Advisory Services Network LLC Reduces Stock Position in General Dynamics Corporation $GD

Advisory Services Network LLC decreased its position in General Dynamics Corporation (NYSE:GD) by 18.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,117 shares of the aerospace company’s stock after selling 4,584 shares during the quarter. Advisory Services Network LLC’s holdings in General Dynamics were worth $6,269,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameriprise Financial Inc. grew 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 worth $749,252,000 after purchasing an additional 709,782 shares during the last quarter. Prudential Financial Inc. grew its position in shares of General Dynamics by 142.5% in the 2nd quarter. Prudential Financial Inc. now owns 438,311 shares of the aerospace company’s stock worth $127,838,000 after buying an additional 257,534 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of General Dynamics by 43.0% during the second quarter. AQR Capital Management LLC now owns 762,168 shares of the aerospace company’s stock valued at $222,294,000 after buying an additional 229,352 shares during the period. Marshall Wace LLP bought a new position in shares of General Dynamics during the second quarter valued at approximately $66,599,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in General Dynamics by 55.5% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 589,899 shares of the aerospace company’s stock worth $172,050,000 after acquiring an additional 210,438 shares during the period. 86.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GD has been the topic of a number of research analyst reports. Susquehanna boosted their price objective on shares of General Dynamics from $365.00 to $406.00 and gave the company a “positive” rating in a research report on Monday, October 27th. Citigroup began coverage on shares of General Dynamics in a research report on Thursday. They set a “neutral” rating and a $371.00 price target on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of General Dynamics in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $400.00 price objective on shares of General Dynamics in a research report on Wednesday, October 8th. Finally, Wolfe Research increased their target price on General Dynamics from $360.00 to $400.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $358.25.

General Dynamics Stock Down 1.2%

GD stock opened at $337.45 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.40 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average of $341.11 and a 200 day moving average of $319.11. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $360.50. The firm has a market cap of $91.15 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 1.68 and a beta of 0.40.

General Dynamics (NYSE:GD) last issued 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 firm had revenue of $12.91 billion during 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%.The company’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the company earned $3.35 earnings per share. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. On average, research analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

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

General Dynamics 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.