Wealthfront Advisers LLC Takes $10.57 Million Position in General Dynamics Corporation $GD

Key Points

• Wealthfront Advisers acquired a new $10.57 million position in General Dynamics during the second quarter, purchasing 29,847 shares. Institutional investors and hedge funds collectively own 86.14% of the company.
• General Dynamics reported stronger-than-expected quarterly results, with $4.24 in EPS and $14.09 billion in revenue; revenue increased 8.1% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $410.89.
• The company declared a quarterly dividend of $1.59 per share, equivalent to an annualized $6.36 payout and a 1.6% yield. Meanwhile, two senior executives sold shares, contributing to more than $38 million in insider sales over the past 90 days.

Wealthfront Advisers LLC acquired a new position in General Dynamics Corporation (NYSE:GD - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 29,847 shares of the aerospace company's stock, valued at approximately $10,573,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Foster & Motley Inc. bought a new position in General Dynamics in the 2nd quarter worth $6,126,000. Strategic Wealth Advisors LLC acquired a new stake in shares of General Dynamics in the second quarter valued at about $53,000. Main Street Financial Solutions LLC increased its stake in shares of General Dynamics by 43.2% in the second quarter. Main Street Financial Solutions LLC now owns 6,212 shares of the aerospace company's stock worth $2,200,000 after purchasing an additional 1,873 shares during the period. Rayburn West Financial Services LLC acquired a new position in shares of General Dynamics during the 2nd quarter worth about $2,512,000. Finally, First National Bank of Omaha acquired a new position in shares of General Dynamics during the 2nd quarter worth about $1,195,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Trading Down 0.4%

General Dynamics stock opened at $392.10 on Thursday. The business has a 50 day moving average price of $373.14 and a two-hundred day moving average price of $355.37. The company has a quick ratio of 0.96, a current ratio of 1.44 and a debt-to-equity ratio of 0.23. The stock has a market cap of $106.09 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 2.27 and a beta of 0.33. General Dynamics Corporation has a 12 month low of $306.77 and a 12 month high of $400.00.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The aerospace company reported $4.24 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.28. The company had revenue of $14.09 billion for the quarter, compared to analyst estimates of $13.52 billion. General Dynamics had a return on equity of 17.43% and a net margin of 8.18%.General Dynamics's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.74 EPS. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. As a group, equities analysts forecast that General Dynamics Corporation will post 16.97 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 9th will be paid a dividend of $1.59 per share. The ex-dividend date is Friday, October 9th. This represents a $6.36 dividend on an annualized basis and a yield of 1.6%. General Dynamics's payout ratio is currently 38.80%.

Analysts Set New Price Targets

GD has been the topic of a number of research analyst reports. DA Davidson lowered their target price on General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Sanford C. Bernstein reissued a "market perform" rating and issued a $421.00 price objective on shares of General Dynamics in a research report on Monday, August 10th. Royal Bank Of Canada raised their price objective on shares of General Dynamics from $385.00 to $410.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 30th. UBS Group boosted their target price on shares of General Dynamics from $366.00 to $395.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. Finally, TD Cowen increased their price target on shares of General Dynamics from $390.00 to $420.00 and gave the company a "buy" rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $410.89.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 51,568 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $382.58, for a total value of $19,728,885.44. Following the sale, the chief executive officer owned 766,457 shares of the company's stock, valued at $293,231,119.06. The trade was a 6.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Marguerite Amy Gilliland sold 43,180 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $378.04, for a total transaction of $16,323,767.20. Following the completion of the transaction, the executive vice president owned 44,767 shares of the company's stock, valued at approximately $16,923,716.68. This represents a 49.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 100,228 shares of company stock worth $38,052,853 over the last 90 days. Corporate insiders own 1.40% of the company's stock.

General Dynamics Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.

Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Corporation (NYSE:GD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source