General Dynamics Corporation $GD Stake Cut by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC cut its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 20.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,844 shares of the aerospace company's stock after selling 2,760 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in General Dynamics were worth $3,163,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in GD. Nuveen LLC bought a new stake in General Dynamics in the first quarter valued at $272,464,000. Ameriprise Financial Inc. lifted its stake in General Dynamics by 34.8% in the first quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company's stock valued at $749,252,000 after buying an additional 709,782 shares during the last quarter. Deutsche Bank AG lifted its stake in General Dynamics by 120.9% in the first quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company's stock valued at $343,866,000 after buying an additional 690,349 shares during the last quarter. JPMorgan Chase & Co. lifted 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 last quarter. Finally, SG Americas Securities LLC lifted its stake in General Dynamics by 1,488.8% in the first quarter. SG Americas Securities LLC now owns 221,484 shares of the aerospace company's stock valued at $60,372,000 after buying an additional 207,544 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Trading Down 0.9%

Shares of GD opened at $343.47 on Wednesday. The business's 50-day moving average price is $323.16 and its 200 day moving average price is $295.42. The stock has a market capitalization of $92.39 billion, a P/E ratio of 23.05, a P/E/G ratio of 2.12 and a beta of 0.47. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $347.37. 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 results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $0.27. The firm had revenue of $13.04 billion for the quarter, compared to analysts' expectations of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.General Dynamics's revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics's payout ratio is 40.27%.

Insider Activity at General Dynamics

In other General Dynamics news, EVP Mark Lagrand Burns sold 43,860 shares of General Dynamics 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 transaction, the executive vice president owned 39,875 shares of the company's stock, valued at $12,452,165. The trade was a 52.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Christopher J. Brady sold 8,150 shares of General Dynamics stock in a transaction dated 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 transaction, the vice president directly owned 22,818 shares in the company, valued at approximately $7,328,685.24. This trade represents a 26.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 275,020 shares of company stock worth $86,414,503. Company insiders own 1.50% of the company's stock.

Analyst Ratings Changes

GD has been the topic of a number of recent research reports. Sanford C. Bernstein set a $314.00 target price on General Dynamics and gave the company a "market perform" rating in a research note on Monday, July 14th. Robert W. Baird lifted their price objective on shares of General Dynamics from $283.00 to $350.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Susquehanna lifted their price objective on shares of General Dynamics from $315.00 to $365.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Seaport Res Ptn upgraded shares of General Dynamics from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 29th. Finally, Wall Street Zen upgraded shares of General Dynamics from a "hold" rating to a "buy" rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company 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.

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