dynamics (NYSE:GD - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 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 net margin of 8.13% and a return on equity of 17.99%. General Dynamics's revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. On average, sell-side analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

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 issued 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 yield of 1.8%. General Dynamics's payout ratio is currently 40.27%.

Analyst Ratings Changes

GD has been the topic of several recent research reports. Wolfe Research lifted their price target on shares of General Dynamics from $360.00 to $400.00 and gave the company an "outperform" rating in a research note on Thursday, October 9th. Sanford C. Bernstein set a $314.00 price objective on shares of General Dynamics and gave the stock a "market perform" rating in a research note on Monday, July 14th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $400.00 price objective on shares of General Dynamics in a research note on Wednesday, October 8th. The Goldman Sachs Group boosted their price objective on shares of General Dynamics from $280.00 to $293.00 and gave the stock a "sell" rating in a research note on Friday. Finally, Wall Street Zen upgraded shares of General Dynamics from a "hold" rating to a "buy" rating in a research note on Saturday, October 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $324.11.

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 sale, the vice president owned 22,818 shares of the company's stock, valued at $7,328,685.24. The trade was a 26.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 shares were sold at an average price of $315.20, for a total transaction 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 represents a 42.75% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 275,020 shares of company stock worth $86,414,503. Company insiders own 1.50% of the company's stock.

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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