Pines Wealth Management LLC Has $1.29 Million Stock Position in General Dynamics Corporation $GD

Pines Wealth Management LLC raised its stake in General Dynamics Corporation (NYSE:GD) by 5.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,387 shares of the aerospace company’s stock after buying an additional 217 shares during the quarter. Pines Wealth Management LLC’s holdings in General Dynamics were worth $1,293,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Pallas Capital Advisors LLC lifted its position in General Dynamics by 185.2% in the 2nd quarter. Pallas Capital Advisors LLC now owns 2,792 shares of the aerospace company’s stock valued at $814,000 after acquiring an additional 1,813 shares in the last quarter. Goelzer Investment Management Inc. raised its stake in shares of General Dynamics by 328.5% in the 2nd quarter. Goelzer Investment Management Inc. now owns 7,875 shares of the aerospace company’s stock valued at $2,297,000 after purchasing an additional 6,037 shares during the period. Aaron Wealth Advisors LLC lifted its holdings in shares of General Dynamics by 16.3% in the second quarter. Aaron Wealth Advisors LLC now owns 2,180 shares of the aerospace company’s stock valued at $636,000 after purchasing an additional 305 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. boosted its position in shares of General Dynamics by 69.3% during the second quarter. Financiere des Professionnels Fonds d investissement inc. now owns 17,939 shares of the aerospace company’s stock worth $5,232,000 after buying an additional 7,341 shares during the period. Finally, Keystone Wealth Services LLC bought a new position in shares of General Dynamics during the second quarter worth about $202,000. Institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Robert W. Baird boosted their target price on General Dynamics from $283.00 to $350.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Sanford C. Bernstein set a $314.00 price objective on shares of General Dynamics and gave the stock a “market perform” rating in a research report on Monday, July 14th. Jefferies Financial Group set a $325.00 target price on shares of General Dynamics and gave the stock a “hold” rating in a report on Wednesday, July 9th. UBS Group lifted 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, Cowen restated a “buy” rating on shares of General Dynamics in a research note on Wednesday, June 25th. Nine research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, General Dynamics presently has a consensus rating of “Hold” and an average target price of $315.78.

General Dynamics Price Performance

Shares of NYSE:GD opened at $326.68 on Wednesday. The firm has a 50 day moving average of $314.99 and a 200-day moving average of $288.24. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $330.18. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $87.87 billion, a PE ratio of 21.92, a PEG ratio of 2.01 and a beta of 0.50.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) 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 business had revenue of $13.04 billion for the quarter, compared to analysts’ expectations of $12.13 billion. During the same period last year, the firm posted $3.26 earnings per share. The firm’s quarterly revenue 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. On average, equities research analysts predict that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 annualized dividend and a yield of 1.8%. General Dynamics’s dividend payout ratio (DPR) is 40.27%.

Insider Transactions at General Dynamics

In related news, CEO Phebe N. Novakovic sold 129,090 shares of General Dynamics stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 769,607 shares of the company’s stock, valued at approximately $241,325,666.99. The trade was a 14.36% decrease in their position. The sale 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 that occurred on Monday, August 25th. The shares were sold at an average price of $321.18, for a total transaction of $2,617,617.00. Following the completion of the transaction, the vice president directly owned 22,818 shares of the company’s stock, valued at approximately $7,328,685.24. The trade was a 26.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 275,020 shares of company stock valued at $86,414,503. 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.