Thurston Springer Miller Herd & Titak Inc. Grows Holdings in General Dynamics Corporation $GD

Thurston Springer Miller Herd & Titak Inc. increased its position in shares of General Dynamics Corporation (NYSE:GD) by 15.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,244 shares of the aerospace company’s stock after purchasing an additional 1,948 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in General Dynamics were worth $4,154,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GD. Brighton Jones LLC boosted its holdings in General Dynamics by 16.9% during the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company’s stock worth $760,000 after purchasing an additional 417 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings in General Dynamics by 19.6% during the fourth quarter. Rafferty Asset Management LLC now owns 47,632 shares of the aerospace company’s stock worth $12,551,000 after purchasing an additional 7,812 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its holdings in General Dynamics by 1.1% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 7,547 shares of the aerospace company’s stock worth $1,989,000 after purchasing an additional 81 shares during the last quarter. Shell Asset Management Co. raised its position in General Dynamics by 149.9% in the fourth quarter. Shell Asset Management Co. now owns 4,061 shares of the aerospace company’s stock worth $1,070,000 after acquiring an additional 2,436 shares during the period. Finally, Toronto Dominion Bank raised its position in General Dynamics by 8.4% in the fourth quarter. Toronto Dominion Bank now owns 134,806 shares of the aerospace company’s stock worth $35,520,000 after acquiring an additional 10,459 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

NYSE GD opened at $326.23 on Friday. The company’s 50 day moving average is $313.76 and its 200-day moving average is $287.21. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32. The firm has a market cap of $87.75 billion, a P/E ratio of 21.89, a price-to-earnings-growth ratio of 2.02 and a beta of 0.50. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $330.18.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.27. The business had revenue of $13.04 billion for the quarter, compared to analyst estimates of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. General Dynamics’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Sell-side analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics’s dividend payout ratio is 40.27%.

Insider Buying and Selling at General Dynamics

In related news, CEO Phebe N. Novakovic sold 129,090 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the sale, the chief executive officer owned 769,607 shares of the company’s stock, valued at approximately $241,325,666.99. This represents a 14.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $315.20, for a total transaction of $10,634,848.00. Following the sale, the executive vice president directly owned 45,192 shares in the company, valued at $14,244,518.40. This trade represents a 42.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 279,439 shares of company stock worth $87,495,956 in the last ninety days. Insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on GD shares. Robert W. Baird lifted their price objective on shares of General Dynamics from $283.00 to $350.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. lifted their price objective on shares of General Dynamics from $284.00 to $345.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Susquehanna lifted their price objective on shares of General Dynamics from $315.00 to $365.00 and gave the stock a “positive” rating in a research report on Thursday, July 24th. TD Cowen lifted their price objective on shares of General Dynamics from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, June 25th. Finally, Wolfe Research raised shares of General Dynamics from a “peer perform” rating to an “outperform” rating and set a $360.00 price objective on the stock in a research report on Thursday, July 24th. Nine investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $315.78.

About General Dynamics

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.