MFG Wealth Management Inc. Sells 3,301 Shares of General Dynamics Corporation $GD

MFG Wealth Management Inc. lessened its holdings in shares of General Dynamics Corporation (NYSE:GD) by 37.3% during the third quarter, HoldingsChannel.com reports. The firm owned 5,560 shares of the aerospace company’s stock after selling 3,301 shares during the quarter. MFG Wealth Management Inc.’s holdings in General Dynamics were worth $1,896,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP grew its position in General Dynamics by 783.3% during the first quarter. Quarry LP now owns 106 shares of the aerospace company’s stock worth $29,000 after buying an additional 94 shares in the last quarter. Vermillion & White Wealth Management Group LLC lifted its position in shares of General Dynamics by 80.3% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 110 shares of the aerospace company’s stock valued at $32,000 after acquiring an additional 49 shares during the period. NewSquare Capital LLC lifted its position in shares of General Dynamics by 64.7% during the 2nd quarter. NewSquare Capital LLC now owns 112 shares of the aerospace company’s stock valued at $33,000 after acquiring an additional 44 shares during the period. Harbor Asset Planning Inc. acquired a new stake in shares of General Dynamics during the 2nd quarter worth $35,000. Finally, Access Investment Management LLC bought a new position in shares of General Dynamics in the second quarter worth $35,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Performance

NYSE GD opened at $337.20 on Friday. The company has a market capitalization of $91.08 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 1.67 and a beta of 0.40. The company has a quick ratio of 0.87, a current ratio of 1.40 and a debt-to-equity ratio of 0.29. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $360.50. The stock has a fifty day simple moving average of $340.56 and a 200 day simple moving average of $320.23.

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

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Stockholders of record on Friday, January 16th will be paid a $1.50 dividend. The ex-dividend date is Friday, January 16th. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. General Dynamics’s dividend payout ratio (DPR) is currently 38.89%.

Insider Buying and Selling

In related news, VP David Paddock sold 20,360 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $334.92, for a total transaction of $6,818,971.20. Following the transaction, the vice president directly owned 36,644 shares of the company’s stock, valued at approximately $12,272,808.48. This represents a 35.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. The Goldman Sachs Group raised their target price on shares of General Dynamics from $280.00 to $293.00 and gave the company a “sell” rating in a report on Friday, October 10th. Weiss Ratings reissued a “buy (b)” rating on shares of General Dynamics in a research note on Wednesday, October 8th. 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 report on Tuesday, October 28th. BNP Paribas upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, November 18th. Finally, UBS Group lifted their price target on General Dynamics from $369.00 to $381.00 and gave the company a “neutral” rating in a research note on Monday, October 27th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $358.25.

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.