Castle Rock Wealth Management LLC Has $350,000 Holdings in General Dynamics Corporation $GD

Castle Rock Wealth Management LLC cut its position in General Dynamics Corporation (NYSE:GD) by 22.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,175 shares of the aerospace company’s stock after selling 336 shares during the quarter. Castle Rock Wealth Management LLC’s holdings in General Dynamics were worth $350,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Inlight Wealth Management LLC bought a new stake in General Dynamics in the 1st quarter valued at $26,000. Smallwood Wealth Investment Management LLC bought a new stake in General Dynamics in the 1st quarter valued at $27,000. Quarry LP boosted its holdings in General Dynamics by 783.3% in the 1st quarter. Quarry LP now owns 106 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 94 shares during the period. Abound Financial LLC bought a new stake in General Dynamics in the 1st quarter valued at $32,000. Finally, Nova Wealth Management Inc. bought a new stake in General Dynamics in the 1st quarter valued at $33,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Trading Up 0.9%

Shares of GD stock opened at $346.45 on Thursday. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $347.37. The company has a market capitalization of $93.19 billion, a P/E ratio of 23.25, a P/E/G ratio of 2.10 and a beta of 0.47. The firm has a 50-day moving average price of $323.85 and a 200 day moving average price of $295.77. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The firm had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. During the same period last year, the firm posted $3.26 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Research analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company 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 dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics’s dividend payout ratio (DPR) is currently 40.27%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Robert W. Baird increased their price target on shares of General Dynamics from $283.00 to $350.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Barclays raised their price objective on shares of General Dynamics from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $400.00 price objective on shares of General Dynamics in a report on Wednesday. TD Cowen raised their price objective on shares of General Dynamics from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, June 25th. Finally, Sanford C. Bernstein set a $314.00 price objective on shares of General Dynamics and gave the stock a “market perform” rating in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $319.00.

Insider Activity

In other General Dynamics news, EVP Marguerite Amy Gilliland sold 33,740 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $315.20, for a total value of $10,634,848.00. Following the completion of the sale, the executive vice president owned 45,192 shares in the company, valued at approximately $14,244,518.40. This trade represents a 42.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Phebe N. Novakovic sold 129,090 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the completion of the sale, the chief executive officer owned 769,607 shares of the company’s stock, valued at $241,325,666.99. The trade was a 14.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 275,020 shares of company stock worth $86,414,503 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

General Dynamics Company 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.