OMERS ADMINISTRATION Corp Decreases Stock Holdings in General Dynamics Corporation $GD

Key Points

• OMERS ADMINISTRATION Corp has reduced its holdings in General Dynamics Corporation by 11.0%, now owning 8,626 shares valued at approximately $2.35 million.
• General Dynamics reported quarterly earnings of $3.74 per share, surpassing analysts' expectations, with revenue of $13.04 billion, reflecting an 8.9% year-over-year increase.
• The company announced a quarterly dividend of $1.50 per share, which will be paid on November 14th, representing an annualized dividend yield of 1.8%.

OMERS ADMINISTRATION Corp lowered its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 11.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,626 shares of the aerospace company's stock after selling 1,070 shares during the period. OMERS ADMINISTRATION Corp's holdings in General Dynamics were worth $2,351,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GD. Rialto Wealth Management LLC grew its position in shares of 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 bought a new stake in shares of General Dynamics during the 1st quarter valued at about $26,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of General Dynamics during the 1st quarter valued at about $27,000. Copia Wealth Management bought a new stake in shares of General Dynamics during the 4th quarter valued at about $27,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of General Dynamics during the 4th quarter valued at about $28,000. Institutional investors own 86.14% of the company's stock.

General Dynamics Stock Up 0.1%

Shares of General Dynamics stock traded up $0.38 on Thursday, hitting $323.19. The company had a trading volume of 190,710 shares, compared to its average volume of 1,400,823. The stock has a market capitalization of $86.94 billion, a price-to-earnings ratio of 21.70, a P/E/G ratio of 1.99 and a beta of 0.50. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $326.02. The stock has a 50 day moving average of $309.41 and a 200-day moving average of $283.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, topping the consensus estimate of $3.47 by $0.27. The firm had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The company's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. As a group, sell-side analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

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

Analyst Ratings Changes

GD has been the topic of several research analyst reports. Barclays upped their target price on General Dynamics from $285.00 to $350.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft upgraded General Dynamics from a "hold" rating to a "buy" rating and upped their target price for the company from $298.00 to $342.00 in a research report on Tuesday, July 8th. JPMorgan Chase & Co. upped their price target on General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Cowen reaffirmed a "buy" rating on shares of General Dynamics in a research note on Wednesday, June 25th. Finally, Jefferies Financial Group set a $325.00 price target on General Dynamics and gave the stock a "hold" rating in a research note on Wednesday, July 9th. Nine analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $315.78.

Insider Transactions at General Dynamics

In related news, VP William A. Moss sold 17,700 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $316.40, for a total transaction of $5,600,280.00. Following the completion of the sale, the vice president directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Christopher J. Brady sold 8,150 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $321.18, for a total value of $2,617,617.00. Following the sale, the vice president directly owned 22,818 shares of the company's stock, valued at $7,328,685.24. The trade was a 26.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 458,260 shares of company stock valued at $138,125,545. Corporate insiders own 1.50% of the company's stock.

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.