General Dynamics Corporation $GD Shares Sold by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp reduced its stake in General Dynamics by 70.7%, selling 56,957 shares and decreasing its holdings to 23,608 shares valued at $6.31 million.
• General Dynamics reported a quarterly earnings per share (EPS) of $3.74, exceeding estimates, and revealed a revenue of $13.04 billion, which is an 8.9% increase from the previous year.
• The company announced a quarterly dividend of $1.50 per share, indicating an annualized dividend of $6.00, with a current dividend yield of 1.9%.

Jones Financial Companies Lllp trimmed its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 70.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,608 shares of the aerospace company's stock after selling 56,957 shares during the period. Jones Financial Companies Lllp's holdings in General Dynamics were worth $6,309,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in GD. Rialto Wealth Management LLC boosted its position in General Dynamics by 213.8% in the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after buying an additional 62 shares during the last quarter. Inlight Wealth Management LLC acquired a new stake in shares of General Dynamics in the first quarter valued at approximately $26,000. Copia Wealth Management acquired a new stake in General Dynamics in the 4th quarter valued at approximately $27,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of General Dynamics during the first quarter valued at $27,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of General Dynamics during the 4th quarter worth about $28,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $321.32 on Wednesday. The firm has a market cap of $86.43 billion, a P/E ratio of 21.57, a P/E/G ratio of 1.98 and a beta of 0.50. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $326.02. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $311.82 and a 200 day simple moving average of $285.59.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings results 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. The business 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 revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Sell-side analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

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

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 129,090 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $313.57, for a total value of $40,478,751.30. Following the transaction, the chief executive officer owned 769,607 shares of the company's stock, valued at approximately $241,325,666.99. This represents a 14.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $315.20, for a total transaction of $10,634,848.00. Following the completion of the sale, the executive vice president owned 45,192 shares in the company, valued at $14,244,518.40. This represents 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 458,260 shares of company stock valued at $138,125,545 in the last ninety days. 1.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GD. TD Cowen boosted their price objective on General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. 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. Citigroup boosted their target price on General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Barclays boosted their target price 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. Finally, Wolfe Research upgraded General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price target for the company in a report on Thursday, July 24th. Nine equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, General Dynamics has a consensus rating of "Hold" and a consensus target price of $315.78.

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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