General Dynamics Corporation $GD Shares Sold by Dorsey & Whitney Trust CO LLC

Key Points

• Dorsey & Whitney Trust CO LLC reduced its stake in General Dynamics Corporation by 30.4%, now holding 2,078 shares valued at approximately $566,000.
• CEO Phebe N. Novakovic sold 178,821 shares of General Dynamics stock, decreasing her ownership by 18.85% during a significant insider trading activity.
• General Dynamics reported quarterly earnings of $3.74 per share, exceeding analyst expectations, and announced a quarterly dividend of $1.50 per share.

Dorsey & Whitney Trust CO LLC decreased its position in General Dynamics Corporation (NYSE:GD - Free Report) by 30.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,078 shares of the aerospace company's stock after selling 909 shares during the quarter. Dorsey & Whitney Trust CO LLC's holdings in General Dynamics were worth $566,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of GD. Principal Securities Inc. raised its stake in shares of General Dynamics by 0.5% during the first quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company's stock valued at $2,161,000 after purchasing an additional 37 shares in the last quarter. Sharpepoint LLC raised its position in General Dynamics by 4.2% in the first quarter. Sharpepoint LLC now owns 917 shares of the aerospace company's stock worth $249,000 after acquiring an additional 37 shares in the last quarter. 1858 Wealth Management LLC raised its position in General Dynamics by 1.2% in the first quarter. 1858 Wealth Management LLC now owns 3,224 shares of the aerospace company's stock worth $879,000 after acquiring an additional 38 shares in the last quarter. Keystone Financial Services raised its position in General Dynamics by 1.6% in the first quarter. Keystone Financial Services now owns 2,421 shares of the aerospace company's stock worth $660,000 after acquiring an additional 38 shares in the last quarter. Finally, Pure Financial Advisors LLC raised its position in General Dynamics by 0.7% in the first quarter. Pure Financial Advisors LLC now owns 6,025 shares of the aerospace company's stock worth $1,642,000 after acquiring an additional 39 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

Insider Activity at General Dynamics

In other news, CEO Phebe N. Novakovic sold 178,821 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the completion of the transaction, the chief executive officer directly owned 769,607 shares in the company, valued at $217,898,829.91. The trade was a 18.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William A. Moss sold 17,700 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $316.40, for a total value of $5,600,280.00. Following the transaction, the vice president owned 16,627 shares of the company's stock, valued at approximately $5,260,782.80. This trade represents a 51.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 448,900 shares of company stock valued at $135,121,890. 1.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on GD. Barclays boosted their price target on shares of General Dynamics from $285.00 to $350.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft upgraded shares of General Dynamics from a "hold" rating to a "buy" rating and boosted their price target for the stock from $298.00 to $342.00 in a research report on Tuesday, July 8th. TD Cowen boosted their price target on shares of General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Robert W. Baird boosted their price target on shares of General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, Susquehanna boosted their price objective on General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Nine research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, General Dynamics presently has an average rating of "Hold" and an average target price of $315.78.

General Dynamics Stock Down 0.4%

Shares of General Dynamics stock opened at $316.3220 on Friday. The stock has a market capitalization of $85.09 billion, a P/E ratio of 21.23, a PEG ratio of 1.95 and a beta of 0.48. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average price of $301.82 and a two-hundred day moving average price of $278.78. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $322.50.

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, topping analysts' consensus estimates of $3.47 by $0.27. The firm had revenue of $13.04 billion during the quarter, compared to analysts' expectations of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The company's revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Equities analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. General Dynamics's payout ratio is 40.27%.

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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