Confluence Investment Management LLC Decreases Stock Holdings in General Dynamics Corporation $GD

Key Points

• Confluence Investment Management reduced its General Dynamics stake by 6.9% in the second quarter, selling 4,904 shares and retaining 65,990 shares valued at approximately $23.4 million. Institutional investors collectively own 86.14% of GD.
• Analysts maintain a generally positive outlook, with General Dynamics receiving a consensus “Moderate Buy” rating and an average price target of $407.58. Recent targets range from $313 at Goldman Sachs to $465 at Morgan Stanley.
• General Dynamics exceeded quarterly expectations, reporting $4.24 in earnings per share and $14.09 billion in revenue, up 8.1% year over year. The company also announced a quarterly dividend of $1.59 per share, equivalent to a 1.7% annual yield.

Confluence Investment Management LLC reduced its position in General Dynamics Corporation (NYSE:GD - Free Report) by 6.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 65,990 shares of the aerospace company's stock after selling 4,904 shares during the period. Confluence Investment Management LLC's holdings in General Dynamics were worth $23,376,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GD. Eastern Bank lifted its position in General Dynamics by 597.5% during the second quarter. Eastern Bank now owns 279 shares of the aerospace company's stock valued at $99,000 after acquiring an additional 239 shares during the last quarter. Roxbury Financial LLC boosted its stake in General Dynamics by 3.1% in the second quarter. Roxbury Financial LLC now owns 1,302 shares of the aerospace company's stock valued at $461,000 after acquiring an additional 39 shares in the last quarter. Hamilton Wealth LLC grew its holdings in General Dynamics by 14.7% in the first quarter. Hamilton Wealth LLC now owns 1,258 shares of the aerospace company's stock worth $432,000 after purchasing an additional 161 shares during the last quarter. Ballast Advisors LLC acquired a new position in shares of General Dynamics during the first quarter worth $34,000. Finally, Sapient Capital LLC increased its position in shares of General Dynamics by 10.4% during the first quarter. Sapient Capital LLC now owns 970 shares of the aerospace company's stock worth $333,000 after purchasing an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

Insider Activity at General Dynamics

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the sale, the executive vice president owned 38,975 shares of the company's stock, valued at $13,457,677.75. This trade represents a 48.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Malcolm sold 5,480 shares of the firm's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the sale, the director owned 10,643 shares in the company, valued at approximately $3,884,695. This represents a 33.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 78,190 shares of company stock worth $27,041,022. Insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GD shares. Wall Street Zen cut General Dynamics from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Morgan Stanley increased their price target on General Dynamics from $435.00 to $465.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. Citigroup raised their price target on General Dynamics from $364.00 to $404.00 and gave the stock a "neutral" rating in a report on Thursday. The Goldman Sachs Group dropped their price target on General Dynamics from $327.00 to $313.00 and set a "sell" rating on the stock in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of General Dynamics from $385.00 to $400.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, General Dynamics currently has an average rating of "Moderate Buy" and a consensus target price of $407.58.

General Dynamics Stock Down 0.2%

Shares of GD stock opened at $382.81 on Tuesday. General Dynamics Corporation has a fifty-two week low of $306.77 and a fifty-two week high of $400.00. The firm has a market capitalization of $103.57 billion, a PE ratio of 23.36, a P/E/G ratio of 2.22 and a beta of 0.32. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.96 and a current ratio of 1.44. The stock's 50-day simple moving average is $361.54 and its 200-day simple moving average is $353.01.

General Dynamics (NYSE:GD - Get Free Report) last released its earnings results on Wednesday, July 29th. The aerospace company reported $4.24 EPS for the quarter, topping analysts' consensus estimates of $3.96 by $0.28. The firm had revenue of $14.09 billion during the quarter, compared to the consensus estimate of $13.52 billion. General Dynamics had a return on equity of 17.43% and a net margin of 8.18%.The company's revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.74 earnings per share. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. Equities analysts expect that General Dynamics Corporation will post 16.97 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 2nd will be paid a $1.59 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.7%. General Dynamics's dividend payout ratio is presently 38.80%.

About General Dynamics

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.

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