General Dynamics Corporation $GD Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia raised its position in General Dynamics Corporation (NYSE:GD) by 17.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 146,519 shares of the aerospace company’s stock after buying an additional 21,393 shares during the quarter. Bank of Nova Scotia’s holdings in General Dynamics were worth $42,734,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of GD. Quarry LP boosted its stake in General Dynamics by 783.3% during the 1st quarter. Quarry LP now owns 106 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 94 shares during the period. Vermillion & White Wealth Management Group LLC increased its stake in General Dynamics by 80.3% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 110 shares of the aerospace company’s stock valued at $32,000 after purchasing an additional 49 shares during the period. NewSquare Capital LLC raised its holdings in shares of General Dynamics by 64.7% in the second quarter. NewSquare Capital LLC now owns 112 shares of the aerospace company’s stock valued at $33,000 after buying an additional 44 shares during the last quarter. Harbor Asset Planning Inc. acquired a new stake in shares of General Dynamics during the second quarter worth about $35,000. Finally, Access Investment Management LLC purchased a new position in shares of General Dynamics during the second quarter worth about $35,000. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Performance

GD opened at $335.96 on Tuesday. The stock’s 50 day simple moving average is $341.34 and its 200 day simple moving average is $317.34. The stock has a market cap of $90.75 billion, a P/E ratio of 21.77, a P/E/G ratio of 1.71 and a beta of 0.40. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $360.50. 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 (NYSE:GD) last posted its earnings results on Friday, October 24th. The aerospace company reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.69 by $0.19. The company had revenue of $12.91 billion for the quarter, compared to the consensus estimate of $12.49 billion. General Dynamics had a return on equity of 18.27% and a net margin of 8.18%.General Dynamics’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.35 earnings per share. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. As a group, equities analysts anticipate that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 16th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, January 16th. General Dynamics’s dividend payout ratio is presently 38.89%.

Insiders Place Their Bets

In other General Dynamics news, Director Mark Malcolm sold 3,220 shares of General Dynamics stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $329.45, for a total transaction of $1,060,829.00. Following the completion of the transaction, the director owned 10,186 shares in the company, valued at approximately $3,355,777.70. The trade was a 24.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on GD. Weiss Ratings reaffirmed a “buy (b)” rating on shares of General Dynamics in a research note on Wednesday, October 8th. Robert W. Baird set a $390.00 target price on General Dynamics in a report on Monday, October 27th. Wolfe Research increased their price target on General Dynamics from $360.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Sanford C. Bernstein boosted their price objective on shares of General Dynamics from $335.00 to $388.00 and gave the company a “market perform” rating in a research note on Tuesday, October 28th. Finally, Vertical Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $400.00 price objective for the company in a research report on Monday, October 27th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $358.10.

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.