Carnegie Investment Counsel Buys 822 Shares of General Dynamics Corporation $GD

Carnegie Investment Counsel raised its stake in General Dynamics Corporation (NYSE:GD) by 9.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 9,493 shares of the aerospace company’s stock after acquiring an additional 822 shares during the quarter. Carnegie Investment Counsel’s holdings in General Dynamics were worth $2,769,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position 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 acquiring an additional 256,687 shares in the last quarter. Ameriprise Financial Inc. increased its position 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 acquiring an additional 709,782 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position 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 acquiring an additional 5,313 shares in the last quarter. Boston Partners grew its position in General Dynamics by 7.9% in the 1st 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 in the last quarter. Finally, Deutsche Bank AG grew its position in General Dynamics by 120.9% in the 1st quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company’s stock worth $343,866,000 after purchasing an additional 690,349 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Up 2.6%

NYSE:GD opened at $350.22 on Friday. The firm has a 50-day simple moving average of $329.49 and a two-hundred day simple moving average of $301.72. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $360.50. The firm has a market cap of $94.20 billion, a P/E ratio of 23.50, a P/E/G ratio of 2.10 and a beta of 0.47. 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) last posted its quarterly earnings data on Friday, October 24th. The aerospace company reported $3.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.69 by $0.19. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The company had revenue of $12.91 billion for the quarter, compared to the consensus estimate of $12.49 billion. During the same quarter last year, the firm posted $3.35 earnings per share. The firm’s revenue was up 10.6% compared to the same quarter last year. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. Analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, October 10th. General Dynamics’s dividend payout ratio is 40.27%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Jefferies Financial Group set a $325.00 target price on shares of General Dynamics and gave the company a “hold” rating in a research note on Wednesday, July 9th. Susquehanna boosted their target price on shares of General Dynamics from $315.00 to $365.00 and gave the company a “positive” rating in a research note on Thursday, July 24th. Robert W. Baird boosted their target price on shares of General Dynamics from $283.00 to $350.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. UBS Group upped their price target on shares of General Dynamics from $309.00 to $333.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. increased their price target on shares of General Dynamics from $284.00 to $345.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, General Dynamics currently has an average rating of “Hold” and an average price target of $327.44.

Insider Buying and Selling

In other news, EVP Marguerite Amy Gilliland sold 33,740 shares of General Dynamics stock in a transaction 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 transaction, the executive vice president owned 45,192 shares in the company, valued at $14,244,518.40. The trade was a 42.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Phebe N. Novakovic sold 129,090 shares of General Dynamics stock in a transaction on Monday, August 18th. The stock was sold at an average price of $313.57, for a total value of $40,478,751.30. Following the transaction, the chief executive officer owned 769,607 shares in the company, valued at approximately $241,325,666.99. This represents a 14.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 242,460 shares of company stock worth $76,192,291 in the last quarter. 1.50% of the stock is currently owned by corporate insiders.

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.