Banco Bilbao Vizcaya Argentaria S.A. Reduces Stock Holdings in General Dynamics Corporation $GD

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. has decreased its stake in General Dynamics Corporation by 17.7% after selling 1,203 shares, leaving it with a total of 5,610 shares valued at approximately $1.53 million.
• General Dynamics reported quarterly earnings of $3.74 per share, surpassing estimates, with a revenue of $13.04 billion, showing an 8.9% year-over-year increase.
• The company declared a quarterly dividend of $1.50 per share, with an annualized yield of 1.9%, scheduled to be paid on November 14th to shareholders of record on October 10th.

Banco Bilbao Vizcaya Argentaria S.A. lessened its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 17.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,610 shares of the aerospace company's stock after selling 1,203 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in General Dynamics were worth $1,529,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GD. Legacy Financial Advisors Inc. lifted its position in shares of General Dynamics by 2.1% during the 1st quarter. Legacy Financial Advisors Inc. now owns 4,523 shares of the aerospace company's stock worth $1,233,000 after buying an additional 94 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new stake in General Dynamics in the first quarter valued at $352,000. Maven Securities LTD boosted its stake in General Dynamics by 511.1% in the first quarter. Maven Securities LTD now owns 3,700 shares of the aerospace company's stock valued at $1,009,000 after acquiring an additional 4,600 shares in the last quarter. RWA Wealth Partners LLC grew its holdings in shares of General Dynamics by 2.0% during the first quarter. RWA Wealth Partners LLC now owns 4,551 shares of the aerospace company's stock worth $1,241,000 after purchasing an additional 89 shares during the last quarter. Finally, Edgar Lomax Co. VA increased its position in shares of General Dynamics by 19.9% during the first quarter. Edgar Lomax Co. VA now owns 145,169 shares of the aerospace company's stock worth $39,570,000 after purchasing an additional 24,080 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GD has been the topic of a number of research reports. Argus set a $295.00 price target on General Dynamics in a research note on Tuesday, May 6th. Wolfe Research raised shares of General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 target price on the stock in a report on Thursday, July 24th. Jefferies Financial Group set a $325.00 price target on shares of General Dynamics and gave the stock a "hold" rating in a research note on Wednesday, July 9th. Robert W. Baird raised their price objective on shares of General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of General Dynamics from $284.00 to $345.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Nine equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $315.78.

General Dynamics Stock Performance

Shares of General Dynamics stock traded up $3.50 on Wednesday, reaching $325.68. 573,397 shares of the stock were exchanged, compared to its average volume of 1,422,321. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $87.60 billion, a PE ratio of 21.86, a PEG ratio of 1.96 and a beta of 0.48. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $325.66. The business has a fifty day moving average price of $304.19 and a two-hundred day moving average price of $280.27.

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

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. General Dynamics's dividend payout ratio (DPR) is 40.27%.

Insider Activity at General Dynamics

In other news, VP Christopher J. Brady sold 8,150 shares of the company's stock in a transaction on 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 of the company's stock, valued at $7,328,685.24. This represents a 26.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Phebe N. Novakovic sold 129,090 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the completion of the sale, the chief executive officer owned 769,607 shares of the company's stock, valued at $241,325,666.99. This trade represents a 14.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 458,260 shares of company stock worth $138,125,545. 1.50% of the stock is currently owned by insiders.

About General Dynamics

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.