Adage Capital Partners GP L.L.C. Has $50.07 Million Position in General Dynamics Corporation $GD

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in General Dynamics by 41.3% during Q1, owning 183,702 shares valued at approximately $50.07 million.
• General Dynamics reported a quarterly EPS of $3.74, surpassing the consensus estimate of $3.47, with revenue of $13.04 billion for the quarter.
• The company announced a quarterly dividend of $1.50 per share, translating to a 1.9% dividend yield, with an ex-dividend date of October 10th.

Adage Capital Partners GP L.L.C. lessened its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 41.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,702 shares of the aerospace company's stock after selling 129,066 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.07% of General Dynamics worth $50,073,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Principal Securities Inc. raised its stake in shares of General Dynamics by 0.5% in the 1st quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company's stock valued at $2,161,000 after acquiring an additional 37 shares during the period. Sharpepoint LLC boosted its holdings in shares of General Dynamics by 4.2% in the 1st quarter. Sharpepoint LLC now owns 917 shares of the aerospace company's stock valued at $249,000 after buying an additional 37 shares in the last quarter. United Asset Strategies Inc. boosted its holdings in shares of General Dynamics by 1.2% in the 1st quarter. United Asset Strategies Inc. now owns 3,140 shares of the aerospace company's stock valued at $856,000 after buying an additional 37 shares in the last quarter. 1858 Wealth Management LLC boosted its holdings in shares of General Dynamics by 1.2% in the 1st quarter. 1858 Wealth Management LLC now owns 3,224 shares of the aerospace company's stock valued at $879,000 after buying an additional 38 shares in the last quarter. Finally, Keystone Financial Services raised its position in General Dynamics by 1.6% in the 1st quarter. Keystone Financial Services now owns 2,421 shares of the aerospace company's stock valued at $660,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

Insider Transactions at General Dynamics

In related news, CEO Phebe N. Novakovic sold 129,090 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $313.57, for a total value of $40,478,751.30. Following the completion of the sale, the chief executive officer directly owned 769,607 shares in the company, valued at approximately $241,325,666.99. The trade was a 14.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $315.20, for a total value of $10,634,848.00. Following the completion of the transaction, the executive vice president owned 45,192 shares of the company's stock, valued at $14,244,518.40. The trade was a 42.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 458,260 shares of company stock worth $138,125,545. 1.50% of the stock is currently owned by company insiders.

General Dynamics Stock Performance

Shares of GD traded down $0.07 during midday trading on Monday, hitting $322.79. 810,228 shares of the stock traded hands, compared to its average volume of 1,398,716. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $326.02. The business's 50 day moving average price is $310.66 and its two-hundred day moving average price is $284.78. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. The firm has a market capitalization of $86.83 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 1.98 and a beta of 0.50.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, topping the consensus estimate of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The firm had revenue of $13.04 billion for the quarter, compared to analysts' expectations of $12.13 billion. During the same period in the previous year, the business earned $3.26 earnings per share. General Dynamics's revenue for the quarter was up 8.9% compared to the same quarter last year. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Equities research analysts predict that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. General Dynamics's payout ratio is presently 40.27%.

Analyst Upgrades and Downgrades

GD has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Barclays raised their price target on shares of General Dynamics from $285.00 to $350.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Susquehanna raised their target price on shares of General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. UBS Group raised their target price on shares of General Dynamics from $309.00 to $333.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of General Dynamics from a "hold" rating to a "buy" rating and raised their target price for the stock from $298.00 to $342.00 in a research report on Tuesday, July 8th. Nine analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, General Dynamics currently has a consensus rating of "Hold" and an average price target of $315.78.

General Dynamics Company 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.