Tradition Wealth Management LLC Buys Shares of 809 General Dynamics Corporation $GD

Key Points

• Tradition Wealth Management LLC invested $220,000 in 809 shares of General Dynamics Corporation during the first quarter of 2023.
• Multiple large investors have raised their stakes in General Dynamics, with institutional investors now owning 86.14% of the stock.
• General Dynamics recently reported stronger-than-expected earnings, with a quarterly EPS of $3.74, outperforming the consensus estimate of $3.47.

Tradition Wealth Management LLC purchased a new position in shares of General Dynamics Corporation (NYSE:GD - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 809 shares of the aerospace company's stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GD. Brighton Jones LLC raised its position in shares of General Dynamics by 16.9% during the 4th quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company's stock worth $760,000 after buying an additional 417 shares in the last quarter. Jump Financial LLC acquired a new position in shares of General Dynamics in the 4th quarter worth approximately $209,000. Dark Forest Capital Management LP grew its stake in shares of General Dynamics by 34.7% in the 4th quarter. Dark Forest Capital Management LP now owns 2,668 shares of the aerospace company's stock worth $703,000 after purchasing an additional 688 shares during the last quarter. MGO One Seven LLC grew its stake in shares of General Dynamics by 6.8% in the 4th quarter. MGO One Seven LLC now owns 7,825 shares of the aerospace company's stock worth $2,062,000 after purchasing an additional 495 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of General Dynamics by 299.3% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 312,768 shares of the aerospace company's stock worth $82,411,000 after purchasing an additional 234,435 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GD shares. Citigroup lifted their target price on shares of General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Jefferies Financial Group set a $325.00 target price on shares of General Dynamics and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Susquehanna lifted their target price on shares of General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Cowen reaffirmed a "buy" rating on shares of General Dynamics in a research report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of General Dynamics from $284.00 to $345.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. 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. Based on data from MarketBeat.com, General Dynamics currently has an average rating of "Hold" and an average price target of $315.78.

General Dynamics Stock Performance

Shares of General Dynamics stock traded up $0.2960 on Monday, reaching $319.9060. The stock had a trading volume of 804,054 shares, compared to its average volume of 1,430,834. The business's 50-day moving average price is $302.55 and its two-hundred day moving average price is $279.52. 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 fifty-two week low of $239.20 and a fifty-two week high of $322.50. The stock has a market cap of $86.05 billion, a P/E ratio of 21.47, a price-to-earnings-growth ratio of 1.96 and a beta of 0.48.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The business had revenue of $13.04 billion during the quarter, compared to analysts' expectations of $12.13 billion. During the same period in the previous year, the company earned $3.26 earnings per share. General Dynamics's revenue for the quarter 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, sell-side analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, October 10th. General Dynamics's dividend payout ratio is presently 40.27%.

Insider Transactions at General Dynamics

In other news, EVP Mark Lagrand Burns sold 43,860 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $312.28, for a total value of $13,696,600.80. Following the sale, the executive vice president owned 39,875 shares of the company's stock, valued at approximately $12,452,165. This represents a 52.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William A. Moss sold 17,700 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $316.40, for a total transaction of $5,600,280.00. Following the completion of the sale, the vice president directly owned 16,627 shares in the company, valued at approximately $5,260,782.80. The trade was a 51.56% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 448,900 shares of company stock worth $135,121,890. 1.50% of the stock is currently owned by company insiders.

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.