Concord Wealth Partners Grows Position in General Dynamics Corporation $GD

Concord Wealth Partners boosted its stake in General Dynamics Corporation (NYSE:GD) by 30.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 624 shares of the aerospace company’s stock after buying an additional 144 shares during the quarter. Concord Wealth Partners’ holdings in General Dynamics were worth $182,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Inlight Wealth Management LLC purchased a new stake in General Dynamics in the 1st quarter valued at $26,000. Smallwood Wealth Investment Management LLC purchased a new stake in General Dynamics in the 1st quarter valued at $27,000. Quarry LP raised its position in General Dynamics by 783.3% in the 1st quarter. Quarry LP now owns 106 shares of the aerospace company’s stock valued at $29,000 after buying an additional 94 shares during the last quarter. Abound Financial LLC purchased a new stake in General Dynamics in the 1st quarter valued at $32,000. Finally, Nova Wealth Management Inc. purchased a new stake in General Dynamics in the 1st quarter valued at $33,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at General Dynamics

In other news, VP Christopher J. Brady sold 8,150 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $321.18, for a total transaction of $2,617,617.00. Following the completion of the transaction, the vice president owned 22,818 shares in the company, valued at approximately $7,328,685.24. This represents a 26.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Lagrand Burns sold 43,860 shares of General Dynamics stock in a transaction dated Monday, July 28th. The shares were 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 disclosure for this sale can be found here. Insiders have sold 275,020 shares of company stock worth $86,414,503 in the last three months. Corporate insiders own 1.50% of the company’s stock.

General Dynamics Stock Up 0.5%

GD stock opened at $334.64 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. The company has a market capitalization of $90.01 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 2.05 and a beta of 0.47. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $347.37. The stock has a fifty day moving average of $325.37 and a 200-day moving average of $297.59.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.27. The company had revenue of $13.04 billion during 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 firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. As a group, equities research 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 declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be paid 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 1.8%. General Dynamics’s dividend payout ratio is presently 40.27%.

Analyst Ratings Changes

A number of brokerages have issued reports on GD. Barclays upped their price objective on General Dynamics from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. TD Cowen upped their price objective on General Dynamics from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, June 25th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $400.00 price objective on shares of General Dynamics in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of General Dynamics from $284.00 to $345.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Finally, Cowen reiterated a “buy” rating on shares of General Dynamics in a research note on Wednesday, June 25th. One equities 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 issued a Sell rating to the company. According to MarketBeat.com, General Dynamics presently has an average rating of “Hold” and a consensus target price of $324.11.

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.