Resona Asset Management Co. Ltd. Purchases 1,919 Shares of General Dynamics Corporation $GD

Resona Asset Management Co. Ltd. grew its holdings in shares of General Dynamics Corporation (NYSE:GD) by 2.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,475 shares of the aerospace company’s stock after purchasing an additional 1,919 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in General Dynamics were worth $25,496,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP grew its stake in General Dynamics by 783.3% in 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 in the last quarter. Nova Wealth Management Inc. bought a new position in shares of General Dynamics in the first quarter worth $33,000. NewSquare Capital LLC grew its position in shares of General Dynamics by 64.7% in the second quarter. NewSquare Capital LLC now owns 112 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 44 shares in the last quarter. Harbor Asset Planning Inc. bought a new stake in shares of General Dynamics during the 2nd quarter valued at $35,000. Finally, Access Investment Management LLC purchased a new stake in General Dynamics during the 2nd quarter worth about $35,000. Institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Down 0.7%

GD stock opened at $340.35 on Friday. The company has a market capitalization of $91.94 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 2.05 and a beta of 0.46. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.87 and a current ratio of 1.40. General Dynamics Corporation has a one year low of $239.20 and a one year high of $360.50. The company’s 50 day moving average price is $334.01 and its two-hundred day moving average price is $306.39.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Friday, October 24th. The aerospace company reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.19. General Dynamics had a return on equity of 18.27% and a net margin of 8.18%.The business had revenue of $12.91 billion for the quarter, compared to analyst estimates of $12.49 billion. During the same period last year, the company earned $3.35 EPS. General Dynamics’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, analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Phebe N. Novakovic sold 129,090 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the transaction, the chief executive officer owned 769,607 shares in the company, valued at $241,325,666.99. The trade was a 14.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher J. Brady sold 8,150 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was 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 approximately $7,328,685.24. This trade represents a 26.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 159,370 shares of company stock worth $50,143,516 over the last ninety days. 1.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GD shares. Morgan Stanley set a $385.00 target price on General Dynamics in a report on Monday, October 27th. Citigroup raised their price objective on shares of General Dynamics from $348.00 to $368.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Bank of America upped their target price on shares of General Dynamics from $370.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of General Dynamics in a research note on Wednesday, October 8th. Finally, Susquehanna boosted their price target on shares of General Dynamics from $365.00 to $406.00 and gave the company a “positive” rating in a research report on Monday, October 27th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $350.89.

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.