Eliot Finkel Investment Counsel LLC Has $7.75 Million Holdings in General Dynamics Corporation $GD

Eliot Finkel Investment Counsel LLC reduced its position in shares of General Dynamics Corporation (NYSE:GD) by 1.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,582 shares of the aerospace company’s stock after selling 395 shares during the quarter. General Dynamics makes up about 5.0% of Eliot Finkel Investment Counsel LLC’s holdings, making the stock its 5th biggest holding. Eliot Finkel Investment Counsel LLC’s holdings in General Dynamics were worth $7,753,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Salvus Wealth Management LLC raised its holdings in General Dynamics by 2.9% in the 2nd quarter. Salvus Wealth Management LLC now owns 1,274 shares of the aerospace company’s stock worth $372,000 after purchasing an additional 36 shares in the last quarter. Principal Securities Inc. raised its holdings in General Dynamics by 0.5% in the 1st quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company’s stock worth $2,161,000 after purchasing an additional 37 shares in the last quarter. Sharpepoint LLC raised its holdings in General Dynamics by 4.2% in the 1st quarter. Sharpepoint LLC now owns 917 shares of the aerospace company’s stock worth $249,000 after purchasing an additional 37 shares in the last quarter. United Asset Strategies Inc. raised its holdings in General Dynamics by 1.2% in the 1st quarter. United Asset Strategies Inc. now owns 3,140 shares of the aerospace company’s stock worth $856,000 after purchasing an additional 37 shares in the last quarter. Finally, Southland Equity Partners LLC raised its holdings in General Dynamics by 3.2% in the 2nd quarter. Southland Equity Partners LLC now owns 1,185 shares of the aerospace company’s stock worth $346,000 after purchasing an additional 37 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Christopher J. Brady sold 8,150 shares of the business’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $321.18, for a total value of $2,617,617.00. Following the sale, the vice president owned 22,818 shares in the company, 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 document filed with the SEC, which is accessible through this hyperlink. Also, VP William A. Moss sold 17,700 shares of the business’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $316.40, for a total transaction of $5,600,280.00. Following the completion of the sale, the vice president owned 16,627 shares in the company, valued at $5,260,782.80. This represents a 51.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 275,020 shares of company stock valued at $86,414,503. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on GD. Citigroup upped their price objective on shares of General Dynamics from $348.00 to $368.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft raised shares of General Dynamics from a “hold” rating to a “buy” rating and upped their target price for the stock from $298.00 to $342.00 in a research report on Tuesday, July 8th. UBS Group upped their target price on shares of General Dynamics from $309.00 to $333.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Susquehanna upped their target price 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. Finally, Wolfe Research raised shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, General Dynamics has an average rating of “Hold” and a consensus target price of $315.78.

General Dynamics Trading Up 0.8%

General Dynamics stock opened at $343.76 on Friday. The stock has a market cap of $92.47 billion, a P/E ratio of 23.07, a PEG ratio of 2.10 and a beta of 0.47. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $345.22. The firm’s 50 day moving average price is $321.91 and its 200-day moving average price is $294.30.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.27. The firm had revenue of $13.04 billion for the quarter, compared to analysts’ expectations of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. On average, equities analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, October 10th. This represents a $6.00 annualized dividend and a dividend yield of 1.7%. General Dynamics’s dividend payout ratio (DPR) is presently 40.27%.

General Dynamics Company 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.