General Dynamics Corporation $GD Shares Sold by Logan Capital Management Inc.

Key Points

• Logan Capital Management Inc. reduced its stake in General Dynamics Corporation by 73.8%, holding only 3,300 shares valued at $900,000 after selling 9,313 shares in the latest quarter.
• Research firms have set new price targets for General Dynamics, with Deutsche Bank upgrading its rating and raising the target price to $342.00, while several analysts maintain a consensus rating of "Hold" and an average price target of $315.78.
• The company announced a quarterly dividend of $1.50 per share, representing an annualized yield of 1.9%, with the ex-dividend date set for October 10th.

Logan Capital Management Inc. cut its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 73.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,300 shares of the aerospace company's stock after selling 9,313 shares during the period. Logan Capital Management Inc.'s holdings in General Dynamics were worth $900,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GD. MBB Public Markets I LLC bought a new position in shares of General Dynamics during the first quarter worth about $331,000. Meiji Yasuda Life Insurance Co acquired a new stake in General Dynamics during the first quarter valued at approximately $575,000. United Services Automobile Association bought a new position in General Dynamics during the 1st quarter worth approximately $1,605,000. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of General Dynamics by 9.4% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 9,095 shares of the aerospace company's stock worth $2,479,000 after acquiring an additional 781 shares in the last quarter. Finally, Caxton Associates LLP bought a new stake in shares of General Dynamics in the 1st quarter valued at approximately $1,830,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on GD. Jefferies Financial Group set a $325.00 target price on shares of General Dynamics and gave the company a "hold" rating in a research note on Wednesday, July 9th. UBS Group increased their price objective on shares of General Dynamics from $309.00 to $333.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. TD Cowen lifted their target price on General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Deutsche Bank Aktiengesellschaft upgraded General Dynamics from a "hold" rating to a "buy" rating and increased their price target for the stock from $298.00 to $342.00 in a research report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. boosted their price objective on General Dynamics from $284.00 to $345.00 and gave the company an "overweight" rating in a research 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 given a Sell rating to the company. According to MarketBeat.com, General Dynamics has a consensus rating of "Hold" and an average price target of $315.78.

Insider Transactions at General Dynamics

In related news, Director Mark Malcolm sold 1,210 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $319.04, for a total value of $386,038.40. Following the sale, the director directly owned 10,186 shares in the company, valued at $3,249,741.44. The trade was a 10.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP William A. Moss sold 17,700 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $316.40, for a total transaction of $5,600,280.00. Following the sale, the vice president directly owned 16,627 shares of the company's stock, valued at approximately $5,260,782.80. This represents a 51.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 458,260 shares of company stock valued at $138,125,545 in the last quarter. 1.50% of the stock is owned by company insiders.

General Dynamics Price Performance

Shares of NYSE GD opened at $321.32 on Wednesday. The firm's 50-day simple moving average is $311.82 and its 200 day simple moving average is $285.59. The stock 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 quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The business's revenue was up 8.9% on a year-over-year basis. During the same period last year, the firm posted $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 EPS for the current year.

General Dynamics Announces Dividend

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