Essex LLC Boosts Holdings in General Dynamics Corporation $GD

Essex LLC lifted its holdings in General Dynamics Corporation (NYSE:GD) by 0.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 11,926 shares of the aerospace company’s stock after acquiring an additional 47 shares during the quarter. Essex LLC’s holdings in General Dynamics were worth $3,478,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in shares of General Dynamics by 4.9% in the first quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company’s stock worth $1,499,819,000 after buying an additional 256,687 shares during the period. Ameriprise Financial Inc. grew its position in General Dynamics by 34.8% during the 1st 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 during the last quarter. Charles Schwab Investment Management Inc. increased its stake in General Dynamics by 0.3% in the 1st 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. Boston Partners lifted its position in General Dynamics by 7.9% in the first quarter. Boston Partners now owns 1,296,497 shares of the aerospace company’s stock valued at $353,558,000 after purchasing an additional 94,537 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of General Dynamics by 120.9% during the first quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company’s stock valued at $343,866,000 after purchasing an additional 690,349 shares during the period. Institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

GD stock opened at $335.52 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $347.37. The firm has a 50-day moving average of $325.81 and a 200 day moving average of $297.86. The company has a market cap of $90.25 billion, a P/E ratio of 22.52, a PEG ratio of 2.06 and a beta of 0.47.

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

General Dynamics Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. General Dynamics’s dividend payout ratio is 40.27%.

Insider Buying and Selling at General Dynamics

In related news, EVP Mark Lagrand Burns sold 43,860 shares of General Dynamics stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the completion of the transaction, the executive vice president directly owned 39,875 shares of the company’s stock, valued at $12,452,165. This trade represents a 52.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Christopher J. Brady sold 8,150 shares of the company’s stock in a transaction dated 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 completion of the sale, the vice president owned 22,818 shares in the company, 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. In the last three months, insiders have sold 275,020 shares of company stock valued at $86,414,503. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Jefferies Financial Group set a $325.00 price target on shares of General Dynamics and gave the company a “hold” rating in a report on Wednesday, July 9th. Citigroup upped their price objective on shares of General Dynamics from $348.00 to $368.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Seaport Res Ptn upgraded shares of General Dynamics from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. Susquehanna upped their price target on General Dynamics from $315.00 to $365.00 and gave the company a “positive” rating in a research report on Thursday, July 24th. Finally, Cowen reiterated a “buy” rating on shares of General Dynamics in a report on Wednesday, June 25th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, General Dynamics presently has an average rating of “Hold” and a consensus target price of $324.11.

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.