B. Riley Wealth Advisors Inc. Acquires New Shares in General Dynamics Corporation $GD

B. Riley Wealth Advisors Inc. bought a new stake in shares of General Dynamics Corporation (NYSE:GD) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,620 shares of the aerospace company’s stock, valued at approximately $1,056,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp lifted its holdings in shares of General Dynamics by 1.1% in the 2nd quarter. State Street Corp now owns 11,140,437 shares of the aerospace company’s stock worth $3,249,220,000 after buying an additional 119,664 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of General Dynamics by 25.2% during the second quarter. Ameriprise Financial Inc. now owns 3,439,720 shares of the aerospace company’s stock worth $1,003,444,000 after buying an additional 691,340 shares during the period. Invesco Ltd. increased its holdings in shares of General Dynamics by 0.4% in the second quarter. Invesco Ltd. now owns 2,385,573 shares of the aerospace company’s stock valued at $695,776,000 after purchasing an additional 9,283 shares during the period. Franklin Resources Inc. lifted its holdings in shares of General Dynamics by 2.5% in the 2nd quarter. Franklin Resources Inc. now owns 1,712,190 shares of the aerospace company’s stock valued at $499,377,000 after buying an additional 41,349 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in General Dynamics by 1.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,598,847 shares of the aerospace company’s stock valued at $466,320,000 after buying an additional 16,459 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GD shares. Citigroup initiated coverage on shares of General Dynamics in a report on Thursday. They issued a “neutral” rating and a $371.00 price objective on the stock. 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 research note on Tuesday, October 28th. Wolfe Research upped their target price on shares of General Dynamics from $360.00 to $400.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Robert W. Baird set a $390.00 price target on shares of General Dynamics in a research report on Monday, October 27th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $400.00 price target on shares of General Dynamics in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $358.25.

General Dynamics Trading Up 1.0%

Shares of GD stock opened at $340.96 on Tuesday. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $360.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.87 and a current ratio of 1.40. The firm has a market capitalization of $92.10 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 1.68 and a beta of 0.40. The stock has a fifty day moving average of $340.99 and a two-hundred day moving average of $319.58.

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

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 16th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend 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 38.89%.

About General Dynamics

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.