Spinnaker Trust Acquires New Stake in General Dynamics Corporation $GD

Spinnaker Trust acquired a new stake in shares of General Dynamics Corporation (NYSE:GD) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 755 shares of the aerospace company’s stock, valued at approximately $220,000.

Other hedge funds also recently bought and sold shares of the company. Savvy Advisors Inc. raised its stake in shares of General Dynamics by 40.9% in the second quarter. Savvy Advisors Inc. now owns 2,172 shares of the aerospace company’s stock worth $633,000 after buying an additional 630 shares during the period. Assetmark Inc. raised its stake in shares of General Dynamics by 11.3% in the second quarter. Assetmark Inc. now owns 75,349 shares of the aerospace company’s stock worth $21,976,000 after buying an additional 7,630 shares during the period. HBK Sorce Advisory LLC raised its stake in shares of General Dynamics by 0.5% in the second quarter. HBK Sorce Advisory LLC now owns 7,322 shares of the aerospace company’s stock worth $2,136,000 after buying an additional 34 shares during the period. Premier Path Wealth Partners LLC raised its stake in shares of General Dynamics by 2.1% in the second quarter. Premier Path Wealth Partners LLC now owns 4,622 shares of the aerospace company’s stock worth $1,348,000 after buying an additional 95 shares during the period. Finally, Spire Wealth Management raised its stake in shares of General Dynamics by 9.3% in the second quarter. Spire Wealth Management now owns 4,877 shares of the aerospace company’s stock worth $1,417,000 after buying an additional 413 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. The Goldman Sachs Group raised their price objective on General Dynamics from $280.00 to $293.00 and gave the stock a “sell” rating in a research note on Friday, October 10th. Robert W. Baird set a $390.00 price objective on General Dynamics in a research note on Monday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $400.00 target price on shares of General Dynamics in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on General Dynamics from $345.00 to $380.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of General Dynamics in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, General Dynamics currently has a consensus rating of “Moderate Buy” and a consensus target price of $350.89.

Insiders Place Their Bets

In other news, Director Mark Malcolm sold 3,220 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP William A. Moss sold 17,700 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $316.40, for a total value of $5,600,280.00. Following the completion of the sale, the vice president directly owned 16,627 shares of the company’s stock, valued at $5,260,782.80. The trade was a 51.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 193,110 shares of company stock worth $60,778,364. 1.50% of the stock is currently owned by company insiders.

General Dynamics Stock Performance

NYSE GD opened at $344.68 on Friday. The stock has a market capitalization of $93.10 billion, a PE ratio of 22.34, a P/E/G ratio of 2.05 and a beta of 0.47. The business has a 50 day simple moving average of $331.99 and a two-hundred day simple moving average of $304.11. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.40 and a quick ratio of 0.87. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $360.50.

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

General Dynamics Announces Dividend

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 paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics’s dividend payout ratio (DPR) is presently 38.89%.

General Dynamics Company 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.