755 Shares in General Dynamics Corporation $GD Acquired by Spinnaker Trust

Spinnaker Trust purchased a new position in shares of General Dynamics Corporation (NYSE:GD) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 755 shares of the aerospace company’s stock, valued at approximately $220,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Wealth Management Investment Advisory Inc. lifted its stake in shares of General Dynamics by 11.5% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 16,522 shares of the aerospace company’s stock worth $4,504,000 after acquiring an additional 1,704 shares during the last quarter. Marks Group Wealth Management Inc lifted its stake in shares of General Dynamics by 18.1% during the 1st quarter. Marks Group Wealth Management Inc now owns 31,620 shares of the aerospace company’s stock worth $8,619,000 after acquiring an additional 4,836 shares during the last quarter. Mesirow Financial Investment Management Inc. lifted its stake in shares of General Dynamics by 31.3% during the 1st quarter. Mesirow Financial Investment Management Inc. now owns 5,598 shares of the aerospace company’s stock worth $1,526,000 after acquiring an additional 1,333 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in General Dynamics by 10.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 463,917 shares of the aerospace company’s stock valued at $126,454,000 after purchasing an additional 43,885 shares in the last quarter. Finally, Seamount Financial Group Inc. bought a new stake in General Dynamics during the 1st quarter valued at $230,000. 86.14% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Mark Malcolm sold 3,220 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $329.45, for a total transaction of $1,060,829.00. Following the transaction, the director directly owned 10,186 shares in the company, valued at $3,355,777.70. The trade was a 24.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Christopher J. Brady sold 8,150 shares of the business’s stock in a transaction 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 owned 22,818 shares in the company, valued at approximately $7,328,685.24. This trade represents a 26.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 193,110 shares of company stock worth $60,778,364 over the last quarter. Company insiders own 1.50% of the company’s stock.

General Dynamics Trading Up 0.3%

Shares of NYSE:GD opened at $344.68 on Friday. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $360.50. The business’s fifty day simple moving average is $331.99 and its 200-day simple moving average is $304.11. The company has a market capitalization of $93.10 billion, a PE ratio of 22.34, a P/E/G ratio of 2.05 and a beta of 0.47. The company has a current ratio of 1.40, a quick ratio of 0.87 and a debt-to-equity ratio of 0.29.

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

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, October 10th. General Dynamics’s payout ratio is 38.89%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GD. 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. JPMorgan Chase & Co. lifted their target price on General Dynamics from $345.00 to $380.00 and gave the company an “overweight” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $400.00 target price on shares of General Dynamics in a research report on Wednesday, October 8th. Sanford C. Bernstein lifted their target price on General Dynamics from $335.00 to $388.00 and gave the company a “market perform” rating in a research report on Tuesday. Finally, The Goldman Sachs Group lifted their target price on General Dynamics from $280.00 to $293.00 and gave the company a “sell” rating in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $350.89.

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.