974 Shares in General Dynamics Corporation $GD Acquired by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC acquired a new position in General Dynamics Corporation (NYSE:GD) during the second quarter, HoldingsChannel.com reports. The fund acquired 974 shares of the aerospace company’s stock, valued at approximately $284,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GD. Inlight Wealth Management LLC acquired a new position in shares of General Dynamics in the first quarter worth approximately $26,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of General Dynamics in the first quarter worth approximately $27,000. Quarry LP lifted its stake in shares of General Dynamics by 783.3% in the first quarter. Quarry LP now owns 106 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 94 shares during the period. Abound Financial LLC acquired a new position in shares of General Dynamics in the first quarter worth approximately $32,000. Finally, Nova Wealth Management Inc. acquired a new position in General Dynamics in the first quarter valued at approximately $33,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of General Dynamics in a research note on Wednesday, October 8th. Sanford C. Bernstein set a $314.00 price target on General Dynamics and gave the company a “market perform” rating in a research note on Monday, July 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $400.00 price target on shares of General Dynamics in a research note on Wednesday, October 8th. Citigroup boosted their price target on General Dynamics from $348.00 to $368.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, Jefferies Financial Group set a $325.00 price target on General Dynamics and gave the company a “hold” rating in a research note on Wednesday, July 9th. One 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, the stock has a consensus rating of “Hold” and an average price target of $324.11.

General Dynamics Trading Up 0.3%

NYSE GD opened at $335.52 on Wednesday. The company has a market cap of $90.25 billion, a price-to-earnings ratio of 22.52, a P/E/G ratio of 2.06 and a beta of 0.47. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $347.37. The business has a 50 day moving average price of $325.81 and a 200-day moving average price of $297.86. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, beating the consensus estimate of $3.47 by $0.27. The firm 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 company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. As a group, equities analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

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

Insider Buying and Selling at General Dynamics

In related news, CEO Phebe N. Novakovic sold 129,090 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the completion of the sale, the chief executive officer owned 769,607 shares in the company, valued at approximately $241,325,666.99. This represents a 14.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark Malcolm sold 3,220 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $329.45, for a total value of $1,060,829.00. Following the sale, the director owned 10,186 shares of the company’s stock, valued at $3,355,777.70. This trade represents a 24.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 275,020 shares of company stock valued at $86,414,503 in the last three months. Insiders own 1.50% of the company’s stock.

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.