Pinnacle Associates Ltd. Has $12.04 Million Position in General Dynamics Corporation $GD

Pinnacle Associates Ltd. decreased its position in General Dynamics Corporation (NYSE:GD) by 2.6% during the 2nd quarter, Holdings Channel reports. The firm owned 41,270 shares of the aerospace company’s stock after selling 1,094 shares during the quarter. Pinnacle Associates Ltd.’s holdings in General Dynamics were worth $12,037,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in General Dynamics by 4.9% during the first quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company’s stock worth $1,499,819,000 after buying an additional 256,687 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of General Dynamics by 34.8% in the 1st quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company’s stock worth $749,252,000 after acquiring an additional 709,782 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in General Dynamics by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,582,388 shares of the aerospace company’s stock worth $431,327,000 after acquiring an additional 5,313 shares during the last quarter. Boston Partners increased its holdings in General Dynamics by 7.9% during the 1st quarter. Boston Partners now owns 1,296,497 shares of the aerospace company’s stock valued at $353,558,000 after purchasing an additional 94,537 shares in the last quarter. Finally, Deutsche Bank AG raised its position in General Dynamics by 120.9% in the 1st quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company’s stock valued at $343,866,000 after purchasing an additional 690,349 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

General Dynamics Trading Up 0.0%

GD opened at $344.81 on Friday. The firm has a 50 day simple moving average of $332.50 and a 200 day simple moving average of $304.56. 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 market cap of $93.14 billion, a price-to-earnings ratio of 22.35, a price-to-earnings-growth ratio of 2.05 and a beta of 0.47. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.40 and a quick ratio of 0.87.

General Dynamics (NYSE:GD) last released its earnings results on Friday, October 24th. The aerospace company reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.69 by $0.19. The firm had revenue of $12.91 billion during the quarter, compared to analyst estimates of $12.49 billion. General Dynamics had a net margin of 8.18% and a return on equity of 18.27%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.35 EPS. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. On average, sell-side analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders 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 1.7%. General Dynamics’s dividend payout ratio is presently 38.89%.

Analyst Ratings Changes

Several brokerages have recently commented on GD. Jefferies Financial Group set a $325.00 target price on General Dynamics and gave the stock a “hold” rating in a report on Wednesday, July 9th. Barclays increased their price objective on shares of General Dynamics from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. UBS Group boosted their target price on shares of General Dynamics from $369.00 to $381.00 and gave the stock a “neutral” rating in a research note on Monday. JPMorgan Chase & Co. increased their price target on shares of General Dynamics from $345.00 to $380.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Sanford C. Bernstein boosted their price objective on shares of General Dynamics from $335.00 to $388.00 and gave the stock a “market perform” rating in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and a consensus price target of $350.89.

Insider Activity

In other news, Director Mark Malcolm sold 3,220 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $329.45, for a total value of $1,060,829.00. Following the completion of the sale, the director directly owned 10,186 shares of the company’s stock, valued at $3,355,777.70. This represents a 24.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $315.20, for a total value of $10,634,848.00. Following the completion of the sale, the executive vice president directly owned 45,192 shares of the company’s stock, valued at approximately $14,244,518.40. This trade represents a 42.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 193,110 shares of company stock valued at $60,778,364. Insiders own 1.50% of the company’s stock.

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.