WBI Investments LLC Acquires Shares of 787 General Dynamics Corporation $GD

Key Points

• WBI Investments LLC acquired 787 shares of General Dynamics Corporation, valued at approximately $215,000, signaling a new investment position during the first quarter.
• General Dynamics reported earnings per share of $3.74, exceeding analyst expectations, with revenue of $13.04 billion, reflecting an 8.9% increase year-over-year.
• The company announced a quarterly dividend of $1.50 per share, set to be paid on November 14th, representing an annualized yield of 1.8%.

WBI Investments LLC bought a new position in shares of General Dynamics Corporation (NYSE:GD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 787 shares of the aerospace company's stock, valued at approximately $215,000.

A number of other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake 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 purchasing an additional 256,687 shares during the period. Royal Bank of Canada increased its stake 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 purchasing an additional 145,978 shares during the period. Ameriprise Financial Inc. increased its stake in shares of General Dynamics by 34.8% during the first quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company's stock worth $749,252,000 after purchasing an additional 709,782 shares during the period. Charles Schwab Investment Management Inc. increased its stake 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 purchasing an additional 5,313 shares during the period. Finally, Boston Partners increased its stake 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 purchasing an additional 94,537 shares during the period. Institutional investors own 86.14% of the company's stock.

General Dynamics Trading Up 2.0%

Shares of GD stock opened at $329.60 on Friday. The stock's fifty day moving average price is $313.11 and its two-hundred day moving average price is $286.42. The company has a market cap of $88.66 billion, a PE ratio of 22.12, a P/E/G ratio of 1.98 and a beta of 0.50. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $330.00. 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 (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.27. The firm had revenue of $13.04 billion for the quarter, compared to the consensus estimate of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The company's revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Equities analysts predict that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics's dividend payout ratio (DPR) is currently 40.27%.

Insider Transactions at General Dynamics

In related news, VP Christopher J. Brady sold 8,150 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $321.18, for a total transaction of $2,617,617.00. Following the sale, the vice president owned 22,818 shares of the company's stock, valued at $7,328,685.24. This trade represents a 26.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Phebe N. Novakovic sold 129,090 shares of the firm's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $313.57, for a total value of $40,478,751.30. Following the sale, the chief executive officer directly owned 769,607 shares in the company, valued at approximately $241,325,666.99. This trade represents a 14.36% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 279,439 shares of company stock worth $87,495,956. 1.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GD. Sanford C. Bernstein set a $314.00 target price on General Dynamics and gave the stock a "market perform" rating in a research note on Monday, July 14th. Susquehanna raised their price objective on General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Robert W. Baird raised their price objective on General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. UBS Group raised their price objective on General Dynamics from $309.00 to $333.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, Cowen restated a "buy" rating on shares of General Dynamics in a research note on Wednesday, June 25th. Nine research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus 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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