TD Waterhouse Canada Inc. Grows Position in General Dynamics Corporation $GD
by Sarita Garza · The Markets DailyTD Waterhouse Canada Inc. increased its holdings in General Dynamics Corporation (NYSE:GD – Free Report) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 110,339 shares of the aerospace company’s stock after acquiring an additional 4,845 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in General Dynamics were worth $37,141,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. WASHINGTON TRUST Co lifted its stake in General Dynamics by 453.3% in the third quarter. WASHINGTON TRUST Co now owns 9,418 shares of the aerospace company’s stock worth $3,212,000 after acquiring an additional 7,716 shares during the period. Rockland Trust Co. lifted its stake in General Dynamics by 703.4% in the third quarter. Rockland Trust Co. now owns 10,548 shares of the aerospace company’s stock worth $3,597,000 after acquiring an additional 9,235 shares during the period. Gold Investment Management Ltd. raised its holdings in General Dynamics by 73.5% in the third quarter. Gold Investment Management Ltd. now owns 10,700 shares of the aerospace company’s stock worth $3,649,000 after purchasing an additional 4,532 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in General Dynamics by 3.6% in the third quarter. Envestnet Asset Management Inc. now owns 917,424 shares of the aerospace company’s stock worth $312,842,000 after purchasing an additional 32,262 shares in the last quarter. Finally, Davis Capital Management bought a new position in General Dynamics in the third quarter worth about $1,007,000. 86.14% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have commented on GD. Wells Fargo & Company began coverage on shares of General Dynamics in a report on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 target price for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of General Dynamics in a report on Thursday, January 22nd. Susquehanna reiterated a “positive” rating and issued a $420.00 target price on shares of General Dynamics in a report on Thursday, January 15th. TD Cowen boosted their target price on shares of General Dynamics from $370.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, January 14th. Finally, Wall Street Zen downgraded shares of General Dynamics from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $384.53.
Check Out Our Latest Stock Analysis on GD
Insider Activity at General Dynamics
In other news, CEO Phebe N. Novakovic sold 32,918 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $354.09, for a total transaction of $11,655,934.62. Following the transaction, the chief executive officer owned 766,457 shares in the company, valued at $271,394,759.13. This represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark Lagrand Burns sold 10,153 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $354.95, for a total transaction of $3,603,807.35. Following the transaction, the executive vice president owned 38,975 shares in the company, valued at approximately $13,834,176.25. This trade represents a 20.67% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 51,260 shares of company stock worth $18,133,971. 1.40% of the stock is owned by insiders.
General Dynamics Stock Performance
GD opened at $336.11 on Monday. General Dynamics Corporation has a 52-week low of $262.84 and a 52-week high of $369.70. The company has a quick ratio of 0.89, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. The company has a market cap of $91.04 billion, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 2.24 and a beta of 0.38. The firm’s 50-day moving average price is $350.17 and its 200-day moving average price is $347.37.
General Dynamics (NYSE:GD – Get Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The aerospace company reported $4.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.11 by $0.06. General Dynamics had a net margin of 8.01% and a return on equity of 17.57%. The firm had revenue of $14.38 billion for the quarter, compared to the consensus estimate of $13.77 billion. During the same quarter in the prior year, the company posted $4.15 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. General Dynamics has set its FY 2026 guidance at 16.100-16.200 EPS. As a group, equities analysts anticipate that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.
General Dynamics Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, April 10th will be issued a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a dividend yield of 1.9%. This is an increase from General Dynamics’s previous quarterly dividend of $1.50. The ex-dividend date is Friday, April 10th. General Dynamics’s dividend payout ratio is currently 41.17%.
About General Dynamics
General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.
Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.