Baird Financial Group Inc. Lowers Holdings in General Dynamics Corporation $GD

Baird Financial Group Inc. lowered its position in shares of General Dynamics Corporation (NYSE:GD) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,795 shares of the aerospace company’s stock after selling 2,598 shares during the period. Baird Financial Group Inc.’s holdings in General Dynamics were worth $21,815,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. 1858 Wealth Management LLC raised its holdings in shares of General Dynamics by 1.0% in the 2nd quarter. 1858 Wealth Management LLC now owns 3,256 shares of the aerospace company’s stock valued at $950,000 after purchasing an additional 32 shares in the last quarter. Nicholson Wealth Management Group LLC increased its holdings in General Dynamics by 0.5% during the second quarter. Nicholson Wealth Management Group LLC now owns 6,582 shares of the aerospace company’s stock valued at $1,920,000 after buying an additional 33 shares during the period. Gilbert & Cook Inc. raised its stake in General Dynamics by 1.4% in the second quarter. Gilbert & Cook Inc. now owns 2,389 shares of the aerospace company’s stock worth $697,000 after buying an additional 33 shares in the last quarter. Crewe Advisors LLC boosted its position in General Dynamics by 10.9% during the 2nd quarter. Crewe Advisors LLC now owns 347 shares of the aerospace company’s stock valued at $101,000 after acquiring an additional 34 shares in the last quarter. Finally, CVA Family Office LLC increased its holdings in shares of General Dynamics by 1.5% in the 2nd quarter. CVA Family Office LLC now owns 2,256 shares of the aerospace company’s stock valued at $658,000 after acquiring an additional 34 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GD has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on General Dynamics from $345.00 to $380.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Sanford C. Bernstein boosted their target price on shares of General Dynamics from $335.00 to $388.00 and gave the stock a “market perform” rating in a report on Tuesday, October 28th. BNP Paribas upgraded shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, November 18th. BNP Paribas Exane started coverage on shares of General Dynamics in a research note on Tuesday, November 18th. They set an “outperform” rating and a $410.00 price objective for the company. Finally, Seaport Res Ptn upgraded shares of General Dynamics from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $358.10.

Insiders Place Their Bets

In other General Dynamics news, Director Mark Malcolm sold 3,220 shares of the firm’s stock in a transaction that occurred on 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 directly owned 10,186 shares of the company’s stock, valued at approximately $3,355,777.70. This trade represents a 24.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.50% of the company’s stock.

General Dynamics Trading Down 1.3%

NYSE GD opened at $337.29 on Friday. The stock has a market cap of $91.11 billion, a P/E ratio of 21.86, a P/E/G ratio of 1.71 and a beta of 0.40. The company has a current ratio of 1.40, a quick ratio of 0.87 and a debt-to-equity ratio of 0.29. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $360.50. The company has a fifty day simple moving average of $341.26 and a two-hundred day simple moving average of $316.65.

General Dynamics (NYSE:GD) last released its earnings results on Friday, October 24th. The aerospace company reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.69 by $0.19. The firm 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%.The firm’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.35 EPS. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. On average, analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

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