Nova Wealth Management Inc. Buys Shares of 120 General Dynamics Corporation $GD

Nova Wealth Management Inc. purchased a new stake in shares of General Dynamics Corporation (NYSE:GD) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 120 shares of the aerospace company’s stock, valued at approximately $33,000.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased 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 valued at $1,499,819,000 after purchasing an additional 256,687 shares during the period. Royal Bank of Canada increased its position in General Dynamics by 5.2% in the 4th quarter. Royal Bank of Canada now owns 2,935,046 shares of the aerospace company’s stock valued at $773,355,000 after acquiring an additional 145,978 shares during the period. Ameriprise Financial Inc. raised its stake in General Dynamics by 34.8% during 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its position in 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 worth $431,327,000 after acquiring an additional 5,313 shares during the period. Finally, Boston Partners grew its stake in shares of 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 purchasing an additional 94,537 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Price Performance

Shares of NYSE:GD opened at $326.23 on Friday. The company has a market capitalization of $87.75 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 2.02 and a beta of 0.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. The stock has a fifty day moving average of $313.76 and a 200-day moving average of $286.94. General Dynamics Corporation has a one year low of $239.20 and a one year high of $330.18.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.27. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The business had revenue of $13.04 billion for the quarter, compared to analysts’ expectations of $12.13 billion. During the same period in the previous year, the firm posted $3.26 EPS. The company’s quarterly revenue was up 8.9% on a year-over-year basis. General Dynamics has set its FY 2025 guidance at 15.050-15.150 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. General Dynamics’s dividend payout ratio is currently 40.27%.

Insider Buying and Selling

In other news, CEO Phebe N. Novakovic sold 129,090 shares of General Dynamics stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $313.57, for a total value of $40,478,751.30. Following the transaction, the chief executive officer directly owned 769,607 shares of the company’s stock, valued at $241,325,666.99. This trade represents a 14.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Christopher J. Brady sold 8,150 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $321.18, for a total transaction of $2,617,617.00. Following the completion of the sale, the vice president owned 22,818 shares of the company’s stock, valued at approximately $7,328,685.24. This trade represents a 26.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 279,439 shares of company stock valued at $87,495,956. Company insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. TD Cowen upped their price objective on shares of General Dynamics from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, June 25th. Robert W. Baird upped their price target on shares of General Dynamics from $283.00 to $350.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Jefferies Financial Group set a $325.00 price objective on shares of General Dynamics and gave the company a “hold” rating in a research note on Wednesday, July 9th. Barclays upped their target price on General Dynamics from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Finally, Cowen reiterated a “buy” rating on shares of General Dynamics in a research report on Wednesday, June 25th. Nine equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $315.78.

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.