Westpac Banking Corp Buys 801 Shares of General Dynamics Corporation $GD

Westpac Banking Corp lifted its stake in General Dynamics Corporation (NYSE:GD) by 142.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,363 shares of the aerospace company’s stock after acquiring an additional 801 shares during the quarter. Westpac Banking Corp’s holdings in General Dynamics were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in General Dynamics by 4.9% in the 1st quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company’s stock worth $1,499,819,000 after purchasing an additional 256,687 shares during the period. Ameriprise Financial Inc. boosted its stake 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 buying an additional 709,782 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of General Dynamics by 0.3% in 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 acquiring an additional 5,313 shares during the period. Boston Partners increased its position in General Dynamics by 9.0% during the second quarter. Boston Partners now owns 1,413,021 shares of the aerospace company’s stock valued at $413,812,000 after acquiring an additional 116,524 shares during the last quarter. Finally, Deutsche Bank AG increased its position 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 valued at $343,866,000 after acquiring an additional 690,349 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Down 0.7%

Shares of GD opened at $341.83 on Tuesday. The firm has a market cap of $92.33 billion, a P/E ratio of 22.15, 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 current ratio of 1.40 and a quick ratio of 0.87. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $360.50. The company has a 50 day simple moving average of $337.29 and a two-hundred day simple moving average of $310.58.

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

Wall Street Analysts Forecast Growth

GD has been the topic of several research reports. Morgan Stanley set a $385.00 target price on General Dynamics in a research report on Monday, October 27th. Citigroup raised their target price on shares of General Dynamics from $348.00 to $368.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Robert W. Baird set a $390.00 price target on shares of General Dynamics in a report on Monday, October 27th. Melius Research upgraded shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 28th. Finally, Wall Street Zen upgraded shares of General Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $350.89.

Insider Buying and Selling at General Dynamics

In related news, 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 transaction of $2,617,617.00. Following the completion of the transaction, the vice president directly owned 22,818 shares of the company’s stock, valued at approximately $7,328,685.24. This represents a 26.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Malcolm sold 3,220 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $329.45, for a total value of $1,060,829.00. Following the transaction, the director 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 SEC filing for this sale provides additional information. In the last quarter, insiders sold 12,580 shares of company stock worth $4,064,484. Corporate insiders own 1.50% of the company’s stock.

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.