AlphaQuest LLC Sells 7,600 Shares of General Dynamics Corporation $GD

Key Points

• AlphaQuest LLC significantly reduced its stake in General Dynamics Corporation by 68.8%, selling 7,600 shares during the second quarter and now holding only 3,448 shares valued at approximately $1,006,000.
• VP Christopher J. Brady and EVP Marguerite Amy Gilliland both reported substantial stock sales, with Brady selling 8,150 shares and Gilliland selling 33,740 shares, reflecting decreases in their respective positions.
• General Dynamics plans to pay a quarterly dividend of $1.50 per share on November 14th, which indicates an annualized dividend of $6.00 and a yield of 1.7%.

AlphaQuest LLC trimmed its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 68.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,448 shares of the aerospace company's stock after selling 7,600 shares during the quarter. AlphaQuest LLC's holdings in General Dynamics were worth $1,006,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of General Dynamics by 3.5% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 612,450 shares of the aerospace company's stock worth $178,627,000 after purchasing an additional 20,820 shares in the last quarter. Moloney Securities Asset Management LLC lifted its position in General Dynamics by 2.7% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 9,058 shares of the aerospace company's stock valued at $2,642,000 after acquiring an additional 242 shares in the last quarter. Catalyst Capital Advisors LLC lifted its position in General Dynamics by 72.1% in the 2nd quarter. Catalyst Capital Advisors LLC now owns 907 shares of the aerospace company's stock valued at $265,000 after acquiring an additional 380 shares in the last quarter. AlTi Global Inc. lifted its position in General Dynamics by 8.3% in the 2nd quarter. AlTi Global Inc. now owns 1,711 shares of the aerospace company's stock valued at $500,000 after acquiring an additional 131 shares in the last quarter. Finally, Carnegie Investment Counsel lifted its position in General Dynamics by 9.5% in the 2nd quarter. Carnegie Investment Counsel now owns 9,493 shares of the aerospace company's stock valued at $2,769,000 after acquiring an additional 822 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

Insider Activity at General Dynamics

In other news, 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 transaction of $2,617,617.00. Following the transaction, the vice president directly owned 22,818 shares in the company, valued at $7,328,685.24. The trade was a 26.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $315.20, for a total transaction of $10,634,848.00. Following the completion of the transaction, the executive vice president owned 45,192 shares in the company, valued at approximately $14,244,518.40. This trade represents a 42.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 242,460 shares of company stock worth $76,192,291 over the last ninety days. Company insiders own 1.50% of the company's stock.

General Dynamics Stock Up 2.6%

General Dynamics stock opened at $350.22 on Friday. The firm has a market capitalization of $94.20 billion, a PE ratio of 22.70, a P/E/G ratio of 2.16 and a beta of 0.47. The company's 50-day moving average is $329.49 and its 200-day moving average is $302.06. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $360.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data on Friday, October 24th. The aerospace company reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.69 by $0.19. The company had revenue of $12.91 billion for the quarter, compared to analyst estimates of $12.49 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. General Dynamics's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.35 EPS. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. Sell-side analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The company 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 dividend of $1.50 per share. The ex-dividend date is Friday, October 10th. This represents a $6.00 annualized dividend and a dividend yield of 1.7%. General Dynamics's payout ratio is currently 40.27%.

Wall Street Analysts Forecast Growth

GD has been the topic of several research reports. Sanford C. Bernstein set a $314.00 price objective on shares of General Dynamics and gave the company a "market perform" rating in a research report on Monday, July 14th. Robert W. Baird boosted their price objective on shares of General Dynamics from $283.00 to $350.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Barclays boosted their price objective on shares of General Dynamics from $285.00 to $350.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Jefferies Financial Group set a $325.00 price target on shares of General Dynamics and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Finally, Morgan Stanley boosted their price target on shares of General Dynamics from $328.00 to $360.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $327.44.

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.

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