Canopy Partners LLC Purchases 45 Shares of General Dynamics Corporation $GD

Canopy Partners LLC lifted its stake in shares of General Dynamics Corporation (NYSE:GD) by 5.7% during the second quarter, HoldingsChannel.com reports. The firm owned 831 shares of the aerospace company’s stock after purchasing an additional 45 shares during the quarter. Canopy Partners LLC’s holdings in General Dynamics were worth $242,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Shell Asset Management Co. increased its stake in General Dynamics by 70.1% in the 2nd quarter. Shell Asset Management Co. now owns 6,781 shares of the aerospace company’s stock worth $1,978,000 after acquiring an additional 2,795 shares during the last quarter. KPP Advisory Services LLC increased its stake in General Dynamics by 6.4% in the 2nd quarter. KPP Advisory Services LLC now owns 1,801 shares of the aerospace company’s stock worth $525,000 after acquiring an additional 108 shares during the last quarter. Valeo Financial Advisors LLC increased its stake in General Dynamics by 13.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 7,884 shares of the aerospace company’s stock worth $2,299,000 after acquiring an additional 919 shares during the last quarter. DAVENPORT & Co LLC increased its stake in General Dynamics by 0.3% in the 2nd quarter. DAVENPORT & Co LLC now owns 33,509 shares of the aerospace company’s stock worth $9,772,000 after acquiring an additional 110 shares during the last quarter. Finally, Glass Wealth Management Co LLC increased its stake in General Dynamics by 1.3% in the 2nd quarter. Glass Wealth Management Co LLC now owns 5,965 shares of the aerospace company’s stock worth $1,740,000 after acquiring an additional 75 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Down 0.9%

GD stock opened at $343.47 on Wednesday. The business has a 50 day moving average of $323.16 and a 200 day moving average of $295.42. 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 Corporation has a twelve month low of $239.20 and a twelve month high of $347.37. The firm has a market cap of $92.39 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 2.12 and a beta of 0.47.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, beating the consensus estimate of $3.47 by $0.27. The business had revenue of $13.04 billion for 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 company’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the business posted $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. On average, research analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current fiscal 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 issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics’s payout ratio is 40.27%.

Insider Buying and Selling

In related news, VP William A. Moss sold 17,700 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $316.40, for a total value of $5,600,280.00. Following the completion of the sale, the vice president owned 16,627 shares in the company, valued at approximately $5,260,782.80. The trade was a 51.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Phebe N. Novakovic sold 129,090 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer directly owned 769,607 shares in the company, valued at approximately $241,325,666.99. The trade was a 14.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 275,020 shares of company stock valued at $86,414,503 in the last quarter. 1.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GD. Susquehanna upped their price objective on General Dynamics from $315.00 to $365.00 and gave the stock a “positive” rating in a report on Thursday, July 24th. Jefferies Financial Group set a $325.00 price objective on General Dynamics and gave the stock a “hold” rating in a report on Wednesday, July 9th. Barclays upped their price objective on General Dynamics from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Citigroup upped their price objective on General Dynamics from $348.00 to $368.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Finally, UBS Group upped their price objective on General Dynamics from $309.00 to $333.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. One investment 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $315.78.

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.