GK Wealth Management LLC Makes New $205,000 Investment in General Dynamics Corporation $GD

GK Wealth Management LLC purchased a new position in General Dynamics Corporation (NYSE:GD) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 753 shares of the aerospace company’s stock, valued at approximately $205,000.

Several other institutional investors have also recently modified their holdings of GD. GAMMA Investing LLC raised its stake in shares of General Dynamics by 34,578.2% in the first quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company’s stock worth $339,253,000 after purchasing an additional 1,241,011 shares during the last quarter. Nuveen LLC acquired a new position in General Dynamics during the first quarter worth $272,464,000. Ameriprise Financial Inc. boosted its stake in 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 buying an additional 709,782 shares during the last quarter. Deutsche Bank AG increased its holdings in General Dynamics by 120.9% during 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 during the period. Finally, Voloridge Investment Management LLC boosted its holdings in General Dynamics by 6,387.2% in the fourth quarter. Voloridge Investment Management LLC now owns 401,236 shares of the aerospace company’s stock valued at $105,722,000 after purchasing an additional 395,051 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on GD. 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 research note on Thursday, July 24th. Wolfe Research upgraded shares of General Dynamics from a “peer perform” rating to an “outperform” rating and set a $360.00 target price on the stock in a research report on Thursday, July 24th. Cowen reaffirmed a “buy” rating on shares of General Dynamics in a report on Wednesday, June 25th. JPMorgan Chase & Co. increased their price target on General Dynamics from $284.00 to $345.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Finally, Sanford C. Bernstein set a $314.00 price target on General Dynamics and gave the stock a “market perform” rating in a report on Monday, July 14th. Nine research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $315.78.

General Dynamics Price Performance

General Dynamics stock opened at $322.84 on Thursday. The company has a market cap of $86.84 billion, a P/E ratio of 21.67, a price-to-earnings-growth ratio of 1.97 and a beta of 0.50. 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 Corporation has a one year low of $239.20 and a one year high of $326.02. The business has a fifty day moving average of $312.40 and a two-hundred day moving average of $285.84.

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

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, October 10th. General Dynamics’s dividend payout ratio (DPR) is currently 40.27%.

Insider Activity

In related news, EVP Marguerite Amy Gilliland sold 33,740 shares of General Dynamics stock in a transaction dated 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 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Phebe N. Novakovic sold 129,090 shares of General Dynamics stock in a transaction dated 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 sale, the chief executive officer owned 769,607 shares of the company’s stock, 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 a total of 458,260 shares of company stock worth $138,125,545 in the last quarter. Corporate insiders own 1.50% of the company’s stock.

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.