General Dynamics Corporation $GD Shares Sold by Beaumont Financial Advisors LLC

Key Points

• Beaumont Financial Advisors LLC reduced its stake in General Dynamics Corporation by 9.4%, now owning 10,799 shares valued at approximately $3.15 million.
• Several institutional investors increased their holdings, with Deutsche Bank AG making a significant move by raising its position by 120.9% during the 1st quarter.
• General Dynamics reported strong earnings, with $3.74 per share for the quarter, beating estimates by $0.27, and declared a quarterly dividend of $1.50, yielding 1.8% annually.

Beaumont Financial Advisors LLC reduced its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 9.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,799 shares of the aerospace company's stock after selling 1,119 shares during the period. Beaumont Financial Advisors LLC's holdings in General Dynamics were worth $3,150,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of General Dynamics by 4.9% during the 1st quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company's stock worth $1,499,819,000 after purchasing an additional 256,687 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of General Dynamics by 34.8% during the 1st 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 period. Charles Schwab Investment Management Inc. raised its position in shares of General Dynamics by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,582,388 shares of the aerospace company's stock valued at $431,327,000 after buying an additional 5,313 shares during the period. Boston Partners raised its position in shares of General Dynamics by 7.9% during the 1st quarter. Boston Partners now owns 1,296,497 shares of the aerospace company's stock valued at $353,558,000 after buying an additional 94,537 shares during the period. Finally, Deutsche Bank AG raised its position in shares of General Dynamics by 120.9% during the 1st 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 period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GD has been the topic of several analyst reports. 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 research report on Wednesday, June 25th. Wolfe Research raised shares of General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price target on the stock in a research report on Thursday, July 24th. 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 research report on Thursday, July 24th. Barclays lifted their price target on shares of General Dynamics from $285.00 to $350.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, Susquehanna boosted their target price on General Dynamics from $315.00 to $365.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. 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 company's stock. Based on data from MarketBeat.com, General Dynamics presently has a consensus rating of "Hold" and a consensus target price of $315.78.

General Dynamics Stock Up 0.2%

Shares of NYSE GD opened at $324.33 on Friday. The firm has a market cap of $87.24 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 1.99 and a beta of 0.50. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $330.18. The business's 50 day moving average is $318.11 and its two-hundred day moving average is $291.03.

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 (EPS) for the quarter, beating analysts' consensus estimates of $3.47 by $0.27. The company had revenue of $13.04 billion for the quarter, compared to analyst estimates of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The firm's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Research analysts predict that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders 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 payout ratio is 40.27%.

Insiders Place Their Bets

In other General Dynamics news, EVP Marguerite Amy Gilliland sold 33,740 shares of the business'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 owned 45,192 shares in the company, valued at $14,244,518.40. The trade was a 42.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Christopher J. Brady sold 8,150 shares of the business's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $321.18, for a total transaction of $2,617,617.00. Following the completion of the transaction, the vice president owned 22,818 shares of the company's stock, valued at approximately $7,328,685.24. This trade represents a 26.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 275,020 shares of company stock valued at $86,414,503. 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.

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