Callan Family Office LLC Has $830,000 Position in General Dynamics Corporation (NYSE:GD)

Key Points

• Callan Family Office LLC has reduced its stake in General Dynamics Corporation by 23.7%, holding 3,045 shares worth approximately $830,000 as of its latest SEC filing.
• Insider activity includes EVP Marguerite Amy Gilliland selling 33,740 shares valued at over $10.6 million, marking a 42.75% decrease in her position.
• General Dynamics recently reported a strong quarterly performance, with earnings per share of $3.74, exceeding expectations and demonstrating an 8.9% revenue growth year over year.

Callan Family Office LLC reduced its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 23.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,045 shares of the aerospace company's stock after selling 944 shares during the period. Callan Family Office LLC's holdings in General Dynamics were worth $830,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in GD. Retirement Guys Formula LLC acquired a new stake in General Dynamics during the 1st quarter worth approximately $1,692,000. Advisory Resource Group boosted its position in General Dynamics by 7.1% during the 1st quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company's stock worth $5,234,000 after buying an additional 1,276 shares during the period. Mission Wealth Management LP boosted its position in General Dynamics by 18.9% during the 1st quarter. Mission Wealth Management LP now owns 16,144 shares of the aerospace company's stock worth $4,401,000 after buying an additional 2,568 shares during the period. Matrix Asset Advisors Inc. NY boosted its position in General Dynamics by 31.6% during the 1st quarter. Matrix Asset Advisors Inc. NY now owns 33,644 shares of the aerospace company's stock worth $9,171,000 after buying an additional 8,073 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. boosted its position in General Dynamics by 11.5% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 16,522 shares of the aerospace company's stock worth $4,504,000 after buying an additional 1,704 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at General Dynamics

In related news, EVP Marguerite Amy Gilliland sold 33,740 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $315.20, for a total value of $10,634,848.00. Following the sale, the executive vice president directly owned 45,192 shares in the company, valued at approximately $14,244,518.40. The trade was a 42.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Leon Rudy F. De sold 5,490 shares of the business's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $312.81, for a total value of $1,717,326.90. Following the completion of the sale, the director owned 5,483 shares in the company, valued at $1,715,137.23. This represents a 50.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 302,110 shares of company stock valued at $89,042,859 over the last quarter. Corporate insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

GD has been the topic of several recent research reports. Wolfe Research upgraded 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 research report on Thursday, July 24th. TD Cowen raised their price target on shares of General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Jefferies Financial Group set a $325.00 price target on shares of General Dynamics and gave the stock a "hold" rating in a report on Wednesday, July 9th. Barclays raised their price target 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. Finally, Morgan Stanley lowered their price target on shares of General Dynamics from $305.00 to $300.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $315.78.

General Dynamics Stock Performance

Shares of GD stock opened at $317.56 on Thursday. The firm has a market capitalization of $85.42 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 1.92 and a beta of 0.48. The firm has a fifty day simple moving average of $297.18 and a two-hundred day simple moving average of $276.45. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $322.50.

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, topping analysts' consensus estimates of $3.47 by $0.27. The firm had revenue of $13.04 billion for the quarter, compared to the consensus estimate of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The business's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.26 EPS. Analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics's payout ratio is 40.27%.

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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