City State Bank Acquires 86 Shares of General Dynamics Corporation $GD

City State Bank boosted its holdings in General Dynamics Corporation (NYSE:GD) by 10.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 898 shares of the aerospace company’s stock after acquiring an additional 86 shares during the quarter. City State Bank’s holdings in General Dynamics were worth $262,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of GD. Smallwood Wealth Investment Management LLC bought a new position in shares of General Dynamics during the 1st quarter valued at $27,000. Quarry LP lifted its holdings in shares of General Dynamics by 783.3% during the 1st quarter. Quarry LP now owns 106 shares of the aerospace company’s stock valued at $29,000 after buying an additional 94 shares during the period. Abound Financial LLC bought a new position in shares of General Dynamics during the 1st quarter valued at $32,000. Nova Wealth Management Inc. bought a new position in General Dynamics in the 1st quarter worth $33,000. Finally, Harbor Asset Planning Inc. bought a new position in General Dynamics in the 2nd quarter worth $35,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Up 2.6%

Shares of NYSE:GD opened at $350.22 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $360.50. The company has a 50-day moving average price of $329.49 and a 200 day moving average price of $301.72. The company has a market cap of $94.20 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 2.10 and a beta of 0.47.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Friday, October 24th. The aerospace company reported $3.88 EPS 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 during the quarter, compared to the consensus estimate of $12.49 billion. During the same quarter last year, the firm earned $3.35 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. As a group, equities research analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

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

Insider Transactions at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 8,150 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $321.18, for a total value of $2,617,617.00. Following the completion of the sale, the vice president owned 22,818 shares of the company’s stock, valued at $7,328,685.24. This trade represents 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 available at this hyperlink. Also, EVP Mark Lagrand Burns sold 43,860 shares of the firm’s stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the completion of the sale, the executive vice president directly owned 39,875 shares of the company’s stock, valued at approximately $12,452,165. The trade was a 52.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 242,460 shares of company stock worth $76,192,291 in the last quarter. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on GD. Barclays raised their target price on General Dynamics from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. raised their target price on General Dynamics from $284.00 to $345.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Citigroup raised their target price on General Dynamics from $348.00 to $368.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of General Dynamics in a research note on Wednesday, October 8th. Finally, UBS Group increased their price target on General Dynamics from $309.00 to $333.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. One 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $327.44.

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.