Trajan Wealth LLC Increases Holdings in General Dynamics Corporation (NYSE:GD)

Key Points

• Trajan Wealth LLC increased its holdings in General Dynamics Corporation by 17.0%, owning 34,274 shares valued at approximately $9.34 million following a purchase of 4,983 shares.
• During the first quarter, several large investors, including Longfellow Investment Management, made significant increases in their stakes in General Dynamics, reflecting strong institutional interest in the stock.
• General Dynamics announced a quarterly dividend of $1.50 per share, with a payout ratio of 40.27%, highlighting its commitment to returning capital to shareholders amidst strong quarterly earnings results.

Trajan Wealth LLC boosted its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 17.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,274 shares of the aerospace company's stock after purchasing an additional 4,983 shares during the period. Trajan Wealth LLC's holdings in General Dynamics were worth $9,342,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Longfellow Investment Management Co. LLC increased its stake in General Dynamics by 24,150.0% in the 1st quarter. Longfellow Investment Management Co. LLC now owns 3,395 shares of the aerospace company's stock worth $925,000 after purchasing an additional 3,381 shares during the period. CCM Investment Group LLC purchased a new position in General Dynamics in the 1st quarter worth approximately $3,980,000. Nuveen LLC purchased a new position in General Dynamics in the 1st quarter worth approximately $272,464,000. Cooper Financial Group grew its position in shares of General Dynamics by 7.9% in the 1st quarter. Cooper Financial Group now owns 1,358 shares of the aerospace company's stock worth $370,000 after buying an additional 99 shares during the last quarter. Finally, Harvest Investment Advisors LLC grew its position in shares of General Dynamics by 2.6% in the 1st quarter. Harvest Investment Advisors LLC now owns 7,013 shares of the aerospace company's stock worth $1,912,000 after buying an additional 178 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Leon Rudy F. De sold 5,490 shares of General Dynamics stock in a transaction on Monday, July 28th. The stock was sold at an average price of $312.81, for a total transaction of $1,717,326.90. Following the completion of the transaction, the director owned 5,483 shares in the company, valued at approximately $1,715,137.23. The trade was a 50.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Phebe N. Novakovic sold 178,821 shares of the business's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $283.13, for a total value of $50,629,589.73. Following the completion of the transaction, the chief executive officer owned 769,607 shares of the company's stock, valued at $217,898,829.91. This represents a 18.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 268,370 shares of company stock worth $78,408,011. 1.50% of the stock is owned by insiders.

General Dynamics Stock Up 0.3%

Shares of NYSE:GD opened at $314.95 on Tuesday. The stock has a fifty day simple moving average of $295.57 and a two-hundred day simple moving average of $275.90. The stock has a market capitalization of $84.72 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 1.93 and a beta of 0.48. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $322.50. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.47 by $0.27. The business had revenue of $13.04 billion during the quarter, compared to analysts' expectations of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%. The firm's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.26 earnings per share. On average, research analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business 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 dividend of $1.50 per share. The ex-dividend date is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. General Dynamics's payout ratio is presently 40.27%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GD. Robert W. Baird lifted their price objective on General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Wolfe Research upgraded General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price objective on the stock in a research report on Thursday, July 24th. Argus set a $295.00 price objective on General Dynamics in a research report on Tuesday, May 6th. Susquehanna lifted their price objective on General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Finally, TD Securities lifted their price objective on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, General Dynamics presently has an average rating of "Hold" and an average target price of $315.78.

About General Dynamics

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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