Midwest Trust Co Purchases Shares of 2,760 General Dynamics Corporation $GD

Midwest Trust Co acquired a new position in General Dynamics Corporation (NYSE:GD) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,760 shares of the aerospace company’s stock, valued at approximately $805,000.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of General Dynamics by 4.9% in the first quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company’s stock worth $1,499,819,000 after purchasing an additional 256,687 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in General Dynamics by 34.8% in the 1st quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company’s stock valued at $749,252,000 after acquiring an additional 709,782 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of General Dynamics by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,582,388 shares of the aerospace company’s stock valued at $431,327,000 after acquiring an additional 5,313 shares during the last quarter. Boston Partners grew its position in General Dynamics by 7.9% in the first quarter. Boston Partners now owns 1,296,497 shares of the aerospace company’s stock worth $353,558,000 after acquiring an additional 94,537 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of General Dynamics by 120.9% in the first quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company’s stock valued at $343,866,000 after acquiring an additional 690,349 shares during the period. Institutional investors own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 129,090 shares of the company’s 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 of the company’s stock, valued at $241,325,666.99. This represents a 14.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP William A. Moss sold 17,700 shares of the company’s stock in a transaction dated 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 directly owned 16,627 shares in the company, valued at approximately $5,260,782.80. The trade was a 51.56% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 159,370 shares of company stock worth $50,143,516. 1.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GD has been the topic of several research reports. Sanford C. Bernstein raised their price target on General Dynamics from $335.00 to $388.00 and gave the company a “market perform” rating in a research note on Tuesday, October 28th. JPMorgan Chase & Co. lifted their price objective on shares of General Dynamics from $345.00 to $380.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Wall Street Zen raised shares of General Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Wolfe Research boosted their target price on shares of General Dynamics from $360.00 to $400.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Finally, Robert W. Baird set a $390.00 price target on shares of General Dynamics in a research report on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $350.89.

General Dynamics Trading Up 0.8%

GD opened at $352.17 on Wednesday. The firm’s 50 day moving average is $335.51 and its 200-day moving average is $308.53. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $360.50. The firm has a market capitalization of $95.13 billion, a P/E ratio of 22.82, a P/E/G ratio of 2.05 and a beta of 0.46. The company has a quick ratio of 0.87, a current ratio of 1.40 and a debt-to-equity ratio of 0.29.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Friday, October 24th. The aerospace company reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.69 by $0.19. General Dynamics had a return on equity of 18.27% and a net margin of 8.18%.The business had revenue of $12.91 billion during the quarter, compared to analyst estimates of $12.49 billion. During the same quarter in the previous year, the firm posted $3.35 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. Analysts expect that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

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.