Caisse DE Depot ET Placement DU Quebec Sells 114,460 Shares of General Dynamics Corporation $GD

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its stake in General Dynamics Corporation by 53.6%, selling 114,460 shares and maintaining 99,192 shares valued at approximately $27 million.
• Multiple institutional investors have recently altered their positions in General Dynamics, with notable increases in investments from Brighton Jones LLC and Optiver Holding B.V.
• General Dynamics has announced a quarterly dividend of $1.50 per share, with an annualized yield of 1.9%, scheduled for payment on November 14th to stockholders of record on October 10th.

Caisse DE Depot ET Placement DU Quebec lowered its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 53.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 99,192 shares of the aerospace company's stock after selling 114,460 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in General Dynamics were worth $27,038,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC grew its position in General Dynamics by 213.8% during the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after buying an additional 62 shares during the period. Inlight Wealth Management LLC bought a new position in General Dynamics during the first quarter valued at about $26,000. Copia Wealth Management bought a new position in General Dynamics during the fourth quarter valued at about $27,000. Smallwood Wealth Investment Management LLC bought a new position in General Dynamics during the first quarter worth about $27,000. Finally, Heck Capital Advisors LLC bought a new position in General Dynamics during the fourth quarter worth about $28,000. Institutional investors own 86.14% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GD shares. Citigroup increased their target price 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. Robert W. Baird lifted their price target on shares of General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. UBS Group lifted their price target on shares of General Dynamics from $309.00 to $333.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Sanford C. Bernstein set a $314.00 price target on shares of General Dynamics and gave the stock a "market perform" rating in a research note on Monday, July 14th. Finally, 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. Nine investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $315.78.

Insider Activity

In other news, VP Christopher J. Brady sold 8,150 shares of the business'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 sale, the vice president owned 22,818 shares in the company, valued at approximately $7,328,685.24. The trade was a 26.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP William A. Moss sold 17,700 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $316.40, for a total transaction of $5,600,280.00. Following the completion of the transaction, the vice president owned 16,627 shares in the company, valued at approximately $5,260,782.80. The trade was a 51.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 458,260 shares of company stock worth $138,125,545. 1.50% of the stock is currently owned by corporate insiders.

General Dynamics Trading Down 0.1%

NYSE:GD traded down $0.27 during trading hours on Friday, hitting $324.64. The company had a trading volume of 670,140 shares, compared to its average volume of 888,420. The company has a market capitalization of $87.33 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 1.99 and a beta of 0.48. The stock has a 50-day moving average price of $306.98 and a 200 day moving average price of $281.52. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $326.02. 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 results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share 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 business had revenue of $13.04 billion for the quarter, compared to analysts' expectations of $12.13 billion. During the same quarter in the previous year, the business posted $3.26 earnings per share. The firm'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. On average, equities research analysts predict that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

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

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.