General Dynamics Corporation $GD Shares Sold by State of Alaska Department of Revenue

Key Points

• The State of Alaska Department of Revenue reduced its stake in General Dynamics Corporation by 4.0% during the 2nd quarter, now holding 34,356 shares valued at approximately $10 million.
• Insider activity has seen significant sales, with EVP Mark Lagrand Burns selling 43,860 shares for over $13.6 million, and VP William A. Moss selling 17,700 shares for about $5.6 million, marking substantial decreases in their holdings.
• Analysts have revised their price targets upward, with JPMorgan increasing the target from $284 to $345, and the consensus indicates a "Hold" rating with a target price of $315.78.

State of Alaska Department of Revenue lowered its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 4.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,356 shares of the aerospace company's stock after selling 1,430 shares during the quarter. State of Alaska Department of Revenue's holdings in General Dynamics were worth $10,019,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. NovaPoint Capital LLC lifted its stake in shares of General Dynamics by 5.1% during the second quarter. NovaPoint Capital LLC now owns 14,757 shares of the aerospace company's stock worth $4,304,000 after buying an additional 713 shares during the period. Patton Fund Management Inc. purchased a new stake in General Dynamics during the 2nd quarter valued at about $236,000. Kathmere Capital Management LLC raised its stake in shares of General Dynamics by 36.1% in the second quarter. Kathmere Capital Management LLC now owns 5,227 shares of the aerospace company's stock worth $1,525,000 after purchasing an additional 1,386 shares during the last quarter. BOS Asset Management LLC lifted its holdings in shares of General Dynamics by 22.5% during the second quarter. BOS Asset Management LLC now owns 2,953 shares of the aerospace company's stock worth $861,000 after purchasing an additional 543 shares during the period. Finally, FCG Investment Co boosted its position in General Dynamics by 19.4% in the second quarter. FCG Investment Co now owns 6,914 shares of the aerospace company's stock valued at $2,017,000 after buying an additional 1,122 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

Insider Activity at General Dynamics

In other news, EVP Mark Lagrand Burns sold 43,860 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $312.28, for a total value of $13,696,600.80. Following the sale, the executive vice president directly owned 39,875 shares of the company's stock, valued at approximately $12,452,165. The trade was a 52.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the vice president directly owned 16,627 shares of the company's stock, valued at $5,260,782.80. The trade was a 51.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 275,020 shares of company stock valued at $86,414,503 over the last quarter. 1.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of General Dynamics from $284.00 to $345.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Susquehanna boosted their price objective on General Dynamics from $315.00 to $365.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Jefferies Financial Group set a $325.00 price target on shares of General Dynamics and gave the company a "hold" rating in a research report on Wednesday, July 9th. Cowen restated a "buy" rating on shares of General Dynamics in a research report on Wednesday, June 25th. Finally, UBS Group upped their price target on General Dynamics from $309.00 to $333.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Nine investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $315.78.

General Dynamics Trading Up 1.9%

Shares of General Dynamics stock opened at $330.54 on Friday. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $330.63. 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 stock has a market cap of $88.91 billion, a P/E ratio of 22.18, a P/E/G ratio of 2.03 and a beta of 0.50. The stock's 50 day simple moving average is $318.73 and its 200-day simple moving average is $291.70.

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

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, October 10th. General Dynamics's payout ratio is 40.27%.

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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