Sanders Morris Harris LLC Takes $1.16 Million Position in General Dynamics Corporation $GD

Sanders Morris Harris LLC acquired a new position in General Dynamics Corporation (NYSE:GD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,400 shares of the aerospace company’s stock, valued at approximately $1,159,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GD. Ameriprise Financial Inc. grew its position in General Dynamics by 34.8% in the first 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. Prudential Financial Inc. lifted its stake in shares of General Dynamics by 142.5% in the 2nd quarter. Prudential Financial Inc. now owns 438,311 shares of the aerospace company’s stock valued at $127,838,000 after purchasing an additional 257,534 shares during the last quarter. AQR Capital Management LLC boosted its holdings in General Dynamics by 43.0% in the second quarter. AQR Capital Management LLC now owns 762,168 shares of the aerospace company’s stock worth $222,294,000 after purchasing an additional 229,352 shares in the last quarter. Marshall Wace LLP bought a new stake in General Dynamics in the second quarter worth $66,599,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in General Dynamics by 55.5% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 589,899 shares of the aerospace company’s stock worth $172,050,000 after buying an additional 210,438 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GD. Sanford C. Bernstein boosted their price target on General Dynamics from $335.00 to $388.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 28th. Melius Research upgraded General Dynamics to a “strong-buy” rating in a report on Tuesday, October 28th. Vertical Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $400.00 target price for the company in a research report on Monday, October 27th. JPMorgan Chase & Co. lifted their price target on shares of General Dynamics from $345.00 to $380.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Finally, Wall Street Zen raised shares of General Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus target price of $358.25.

General Dynamics Stock Performance

Shares of NYSE GD opened at $337.42 on Wednesday. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $360.50. The company has a market cap of $91.14 billion, a P/E ratio of 21.87, a P/E/G ratio of 1.69 and a beta of 0.40. The business’s 50 day moving average is $340.87 and its two-hundred day moving average is $319.99. The company has a quick ratio of 0.87, a current ratio of 1.40 and a debt-to-equity ratio of 0.29.

General Dynamics (NYSE:GD) last announced its quarterly earnings data 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. The business 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%. General Dynamics’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company posted $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 EPS for the current year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Stockholders of record on Friday, January 16th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. General Dynamics’s dividend payout ratio is currently 38.89%.

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.