Texas Capital Bank Wealth Management Services Inc Invests $352,000 in General Dynamics Corporation $GD

Key Points

• Texas Capital Bank Wealth Management Services Inc invested approximately $352,000 in General Dynamics Corporation, acquiring 1,291 shares in the first quarter.
• General Dynamics recently declared a quarterly dividend of $1.50 to be paid on November 14th, representing an annualized dividend yield of 1.9%.
• Institutional investors control approximately 86.14% of General Dynamics' stock, indicating robust interest in the company from large financial entities.

Texas Capital Bank Wealth Management Services Inc acquired a new stake in General Dynamics Corporation (NYSE:GD - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,291 shares of the aerospace company's stock, valued at approximately $352,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GD. Rialto Wealth Management LLC raised its position in shares of General Dynamics by 213.8% in the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after acquiring an additional 62 shares during the period. Inlight Wealth Management LLC bought a new stake in General Dynamics in the first quarter valued at approximately $26,000. Copia Wealth Management acquired a new stake in General Dynamics in the fourth quarter worth $27,000. Smallwood Wealth Investment Management LLC acquired a new stake in General Dynamics in the first quarter worth $27,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of General Dynamics in the 4th quarter valued at $28,000. Institutional investors own 86.14% of the company's stock.

Insider Activity

In related news, EVP Marguerite Amy Gilliland sold 33,740 shares of the stock in a transaction that occurred on 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 directly owned 45,192 shares of the company's stock, valued at approximately $14,244,518.40. This represents a 42.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Lagrand Burns sold 43,860 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $312.28, for a total value of $13,696,600.80. Following the transaction, the executive vice president directly owned 39,875 shares in the company, valued at $12,452,165. This trade represents a 52.38% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 319,810 shares of company stock worth $94,643,139. 1.50% of the stock is currently owned by company insiders.

General Dynamics Stock Up 0.9%

Shares of General Dynamics stock opened at $316.3370 on Wednesday. The firm has a market cap of $85.09 billion, a PE ratio of 21.23, a P/E/G ratio of 1.92 and a beta of 0.48. The business's 50 day simple moving average is $300.26 and its 200 day simple moving average is $278.10. 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 Corporation has a 52-week low of $239.20 and a 52-week high of $322.50.

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

General Dynamics Dividend Announcement

The firm also recently declared 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. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, October 10th. General Dynamics's payout ratio is presently 40.27%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GD shares. Jefferies Financial Group set a $325.00 price objective on General Dynamics and gave the stock a "hold" rating in a research note on Wednesday, July 9th. TD Securities increased their price target on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Cowen reiterated a "buy" rating on shares of General Dynamics in a report on Wednesday, June 25th. Susquehanna boosted their price objective on General Dynamics from $315.00 to $365.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Finally, TD Cowen raised their target price on shares of General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Nine research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $315.78.

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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