General Dynamics Corporation $GD Shares Sold by AssuredPartners Investment Advisors LLC

Key Points

• AssuredPartners Investment Advisors LLC reduced its holdings in General Dynamics by 38.9%, after selling 1,875 shares in the second quarter, resulting in total holdings worth $858,000.
• Analysts have given a mixed set of ratings for General Dynamics, with one analyst rating it a Strong Buy and others providing a range of Buy to Sell ratings, leading to a consensus target price of $327.44.
• The company announced a quarterly dividend of $1.50 per share to be paid on November 14th, representing a dividend yield of 1.8%.

AssuredPartners Investment Advisors LLC lowered its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 38.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,940 shares of the aerospace company's stock after selling 1,875 shares during the period. AssuredPartners Investment Advisors LLC's holdings in General Dynamics were worth $858,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in shares of General Dynamics in the first quarter valued at approximately $272,464,000. Ameriprise Financial Inc. raised its position in shares of General Dynamics by 34.8% in the first quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company's stock valued at $749,252,000 after buying an additional 709,782 shares during the last quarter. Deutsche Bank AG raised its position in shares of General Dynamics by 120.9% in the first quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company's stock valued at $343,866,000 after buying an additional 690,349 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of General Dynamics by 4.9% in the first quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company's stock valued at $1,499,819,000 after buying an additional 256,687 shares during the last quarter. Finally, Aurora Private Wealth Inc. raised its position in shares of General Dynamics by 25,390.6% in the first quarter. Aurora Private Wealth Inc. now owns 203,670 shares of the aerospace company's stock valued at $55,516,000 after buying an additional 202,871 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of General Dynamics from $280.00 to $293.00 and gave the company a "sell" rating in a research report on Friday, October 10th. TD Cowen boosted their target price 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. Weiss Ratings reiterated a "buy (b)" rating on shares of General Dynamics in a research note on Wednesday, October 8th. Citigroup boosted their price objective on shares of General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Seaport Res Ptn upgraded shares of General Dynamics from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $327.44.

Insiders Place Their Bets

In other news, EVP Marguerite Amy Gilliland sold 33,740 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $315.20, for a total value of $10,634,848.00. Following the completion of the transaction, the executive vice president directly owned 45,192 shares in the company, valued at approximately $14,244,518.40. This represents a 42.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Lagrand Burns sold 43,860 shares of the company's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the completion of the transaction, the executive vice president owned 39,875 shares of the company's stock, valued at $12,452,165. This trade represents a 52.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 275,020 shares of company stock valued at $86,414,503. Corporate insiders own 1.50% of the company's stock.

General Dynamics Price Performance

Shares of GD stock opened at $330.63 on Friday. The company has a market capitalization of $88.94 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 2.04 and a beta of 0.47. The firm has a fifty day simple moving average of $326.51 and a 200-day simple moving average of $298.49. 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 twelve month low of $239.20 and a twelve month high of $347.37.

General Dynamics (NYSE:GD - Get Free Report) last announced its 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. The business had revenue of $13.04 billion during 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 quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Equities research analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

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

General Dynamics Company 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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