Ascent Group LLC Lowers Position in General Dynamics Corporation $GD

Key Points

• Ascent Group LLC reduced its position in General Dynamics Corporation (NYSE:GD) by 35.1%, now holding 5,847 shares valued at approximately $1.59 million after selling 3,161 shares.
• Insider selling occurred, with CEO Phebe N. Novakovic selling 178,821 shares for about $50.63 million, resulting in an 18.85% decrease in her holdings.
• General Dynamics announced a $1.50 quarterly dividend to be paid on November 14th, with a yield of 1.9% and a payout ratio of 40.27%.

Ascent Group LLC cut its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 35.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,847 shares of the aerospace company's stock after selling 3,161 shares during the quarter. Ascent Group LLC's holdings in General Dynamics were worth $1,594,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Meiji Yasuda Life Insurance Co purchased a new stake in General Dynamics in the first quarter worth about $575,000. United Services Automobile Association purchased a new stake in General Dynamics in the first quarter worth about $1,605,000. Meiji Yasuda Asset Management Co Ltd. lifted its stake in General Dynamics by 9.4% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 9,095 shares of the aerospace company's stock worth $2,479,000 after acquiring an additional 781 shares during the period. Caxton Associates LLP purchased a new stake in General Dynamics in the first quarter worth about $1,830,000. Finally, Kestra Investment Management LLC raised its holdings in General Dynamics by 92.9% in the first quarter. Kestra Investment Management LLC now owns 434 shares of the aerospace company's stock worth $118,000 after purchasing an additional 209 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Phebe N. Novakovic sold 178,821 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $283.13, for a total value of $50,629,589.73. Following the transaction, the chief executive officer owned 769,607 shares in the company, valued at approximately $217,898,829.91. This represents a 18.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was 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 have sold 458,260 shares of company stock worth $138,125,545 in the last quarter. 1.50% of the stock is currently owned by corporate insiders.

General Dynamics Stock Performance

GD opened at $322.79 on Tuesday. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $326.02. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32. The company has a market cap of $86.83 billion, a P/E ratio of 21.66, a price-to-earnings-growth ratio of 1.98 and a beta of 0.50. The firm's 50-day moving average price is $311.28 and its 200-day moving average price is $285.34.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $12.13 billion. During the same quarter in the prior year, the company posted $3.26 earnings per share. The company'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, equities analysts anticipate that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GD shares. Susquehanna boosted their target price on shares of General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. UBS Group boosted their target price on shares of General Dynamics from $309.00 to $333.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Wolfe Research upgraded shares of General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 target price for the company in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft upgraded shares of General Dynamics from a "hold" rating to a "buy" rating and boosted their target price for the stock from $298.00 to $342.00 in a report on Tuesday, July 8th. Finally, Barclays boosted their target price on shares of General Dynamics from $285.00 to $350.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Nine equities research 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. Based on data from MarketBeat, General Dynamics currently has a consensus rating of "Hold" and an average target price of $315.78.

General Dynamics 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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