T. Rowe Price Investment Management Inc. Acquires Shares of 1,557 General Dynamics Corporation $GD

Key Points

• T. Rowe Price Investment Management Inc. has acquired 1,557 shares of General Dynamics Corporation, valued at approximately $425,000, as part of its new position in the aerospace company in the first quarter.
• The stock currently has a market cap of $86.05 billion and reported a return on equity of 17.99% with a net margin of 8.13% based on its recent earnings results.
• General Dynamics declared a quarterly dividend of $1.50 per share, scheduled for payment on November 14th, representing an annualized yield of 1.9%.

T. Rowe Price Investment Management Inc. bought a new stake in General Dynamics Corporation (NYSE:GD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,557 shares of the aerospace company's stock, valued at approximately $425,000.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in shares of 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 acquiring an additional 256,687 shares during the period. Royal Bank of Canada boosted its holdings in shares of General Dynamics by 5.2% during the fourth quarter. Royal Bank of Canada now owns 2,935,046 shares of the aerospace company's stock worth $773,355,000 after acquiring an additional 145,978 shares during the period. Northern Trust Corp boosted its holdings in shares of General Dynamics by 4.2% during the fourth quarter. Northern Trust Corp now owns 2,606,137 shares of the aerospace company's stock worth $686,691,000 after acquiring an additional 103,870 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of General Dynamics by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,582,388 shares of the aerospace company's stock worth $431,327,000 after acquiring an additional 5,313 shares during the period. Finally, Boston Partners boosted its holdings in shares of General Dynamics by 7.9% during the first quarter. Boston Partners now owns 1,296,497 shares of the aerospace company's stock worth $353,558,000 after acquiring an additional 94,537 shares during the period. Institutional investors and hedge funds own 86.14% of the company's stock.

Insider Transactions at General Dynamics

In related news, Director Mark Malcolm sold 1,210 shares of General Dynamics stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $319.04, for a total value of $386,038.40. Following the completion of the transaction, the director directly owned 10,186 shares in the company, valued at approximately $3,249,741.44. The trade was a 10.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of General Dynamics stock in a transaction that occurred on 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 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. In the last 90 days, insiders have sold 458,260 shares of company stock worth $138,125,545. Company insiders own 1.50% of the company's stock.

General Dynamics Trading Down 0.1%

NYSE GD traded down $0.27 on Friday, reaching $324.64. The company had a trading volume of 670,140 shares, compared to its average volume of 1,415,969. The firm has a market cap of $87.33 billion, a price-to-earnings ratio of 21.79, a P/E/G ratio of 2.00 and a beta of 0.48. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $326.02. The business has a 50 day moving average of $306.06 and a two-hundred day moving average of $281.06. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, beating analysts' consensus estimates of $3.47 by $0.27. The business had revenue of $13.04 billion for the quarter, compared to analysts' expectations of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The business's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

The company also recently disclosed 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 is Friday, October 10th. This represents a $6.00 annualized dividend and a yield of 1.8%. General Dynamics's dividend payout ratio (DPR) is 40.27%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GD. Citigroup boosted their price target on General Dynamics from $348.00 to $368.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Sanford C. Bernstein set a $314.00 price target on General Dynamics and gave the company a "market perform" rating in a research note on Monday, July 14th. Jefferies Financial Group set a $325.00 price target on General Dynamics and gave the company a "hold" rating in a research note on Wednesday, July 9th. Wolfe Research upgraded General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 target price for the company in a research note on Thursday, July 24th. Finally, Susquehanna upped their target price on General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Nine analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $315.78.

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.