Summit Asset Management LLC Takes $569,000 Position in General Dynamics Corporation $GD

Summit Asset Management LLC purchased a new position in shares of General Dynamics Corporation (NYSE:GD) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,606 shares of the aerospace company’s stock, valued at approximately $569,000.

A number of other institutional investors and hedge funds have also bought and sold shares of GD. Whipplewood Advisors LLC grew its stake in shares of General Dynamics by 1,725.0% in the 1st quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 69 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in shares of General Dynamics in the first quarter valued at about $29,000. Wilkerson Advisory Group LLC lifted its position in shares of General Dynamics by 79.6% during the first quarter. Wilkerson Advisory Group LLC now owns 88 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 39 shares in the last quarter. Motiv8 Investments LLC purchased a new position in General Dynamics during the fourth quarter worth about $31,000. Finally, Center for Financial Planning Inc. boosted its holdings in General Dynamics by 220.7% during the fourth quarter. Center for Financial Planning Inc. now owns 93 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 64 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Weiss Ratings upgraded shares of General Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. DA Davidson reduced their target price on General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Wells Fargo & Company increased their price target on General Dynamics from $400.00 to $440.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Jefferies Financial Group boosted their price objective on General Dynamics from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Finally, Citigroup upped their price objective on General Dynamics from $364.00 to $404.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and an average target price of $410.89.

Insider Buying and Selling at General Dynamics

In other news, EVP Marguerite Amy Gilliland sold 43,180 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $378.04, for a total transaction of $16,323,767.20. Following the sale, the executive vice president directly owned 44,767 shares in the company, valued at $16,923,716.68. This represents a 49.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Phebe N. Novakovic sold 51,568 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $382.58, for a total transaction of $19,728,885.44. Following the completion of the sale, the chief executive officer directly owned 766,457 shares in the company, valued at approximately $293,231,119.06. The trade was a 6.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 100,228 shares of company stock valued at $38,052,853 in the last quarter. 1.40% of the stock is currently owned by corporate insiders.

General Dynamics Trading Up 0.6%

Shares of GD stock opened at $395.46 on Friday. The stock has a market capitalization of $106.99 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 2.29 and a beta of 0.33. The company’s fifty day simple moving average is $370.17 and its two-hundred day simple moving average is $354.71. General Dynamics Corporation has a 1 year low of $306.77 and a 1 year high of $400.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.44 and a quick ratio of 0.96.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 29th. The aerospace company reported $4.24 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.28. The firm had revenue of $14.09 billion during the quarter, compared to analyst estimates of $13.52 billion. General Dynamics had a return on equity of 17.43% and a net margin of 8.18%.The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the company earned $3.74 earnings per share. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. As a group, analysts anticipate that General Dynamics Corporation will post 16.97 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 9th will be issued a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, October 9th. General Dynamics’s payout ratio is presently 38.80%.

General Dynamics Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.