General Dynamics Corporation $GD Shares Sold by Vest Financial LLC

Key Points

• Vest Financial LLC reduced its stake in General Dynamics by 2.3%, owning 201,790 shares valued at approximately $58.85 million.
• General Dynamics recently received several upgrades from analysts, including a strong-buy rating from Seaport Res Ptn and a new price target of $365 from Susquehanna.
• The company declared a quarterly dividend of $1.50 per share, representing a 1.8% yield, to be paid on November 14th to investors of record as of October 10th.

Vest Financial LLC lowered its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 201,790 shares of the aerospace company's stock after selling 4,764 shares during the quarter. Vest Financial LLC owned about 0.08% of General Dynamics worth $58,854,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Inlight Wealth Management LLC acquired a new position in General Dynamics in the 1st quarter worth approximately $26,000. Smallwood Wealth Investment Management LLC purchased a new stake in General Dynamics in the 1st quarter worth approximately $27,000. Quarry LP boosted its position in General Dynamics by 783.3% in the 1st quarter. Quarry LP now owns 106 shares of the aerospace company's stock worth $29,000 after purchasing an additional 94 shares in the last quarter. Abound Financial LLC purchased a new stake in General Dynamics in the 1st quarter worth approximately $32,000. Finally, Nova Wealth Management Inc. purchased a new stake in General Dynamics in the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 86.14% of the company's stock.

Analysts Set New Price Targets

GD has been the topic of a number of recent analyst reports. Wall Street Zen upgraded General Dynamics from a "hold" rating to a "buy" rating in a research report on Saturday, October 4th. Seaport Res Ptn upgraded General Dynamics from a "hold" rating to a "strong-buy" rating in a report on Monday, September 29th. Susquehanna raised 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. The Goldman Sachs Group raised their price objective on General Dynamics from $280.00 to $293.00 and gave the company a "sell" rating in a report on Friday. Finally, UBS Group raised their price objective on General Dynamics from $309.00 to $333.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, General Dynamics presently has an average rating of "Hold" and an average price target of $324.11.

General Dynamics Stock Down 2.8%

Shares of GD opened at $333.03 on Monday. The firm has a market cap of $89.58 billion, a P/E ratio of 22.35, a price-to-earnings-growth ratio of 2.05 and a beta of 0.47. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $347.37. The company's 50-day moving average price is $324.93 and its 200 day moving average price is $297.14. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD - Get Free Report) last issued 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 firm had revenue of $13.04 billion for the quarter, compared to analyst estimates of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. General Dynamics's revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. On average, sell-side analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

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%.

Insider Transactions at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 129,090 shares of General Dynamics 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 completion of the transaction, the chief executive officer directly owned 769,607 shares of the company's stock, valued at $241,325,666.99. The trade was a 14.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark Malcolm sold 3,220 shares of General Dynamics stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $329.45, for a total value of $1,060,829.00. Following the completion of the transaction, the director directly owned 10,186 shares of the company's stock, valued at approximately $3,355,777.70. This represents a 24.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 275,020 shares of company stock worth $86,414,503 in the last 90 days. 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.

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