Carnegie Investment Counsel Increases Position in General Dynamics Corporation $GD

Carnegie Investment Counsel raised its stake in General Dynamics Corporation (NYSE:GD) by 9.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,493 shares of the aerospace company’s stock after acquiring an additional 822 shares during the period. Carnegie Investment Counsel’s holdings in General Dynamics were worth $2,769,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in General Dynamics by 4.9% during the 1st quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company’s stock valued at $1,499,819,000 after purchasing an additional 256,687 shares during the period. Ameriprise Financial Inc. boosted its holdings 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 valued at $749,252,000 after acquiring an additional 709,782 shares during the period. Charles Schwab Investment Management Inc. grew its position in General Dynamics by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,582,388 shares of the aerospace company’s stock worth $431,327,000 after buying an additional 5,313 shares in the last quarter. Boston Partners grew its position in General Dynamics by 7.9% during the first quarter. Boston Partners now owns 1,296,497 shares of the aerospace company’s stock worth $353,558,000 after buying an additional 94,537 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in General Dynamics by 120.9% during the first 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. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GD has been the subject of several research analyst reports. Seaport Res Ptn upgraded shares of General Dynamics from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 29th. Susquehanna increased their price target on shares of General Dynamics from $315.00 to $365.00 and gave the company a “positive” rating in a report on Thursday, July 24th. 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 report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $400.00 price target on shares of General Dynamics in a report on Wednesday, October 8th. Finally, Morgan Stanley increased their target price on shares of General Dynamics from $328.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, General Dynamics currently has a consensus rating of “Hold” and an average target price of $327.44.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $350.22 on Friday. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $360.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. The firm has a market capitalization of $94.20 billion, a P/E ratio of 23.50, a P/E/G ratio of 2.10 and a beta of 0.47. The company’s 50 day moving average price is $329.49 and its two-hundred day moving average price is $301.72.

General Dynamics (NYSE:GD) last issued its earnings results on Friday, October 24th. The aerospace company reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates of $3.69 by $0.19. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The firm had revenue of $12.91 billion for the quarter, compared to analyst estimates of $12.49 billion. During the same quarter last year, the business posted $3.35 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. On average, equities analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, October 10th. General Dynamics’s payout ratio is 40.27%.

Insider Activity at General Dynamics

In other news, VP Christopher J. Brady sold 8,150 shares of General Dynamics stock in a transaction 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 transaction, the vice president owned 22,818 shares in the company, valued at approximately $7,328,685.24. The trade was a 26.32% 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, EVP Marguerite Amy Gilliland sold 33,740 shares of General Dynamics stock in a transaction on 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold 242,460 shares of company stock valued at $76,192,291 in the last quarter. 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.