OLD National Bancorp IN Boosts Stake in General Dynamics Corporation $GD

OLD National Bancorp IN raised its position in shares of General Dynamics Corporation (NYSE:GD) by 2.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,327 shares of the aerospace company’s stock after purchasing an additional 138 shares during the quarter. OLD National Bancorp IN’s holdings in General Dynamics were worth $1,554,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GD. Brighton Jones LLC increased its position in General Dynamics by 16.9% in the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company’s stock worth $760,000 after purchasing an additional 417 shares during the last quarter. Gateway Investment Advisers LLC lifted its stake in General Dynamics by 4.3% in the first quarter. Gateway Investment Advisers LLC now owns 2,753 shares of the aerospace company’s stock worth $750,000 after purchasing an additional 113 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of General Dynamics by 8.1% during the first quarter. Revolve Wealth Partners LLC now owns 857 shares of the aerospace company’s stock valued at $234,000 after buying an additional 64 shares during the period. Patriot Financial Group Insurance Agency LLC grew its stake in shares of General Dynamics by 12.1% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 4,266 shares of the aerospace company’s stock valued at $1,163,000 after buying an additional 461 shares during the last quarter. Finally, Miracle Mile Advisors LLC raised its holdings in shares of General Dynamics by 3.7% in the first quarter. Miracle Mile Advisors LLC now owns 2,605 shares of the aerospace company’s stock worth $710,000 after buying an additional 92 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Christopher J. Brady sold 8,150 shares of the business’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $321.18, for a total transaction of $2,617,617.00. Following the transaction, the vice president directly owned 22,818 shares in the company, valued at $7,328,685.24. The trade was a 26.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $315.20, for a total value of $10,634,848.00. Following the transaction, the executive vice president directly owned 45,192 shares in the company, valued at $14,244,518.40. This represents a 42.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 275,020 shares of company stock valued at $86,414,503. 1.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GD has been the subject of a number of recent analyst reports. Wolfe Research upgraded General Dynamics from a “peer perform” rating to an “outperform” rating and set a $360.00 price objective for the company in a report on Thursday, July 24th. Wall Street Zen upgraded General Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday. Seaport Res Ptn upgraded shares of General Dynamics from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. Jefferies Financial Group set a $325.00 price target on shares of General Dynamics and gave the stock a “hold” rating in a research note on Wednesday, July 9th. Finally, Barclays lifted their price objective on shares of General Dynamics from $285.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, General Dynamics currently has a consensus rating of “Hold” and an average target price of $315.78.

General Dynamics Price Performance

Shares of GD stock opened at $346.60 on Tuesday. The stock’s 50-day moving average is $322.58 and its 200 day moving average is $295.09. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $347.37. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. The company has a market cap of $93.23 billion, a P/E ratio of 23.26, a PEG ratio of 2.10 and a beta of 0.47.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, beating the consensus estimate of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The business had revenue of $13.04 billion during the quarter, compared to analyst estimates of $12.13 billion. During the same period in the prior year, the firm posted $3.26 earnings per share. 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. Research analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, October 10th. General Dynamics’s dividend payout ratio (DPR) is 40.27%.

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.