DAVENPORT & Co LLC Grows Stock Holdings in General Dynamics Corporation $GD

DAVENPORT & Co LLC lifted its position in General Dynamics Corporation (NYSE:GD) by 0.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,509 shares of the aerospace company’s stock after purchasing an additional 110 shares during the quarter. DAVENPORT & Co LLC’s holdings in General Dynamics were worth $9,772,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GD. Cowen reissued a “buy” rating on shares of General Dynamics in a research note on Wednesday, June 25th. Wolfe Research upgraded General Dynamics from a “peer perform” rating to an “outperform” rating and set a $360.00 price objective for the company in a research report on Thursday, July 24th. Sanford C. Bernstein set a $314.00 target price on shares of General Dynamics and gave the stock a “market perform” rating in a report on Monday, July 14th. JPMorgan Chase & Co. upped their price target on shares of General Dynamics from $284.00 to $345.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of General Dynamics from a “hold” rating to a “buy” rating and raised their price target for the stock from $298.00 to $342.00 in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $315.78.

General Dynamics Stock Up 0.9%

Shares of General Dynamics stock opened at $346.60 on Tuesday. 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 Corporation has a 12-month low of $239.20 and a 12-month high of $347.37. The company has a market cap of $93.23 billion, a P/E ratio of 23.26, a PEG ratio of 2.10 and a beta of 0.47. The company’s fifty day simple moving average is $322.58 and its two-hundred day simple moving average is $295.09.

General Dynamics (NYSE:GD) last announced 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. 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 for the quarter, compared to analyst estimates of $12.13 billion. During the same quarter in the previous year, the firm posted $3.26 EPS. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Research analysts anticipate that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Mark Lagrand Burns sold 43,860 shares of General Dynamics stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the sale, the executive vice president directly owned 39,875 shares in the company, valued at $12,452,165. The trade was a 52.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Christopher J. Brady sold 8,150 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $321.18, for a total value of $2,617,617.00. Following the completion of the transaction, the vice president owned 22,818 shares of the company’s stock, valued at approximately $7,328,685.24. This trade represents a 26.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 275,020 shares of company stock worth $86,414,503 over the last quarter. Company insiders own 1.50% of the company’s stock.

General Dynamics 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.