Griffin Asset Management Inc. Has $2 Million Stock Position in General Dynamics Corporation $GD

Griffin Asset Management Inc. lifted its stake in General Dynamics Corporation (NYSE:GD) by 1.4% in the second quarter, HoldingsChannel reports. The firm owned 6,846 shares of the aerospace company’s stock after purchasing an additional 96 shares during the period. Griffin Asset Management Inc.’s holdings in General Dynamics were worth $1,997,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. boosted its position in General Dynamics by 4.9% during the 1st quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company’s stock worth $1,499,819,000 after acquiring an additional 256,687 shares during the period. Ameriprise Financial Inc. boosted its position in General Dynamics by 34.8% during the 1st 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 during the period. Charles Schwab Investment Management Inc. boosted its position in General Dynamics by 0.3% during the 1st 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 boosted its position in General Dynamics by 7.9% during the 1st quarter. Boston Partners now owns 1,296,497 shares of the aerospace company’s stock worth $353,558,000 after acquiring an additional 94,537 shares during the period. Finally, Deutsche Bank AG boosted its position in General Dynamics by 120.9% during the 1st quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company’s stock worth $343,866,000 after acquiring an additional 690,349 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Citigroup raised their price objective on General Dynamics from $348.00 to $368.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Jefferies Financial Group set a $325.00 price objective on General Dynamics and gave the stock a “hold” rating in a research report on Wednesday, July 9th. Sanford C. Bernstein set a $314.00 price objective on General Dynamics and gave the stock a “market perform” rating in a research report on Monday, July 14th. Seaport Res Ptn raised General Dynamics from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. Finally, The Goldman Sachs Group raised their price target on General Dynamics from $280.00 to $293.00 and gave the stock a “sell” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $324.11.

General Dynamics Stock Down 2.8%

Shares of GD stock opened at $333.03 on Monday. The stock’s 50 day simple moving average is $324.93 and its 200 day simple moving average is $297.14. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $347.37. The company has a market capitalization of $89.58 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 2.05 and a beta of 0.47.

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

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics’s payout ratio is currently 40.27%.

Insider Buying and Selling

In other General Dynamics news, EVP Mark Lagrand Burns sold 43,860 shares of General Dynamics stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $312.28, for a total value of $13,696,600.80. Following the transaction, the executive vice president directly owned 39,875 shares of the company’s stock, valued at $12,452,165. The trade was a 52.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher J. Brady sold 8,150 shares of General Dynamics 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 transaction, the vice president directly owned 22,818 shares in the company, valued at approximately $7,328,685.24. This represents a 26.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 275,020 shares of company stock worth $86,414,503. 1.50% of the stock is currently owned by company insiders.

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.