Cresset Asset Management LLC Reduces Holdings in General Dynamics Corporation $GD

Key Points

• Cresset Asset Management LLC has reduced its holdings in General Dynamics Corporation by 6.1%, now owning 34,168 shares valued at approximately $9.31 million.
• Various hedge funds have recently altered their positions in General Dynamics, with Rialto Wealth Management increasing its stake significantly by 213.8%.
• General Dynamics announced a quarterly dividend of $1.50 per share to be paid on November 14th, resulting in an annualized yield of 1.9%.

Cresset Asset Management LLC trimmed its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 6.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 34,168 shares of the aerospace company's stock after selling 2,227 shares during the quarter. Cresset Asset Management LLC's holdings in General Dynamics were worth $9,313,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in General Dynamics by 34,578.2% during the 1st quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company's stock valued at $339,253,000 after acquiring an additional 1,241,011 shares during the period. Castlekeep Investment Advisors LLC bought a new position in shares of General Dynamics in the 4th quarter worth approximately $279,582,000. Nuveen LLC bought a new position in shares of General Dynamics in the 1st quarter worth approximately $272,464,000. Deutsche Bank AG lifted its stake in shares of General Dynamics by 120.9% in the 1st quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company's stock worth $343,866,000 after purchasing an additional 690,349 shares during the period. Finally, Voloridge Investment Management LLC lifted its stake in shares of General Dynamics by 6,387.2% in the 4th quarter. Voloridge Investment Management LLC now owns 401,236 shares of the aerospace company's stock worth $105,722,000 after purchasing an additional 395,051 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of General Dynamics stock traded up $2.8260 on Friday, hitting $319.3560. 551,461 shares of the company traded hands, compared to its average volume of 1,432,214. The stock has a market capitalization of $85.90 billion, a P/E ratio of 21.43, a price-to-earnings-growth ratio of 1.95 and a beta of 0.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $322.50. The business has a 50-day simple moving average of $301.82 and a 200 day simple moving average of $278.78.

General Dynamics (NYSE:GD - Get Free Report) last released 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 analysts' expectations of $12.13 billion. During the same quarter last year, the business 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. Research analysts expect that General Dynamics Corporation will post 14.83 earnings per share 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 given 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 payout ratio is currently 40.27%.

Analyst Ratings Changes

Several equities analysts have weighed in on GD shares. JPMorgan Chase & Co. lifted their price target 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. TD Cowen lifted their price target on shares of General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Robert W. Baird lifted their price target on shares of General Dynamics from $283.00 to $350.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Citigroup lifted their price target on shares of General Dynamics from $348.00 to $368.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Jefferies Financial Group set a $325.00 price target on shares of General Dynamics and gave the company a "hold" rating in a report on Wednesday, July 9th. Nine investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $315.78.

Insider Buying and Selling

In related news, CEO Phebe N. Novakovic sold 129,090 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $313.57, for a total value of $40,478,751.30. Following the sale, the chief executive officer owned 769,607 shares in the company, valued at approximately $241,325,666.99. The trade was a 14.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of General Dynamics stock in a transaction 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 transaction, the executive vice president directly owned 45,192 shares of the company's stock, valued at $14,244,518.40. The trade was a 42.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 448,900 shares of company stock valued at $135,121,890 in the last three months. Corporate insiders own 1.50% of the company's stock.

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.