Garner Asset Management Corp Buys Additional Shares of General Dynamics

Garner Asset Management Corp, in a significant uptick to its holdings, has boosted its stake in General Dynamics Co. (NYSE:GD) by 41.3% during the second quarter, as revealed by the latest 13F filings with the Securities and Exchange Commission (SEC). With the acquisition of an extra 1,260 shares in the recent quarter, the firm now possesses a total of 4,308 shares of the major aerospace corporation, valuing approximately $927,000.

Investment Firms Adjust Positions

General Dynamics has also been the focus of other institutional investors and hedge funds who have recently adjusted their own positions in the company’s shares. Noteworthy movements include Certified Advisory Corp initiating a new holding valued around $25,000 and Guardian Wealth Advisors LLC embarking on a new stake worth about $28,000 during the first quarter. A marked increase was seen with NewSquare Capital LLC, which grew its holdings by an impressive 153.7% to now own 137 shares, valued at $29,000, after the purchase of an additional 83 shares in the second quarter. Moreover, Live Oak Investment Partners and Resurgent Financial Advisors LLC both made fresh investments in General Dynamics in the fourth quarter, valued around $30,000 and $37,000 respectively.

General Dynamics' Stock Performance

On the trading front, General Dynamics’ stock saw a climb by $1.18 hitting a midday trading value of $253.60. The stock's trading volume was 133,364 shares, standing lower than the average volume of 1,169,638. Currently, the company shows a robust market cap of $69.21 billion and a favorably solid price-to-earnings ratio of 21.11. Moreover, the company saw a 12-month low of $202.35 and touched a 12-month high of $254.76.

Quarterly Earnings and Dividend Announcement

The aerospace conglomerate has reported pleasing quarterly earnings with $3.04 earnings per share which is above the expected $2.87, generated from revenue streams totaling $10.57 billion. Further bolstering investor confidence, General Dynamics declared a quarterly dividend, rewarding stockholders of record on January 19th with a dividend of $1.32 per share, characteristic of a commendable payout ratio.

Analyst Perspectives

Wall Street analysts have offered insights into General Dynamics’ prospects, with several raising price targets and three consensus ‘buy’ ratings, suggesting a positive outlook for the stock. Among these analyses, Berenberg Bank and Susquehanna have notably adjusted their price expectations for General Dynamics, with the latter exhibiting a highly optimistic estimate.

Inside Trades at General Dynamics

In insider trading news, VP Gregory S. Gallopoulos sold a sizeable block of 33,200 shares, following which he held over 113,000 shares valued at approximately $27 million. This transaction, now publicly filed, offers insight into executive stock movements within the company.

About General Dynamics

With global operations, General Dynamics holds a diversified presence in the aerospace and defense sector. Its business scope includes manufacturing business jets and offering a suite of aviation services, covering maintenance, support, and staffing.

Investment, Aerospace, Earnings