Marks Group Wealth Management Inc Sells 367 Shares of General Dynamics Corporation $GD

Marks Group Wealth Management Inc lowered its stake in General Dynamics Corporation (NYSE:GD) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 31,253 shares of the aerospace company’s stock after selling 367 shares during the period. Marks Group Wealth Management Inc’s holdings in General Dynamics were worth $9,115,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of GD. Nuveen LLC bought a new position in shares of General Dynamics in the first quarter worth $272,464,000. 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 valued at $749,252,000 after acquiring an additional 709,782 shares during the last quarter. Deutsche Bank AG grew its position in General Dynamics by 120.9% in 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. JPMorgan Chase & Co. grew its position in General Dynamics by 4.9% in the first quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company’s stock valued at $1,499,819,000 after acquiring an additional 256,687 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in General Dynamics by 1,488.8% in the first quarter. SG Americas Securities LLC now owns 221,484 shares of the aerospace company’s stock valued at $60,372,000 after acquiring an additional 207,544 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on GD shares. Cowen reiterated a “buy” rating on shares of General Dynamics in a research report on Wednesday, June 25th. Susquehanna lifted their target price on General Dynamics from $315.00 to $365.00 and gave the company a “positive” rating in a research report on Thursday, July 24th. Wolfe Research upgraded General Dynamics from a “peer perform” rating to an “outperform” rating and set a $360.00 target price on the stock in a research report on Thursday, July 24th. Sanford C. Bernstein set a $314.00 target price on General Dynamics and gave the company a “market perform” rating in a research report on Monday, July 14th. Finally, Deutsche Bank Aktiengesellschaft raised General Dynamics from a “hold” rating to a “buy” rating and lifted their price target for the company from $298.00 to $342.00 in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, General Dynamics presently has an average rating of “Hold” and a consensus target price of $315.78.

Insider Transactions at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 8,150 shares of the business’s 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 transaction, the vice president directly owned 22,818 shares of the company’s stock, valued at approximately $7,328,685.24. The trade was a 26.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Phebe N. Novakovic sold 129,090 shares of the business’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 value 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 275,020 shares of company stock valued at $86,414,503. 1.50% of the stock is owned by insiders.

General Dynamics Price Performance

General Dynamics stock opened at $343.76 on Monday. The stock’s 50 day moving average is $321.91 and its 200 day moving average is $294.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. The firm has a market cap of $92.47 billion, a P/E ratio of 23.07, a P/E/G ratio of 2.10 and a beta of 0.47. General Dynamics Corporation has a one year low of $239.20 and a one year high of $345.22.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.27. The company had revenue of $13.04 billion for the quarter, compared to analyst estimates of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. As a group, research 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, November 14th. Investors of record on Friday, October 10th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics’s payout ratio is currently 40.27%.

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.