Alliancebernstein L.P. Lowers Holdings in General Dynamics Corporation $GD

Key Points

• Alliancebernstein L.P. reduced its holdings in General Dynamics Corporation by 1.1%, owning approximately 263,056 shares worth about $71.7 million as of the latest SEC filing.
• General Dynamics announced a quarterly dividend of $1.50 per share, with a record date of October 10th, 2023, and an annualized dividend yield of 1.9%.
• Multiple large investors, including Mission Wealth Management and Matrix Asset Advisors, have increased their positions in General Dynamics during the first quarter, collectively enhancing institutional ownership to 86.14%.

Alliancebernstein L.P. decreased its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 1.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 263,056 shares of the aerospace company's stock after selling 3,030 shares during the period. Alliancebernstein L.P. owned about 0.10% of General Dynamics worth $71,704,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Rialto Wealth Management LLC increased its holdings in shares of General Dynamics by 213.8% in the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock worth $25,000 after purchasing an additional 62 shares in the last quarter. Inlight Wealth Management LLC bought a new stake in shares of General Dynamics in the 1st quarter worth $26,000. Copia Wealth Management bought a new stake in shares of General Dynamics in the 4th quarter worth $27,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of General Dynamics in the 1st quarter worth $27,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of General Dynamics in the 4th quarter worth $28,000. Institutional investors own 86.14% of the company's stock.

Insider Transactions at General Dynamics

In other news, VP William A. Moss sold 17,700 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $316.40, for a total value of $5,600,280.00. Following the transaction, the vice president owned 16,627 shares of the company's stock, valued at $5,260,782.80. This trade represents a 51.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher J. Brady sold 8,150 shares of the business's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $321.18, for a total value of $2,617,617.00. Following the completion of the transaction, the vice president owned 22,818 shares in the company, valued at $7,328,685.24. The trade was a 26.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 279,439 shares of company stock valued at $87,495,956. Company insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on GD shares. Deutsche Bank Aktiengesellschaft raised General Dynamics from a "hold" rating to a "buy" rating and lifted their target price for the stock from $298.00 to $342.00 in a report on Tuesday, July 8th. Wolfe Research upgraded General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price target on the stock in a research note on Thursday, July 24th. JPMorgan Chase & Co. raised their price target on General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. UBS Group raised their price target on General Dynamics from $309.00 to $333.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, Susquehanna raised their price target on General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Nine investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $315.78.

General Dynamics Stock Performance

Shares of NYSE GD traded down $1.76 during trading on Friday, hitting $327.87. The company had a trading volume of 110,343 shares, compared to its average volume of 1,380,445. The stock has a 50 day simple moving average of $313.11 and a 200 day simple moving average of $286.42. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $330.18. The firm has a market capitalization of $88.19 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 1.98 and a beta of 0.50.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data 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 return on equity of 17.99% and a net margin of 8.13%.The firm had revenue of $13.04 billion for the quarter, compared to the consensus estimate of $12.13 billion. During the same quarter last year, the company earned $3.26 earnings per share. The business'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. As a group, analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders 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 1.8%. General Dynamics's dividend payout ratio (DPR) is 40.27%.

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.