QTR Family Wealth LLC Buys Shares of 832 General Dynamics Corporation $GD

QTR Family Wealth LLC purchased a new position in shares of General Dynamics Corporation (NYSE:GD) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 832 shares of the aerospace company’s stock, valued at approximately $243,000.

Several other hedge funds also recently modified their holdings of GD. Nuveen LLC bought a new position in General Dynamics in the first quarter valued at about $272,464,000. Ameriprise Financial Inc. increased its stake in shares of General Dynamics by 34.8% in the first quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company’s stock valued at $749,252,000 after buying an additional 709,782 shares during the period. Deutsche Bank AG raised its holdings in General Dynamics by 120.9% in the 1st quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company’s stock valued at $343,866,000 after buying an additional 690,349 shares during the last quarter. 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 buying an additional 256,687 shares during the period. Finally, SG Americas Securities LLC increased its position in General Dynamics by 1,488.8% in the 1st quarter. SG Americas Securities LLC now owns 221,484 shares of the aerospace company’s stock valued at $60,372,000 after acquiring an additional 207,544 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Ratings Changes

GD has been the topic of a number of recent research reports. Susquehanna lifted their price target on shares of General Dynamics from $315.00 to $365.00 and gave the stock a “positive” rating in a report on Thursday, July 24th. UBS Group raised their target price on General Dynamics from $309.00 to $333.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Wolfe Research upgraded General Dynamics from a “peer perform” rating to an “outperform” rating and set a $360.00 price target on the stock in a research report on Thursday, July 24th. Seaport Res Ptn upgraded General Dynamics from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, TD Cowen lifted their price objective on General Dynamics from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, June 25th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $315.78.

General Dynamics Stock Performance

Shares of GD stock opened at $340.73 on Wednesday. The firm has a 50 day moving average of $320.30 and a 200-day moving average of $292.74. The company has a market cap of $91.65 billion, a price-to-earnings ratio of 22.87, a price-to-earnings-growth ratio of 2.04 and a beta of 0.50. 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 Corporation has a 52 week low of $239.20 and a 52 week high of $341.02.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 8.13% and a return on equity of 17.99%. General Dynamics’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. On average, equities analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

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. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics’s dividend payout ratio is 40.27%.

Insider Buying and Selling

In related news, VP Christopher J. Brady sold 8,150 shares of the business’s stock in a transaction dated 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 sale, the vice president directly owned 22,818 shares of the company’s stock, valued at $7,328,685.24. The trade was a 26.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Phebe N. Novakovic sold 129,090 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $313.57, for a total value of $40,478,751.30. Following the completion of the transaction, the chief executive officer owned 769,607 shares in the company, valued at approximately $241,325,666.99. The trade was a 14.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 275,020 shares of company stock worth $86,414,503 over the last 90 days. 1.50% of the stock is 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.