General Dynamics Corporation $GD Shares Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth cut its General Dynamics stake by 22.1% in the second quarter, selling 40,576 shares and retaining 142,773 shares valued at approximately $50.6 million. Institutional investors collectively own 86.14% of the company.
• General Dynamics exceeded quarterly expectations, reporting $4.24 in EPS and $14.09 billion in revenue, with revenue up 8.1% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $411.58.
• The company declared a quarterly dividend of $1.59 per share, equivalent to $6.36 annually and a 1.8% yield; shares recently opened at $356.44.

Corient Private Wealth LP cut its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 22.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 142,773 shares of the aerospace company's stock after selling 40,576 shares during the quarter. Corient Private Wealth LP owned 0.05% of General Dynamics worth $50,576,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in GD. California State Teachers Retirement System lifted its holdings in General Dynamics by 35,603.0% during the second quarter. California State Teachers Retirement System now owns 126,417,629 shares of the aerospace company's stock valued at $44,782,181,000 after purchasing an additional 126,063,548 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of General Dynamics during the second quarter worth about $6,840,590,000. Bank of America Corp DE acquired a new position in shares of General Dynamics during the 2nd quarter worth about $2,603,527,000. Bank of New York Mellon Corp purchased a new position in General Dynamics in the 2nd quarter valued at about $429,073,000. Finally, AQR Capital Management LLC lifted its stake in General Dynamics by 118.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,663,847 shares of the aerospace company's stock valued at $567,372,000 after buying an additional 901,679 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

Insider Activity

In other news, Director Mark Malcolm sold 5,480 shares of the business's stock in a transaction dated 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 transaction, the director owned 10,643 shares of the company's stock, valued at approximately $3,884,695. The trade was a 33.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Marguerite Gilliland sold 43,180 shares of the firm's stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $378.04, for a total transaction of $16,323,767.20. Following the sale, the executive vice president owned 44,767 shares of the company's stock, valued at approximately $16,923,716.68. The trade was a 49.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 100,228 shares of company stock valued at $38,052,853. 1.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GD shares. Sanford C. Bernstein reiterated a "market perform" rating and set a $421.00 price objective on shares of General Dynamics in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $384.00 target price on shares of General Dynamics in a research report on Thursday, July 30th. Jefferies Financial Group lifted their price target on General Dynamics from $400.00 to $440.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. TD Cowen boosted their price target on General Dynamics from $390.00 to $420.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Finally, Weiss Ratings raised General Dynamics from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $411.58.

General Dynamics Stock Up 0.6%

Shares of NYSE GD opened at $356.44 on Friday. The stock has a market cap of $96.44 billion, a PE ratio of 21.75, a P/E/G ratio of 2.05 and a beta of 0.32. The company has a current ratio of 1.44, a quick ratio of 0.96 and a debt-to-equity ratio of 0.23. General Dynamics Corporation has a 12-month low of $306.77 and a 12-month high of $400.00. The company has a 50-day moving average of $377.84 and a 200 day moving average of $357.53.

General Dynamics (NYSE:GD - Get Free Report) last released its earnings results on Wednesday, July 29th. The aerospace company reported $4.24 earnings per share for the quarter, topping analysts' consensus estimates of $3.96 by $0.28. The business had revenue of $14.09 billion for the quarter, compared to analyst estimates of $13.52 billion. General Dynamics had a net margin of 8.18% and a return on equity of 17.43%. The business's revenue was up 8.1% on a year-over-year basis. During the same period last year, the company posted $3.74 EPS. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. As a group, sell-side analysts predict that General Dynamics Corporation will post 16.99 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 9th will be paid a $1.59 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.8%. General Dynamics's dividend payout ratio (DPR) is 38.80%.

About General Dynamics

General Dynamics Corporation NYSE: GD is an aerospace and defense company that develops and delivers products and services for government and commercial customers. Its operations are organized across four principal business areas: Aerospace, Marine Systems, Combat Systems and Technologies.

Through its Aerospace business, General Dynamics manufactures Gulfstream business jets and provides aircraft maintenance, repair and refurbishment services. Its Marine Systems businesses design and build nuclear-powered submarines and surface ships, while Combat Systems produces military vehicles, weapons systems and munitions.

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