Smith Chas P & Associates PA Cpas Grows Stock Position in General Dynamics Corporation $GD

Key Points

• Smith Chas P & Associates PA Cpas increased its holdings in General Dynamics Corporation by 2.6% in Q2, owning 127,983 shares now valued at approximately $37.3 million.
• CEO Phebe N. Novakovic sold 129,090 shares for over $40.4 million, representing a 14.36% decrease in her ownership, while other insiders have sold additional shares recently.
• General Dynamics reported Q2 earnings of $3.74 per share, surpassing expectations, with revenue of $13.04 billion, indicating an 8.9% increase compared to the previous year.

Smith Chas P & Associates PA Cpas raised its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 2.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,983 shares of the aerospace company's stock after purchasing an additional 3,226 shares during the quarter. General Dynamics accounts for 2.1% of Smith Chas P & Associates PA Cpas' holdings, making the stock its 18th largest holding. Smith Chas P & Associates PA Cpas' holdings in General Dynamics were worth $37,327,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in General Dynamics by 4.9% during the first quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company's stock worth $1,499,819,000 after purchasing an additional 256,687 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in General Dynamics by 34.8% during the 1st quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company's stock worth $749,252,000 after acquiring an additional 709,782 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in General Dynamics by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,582,388 shares of the aerospace company's stock valued at $431,327,000 after acquiring an additional 5,313 shares during the period. Boston Partners grew its position in General Dynamics by 7.9% in the 1st quarter. Boston Partners now owns 1,296,497 shares of the aerospace company's stock valued at $353,558,000 after acquiring an additional 94,537 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of General Dynamics by 120.9% during the first quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company's stock worth $343,866,000 after purchasing an additional 690,349 shares in the last quarter. 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 a number of research reports. Sanford C. Bernstein set a $314.00 price objective on shares of General Dynamics and gave the company a "market perform" rating in a report on Monday, July 14th. JPMorgan Chase & Co. boosted their price target on shares of General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Robert W. Baird boosted their target price on shares of General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Cowen restated a "buy" rating on shares of General Dynamics in a research note on Wednesday, June 25th. Finally, Barclays raised 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. Nine investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $315.78.

Insider Activity at General Dynamics

In related news, CEO Phebe N. Novakovic sold 129,090 shares of General Dynamics stock in a transaction on Monday, August 18th. The stock was sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the completion of the transaction, the chief executive officer directly owned 769,607 shares of the company's stock, valued at approximately $241,325,666.99. The trade was a 14.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mark Malcolm sold 3,220 shares of the company's stock in a transaction on Friday, September 12th. The shares were 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 in the company, valued at $3,355,777.70. This trade represents a 24.02% decrease in their position. The disclosure for this sale can be found here. In 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 insiders.

General Dynamics Trading Up 1.9%

NYSE GD opened at $330.54 on Monday. General Dynamics Corporation has a one year low of $239.20 and a one year high of $330.63. The firm has a market cap of $88.91 billion, a PE ratio of 22.18, a P/E/G ratio of 2.03 and a beta of 0.50. The firm's fifty day moving average is $318.73 and its two-hundred day moving average is $291.92. 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 posted its quarterly earnings data 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 return on equity of 17.99% and a net margin of 8.13%.The firm had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. During the same period in the prior year, the business earned $3.26 EPS. The firm's 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. Analysts expect 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. Investors of record on Friday, October 10th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics's dividend payout ratio is currently 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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