Steward Partners Investment Advisory LLC Sells 3,479 Shares of General Dynamics Corporation $GD

Key Points

• Steward Partners Investment Advisory LLC reduced its stake in General Dynamics Corporation by 8.5%, now holding 37,628 shares valued at over $10 million.
• Several large investors, including Rialto Wealth Management and Inlight Wealth Management, have recently acquired stakes in General Dynamics, with institutional investors collectively owning 86.14% of the company's stock.
• General Dynamics announced a quarterly dividend of $1.50 per share, set to be paid on November 14th, representing an annual yield of 1.9%.

Steward Partners Investment Advisory LLC trimmed its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 8.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,628 shares of the aerospace company's stock after selling 3,479 shares during the period. Steward Partners Investment Advisory LLC's holdings in General Dynamics were worth $10,257,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of GD. JPMorgan Chase & Co. raised its stake in General Dynamics by 4.9% in the first quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company's stock valued at $1,499,819,000 after buying an additional 256,687 shares during the period. Royal Bank of Canada lifted its holdings in General Dynamics by 5.2% during the 4th quarter. Royal Bank of Canada now owns 2,935,046 shares of the aerospace company's stock worth $773,355,000 after buying an additional 145,978 shares during the period. Northern Trust Corp lifted its holdings in General Dynamics by 4.2% during the 4th quarter. Northern Trust Corp now owns 2,606,137 shares of the aerospace company's stock worth $686,691,000 after buying an additional 103,870 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of General Dynamics by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,582,388 shares of the aerospace company's stock worth $431,327,000 after acquiring an additional 5,313 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in General Dynamics by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,542,745 shares of the aerospace company's stock valued at $406,498,000 after buying an additional 8,696 shares in the last quarter. Institutional investors own 86.14% of the company's stock.

Insider Activity at General Dynamics

In other General Dynamics news, Director Leon Rudy F. De sold 5,490 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $312.81, for a total value of $1,717,326.90. Following the sale, the director owned 5,483 shares in the company, valued at $1,715,137.23. The trade was a 50.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Lagrand Burns sold 43,860 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the completion of the sale, the executive vice president owned 39,875 shares in the company, valued at approximately $12,452,165. This trade represents a 52.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 448,900 shares of company stock worth $135,121,890 in the last 90 days. Company insiders own 1.50% of the company's stock.

General Dynamics Stock Up 0.9%

Shares of GD traded up $2.8260 on Friday, hitting $319.3560. 917,192 shares of the stock traded hands, compared to its average volume of 1,432,405. The company has a market capitalization of $85.90 billion, a PE ratio of 21.43, a P/E/G ratio of 1.95 and a beta of 0.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. The business has a 50 day simple moving average of $301.82 and a 200 day simple moving average of $278.78. General Dynamics Corporation has a one year low of $239.20 and a one year high of $322.50.

General Dynamics (NYSE:GD - Get Free Report) last posted its earnings results 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 net margin of 8.13% and a return on equity of 17.99%. The business had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. During the same quarter in the previous year, the firm posted $3.26 EPS. The firm's revenue was up 8.9% on a year-over-year basis. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. As a group, equities analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

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 paid 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%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays lifted their price target on General Dynamics from $285.00 to $350.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Wolfe Research upgraded General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 target price on the stock in a research report on Thursday, July 24th. Robert W. Baird increased their target price on General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Cowen reaffirmed a "buy" rating on shares of General Dynamics in a report on Wednesday, June 25th. Finally, TD Securities increased their target price on General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Nine research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average 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.