Stonebridge Capital Management Inc. Acquires Shares of 15,193 General Dynamics Corporation $GD

Stonebridge Capital Management Inc. bought a new position in shares of General Dynamics Corporation (NYSE:GD - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 15,193 shares of the aerospace company's stock, valued at approximately $5,382,000. General Dynamics makes up about 2.6% of Stonebridge Capital Management Inc.'s portfolio, making the stock its 12th largest position.

A number of other hedge funds have also added to or reduced their stakes in GD. Pure Financial Advisors LLC bought a new stake in General Dynamics during the second quarter worth $3,605,000. Transamerica Financial Advisors LLC purchased a new position in General Dynamics during the 2nd quarter worth $861,000. Corient Private Wealth LP bought a new stake in shares of General Dynamics in the 2nd quarter worth $57,986,000. Ausdal Financial Partners Inc. bought a new stake in shares of General Dynamics in the 2nd quarter worth $773,000. Finally, Bank of America Corp DE purchased a new stake in shares of General Dynamics in the second quarter valued at about $2,603,527,000. Institutional investors and hedge funds own 86.14% of the company's stock.

General Dynamics Trading Up 1.5%

Shares of GD stock opened at $382.08 on Thursday. The stock has a market capitalization of $103.38 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 2.18 and a beta of 0.33. The company's fifty day simple moving average is $375.27 and its two-hundred day simple moving average is $356.46. General Dynamics Corporation has a 1 year low of $306.77 and a 1 year high of $400.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.44 and a quick ratio of 0.96.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The aerospace company reported $4.24 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.28. The company had revenue of $14.09 billion during the quarter, compared to analysts' expectations of $13.52 billion. General Dynamics had a return on equity of 17.43% and a net margin of 8.18%.The firm's quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.74 earnings per share. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. As a group, analysts anticipate that General Dynamics Corporation will post 16.97 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 9th will be paid a dividend of $1.59 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $6.36 annualized dividend and a yield of 1.7%. General Dynamics's payout ratio is currently 38.80%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. TD Cowen increased their price objective on shares of General Dynamics from $390.00 to $420.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Wall Street Zen lowered General Dynamics from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 1st. DA Davidson reduced their price objective on General Dynamics from $384.00 to $375.00 in a research note on Thursday, April 30th. Robert W. Baird set a $430.00 target price on General Dynamics in a research note on Thursday, July 30th. Finally, Susquehanna boosted their price target on shares of General Dynamics from $420.00 to $455.00 and gave the stock a "positive" rating in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $410.89.

Insiders Place Their Bets

In other General Dynamics news, EVP Marguerite Amy Gilliland sold 43,180 shares of the firm's stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $378.04, for a total value of $16,323,767.20. Following the sale, the executive vice president owned 44,767 shares of the company's stock, valued at $16,923,716.68. This trade represents a 49.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Phebe N. Novakovic sold 51,568 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $382.58, for a total value of $19,728,885.44. Following the transaction, the chief executive officer directly owned 766,457 shares of the company's stock, valued at $293,231,119.06. The trade was a 6.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 100,228 shares of company stock worth $38,052,853 in the last three months. 1.40% of the stock is currently owned by corporate insiders.

General Dynamics Company Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.

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