General Dynamics Corporation $GD Stock Position Reduced by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC reduced its stake in General Dynamics Corporation by 83.0% during the first quarter, now owning 2,757 shares valued at approximately $752,000.
• General Dynamics recently reported earnings of $3.74 per share, exceeding analyst expectations, with a revenue increase of 8.9% year-over-year.
• The company declared a quarterly dividend of $1.50 to be paid on November 14th, translating to an annual yield of 1.8%.

Great Lakes Advisors LLC reduced its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 83.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,757 shares of the aerospace company's stock after selling 13,499 shares during the period. Great Lakes Advisors LLC's holdings in General Dynamics were worth $752,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC grew its position in shares of General Dynamics by 213.8% during 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 position in shares of General Dynamics during the first quarter valued at approximately $26,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of General Dynamics in the 1st quarter worth approximately $27,000. Copia Wealth Management acquired a new position in General Dynamics during the 4th quarter valued at approximately $27,000. Finally, Heck Capital Advisors LLC bought a new position in General Dynamics during the 4th quarter worth $28,000. Institutional investors and hedge funds own 86.14% of the company's stock.

General Dynamics Trading Up 2.0%

NYSE GD opened at $329.60 on Friday. The firm's 50 day moving average price is $313.11 and its two-hundred day moving average price is $286.42. 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 Corporation has a twelve month low of $239.20 and a twelve month high of $330.00. The stock has a market cap of $88.66 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.98 and a beta of 0.50.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (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 analyst estimates of $12.13 billion. During the same period in the prior year, the firm earned $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. Equities analysts anticipate that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The firm 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. The ex-dividend date is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. General Dynamics's dividend payout ratio is currently 40.27%.

Wall Street Analyst Weigh In

GD has been the topic of several analyst reports. UBS Group raised their price target on shares of General Dynamics from $309.00 to $333.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Wolfe Research raised General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 target price on the stock in a research note on Thursday, July 24th. JPMorgan Chase & Co. increased 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. Citigroup lifted their price objective on shares of General Dynamics from $348.00 to $368.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Cowen reiterated a "buy" rating on shares of General Dynamics in a research report on Wednesday, June 25th. Nine research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $315.78.

Insider Activity

In other General Dynamics news, VP William A. Moss sold 17,700 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $316.40, for a total transaction of $5,600,280.00. Following the completion of the transaction, the vice president 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher J. Brady sold 8,150 shares of the business's stock in a transaction dated Monday, August 25th. The stock was 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 of the company's stock, valued at $7,328,685.24. This represents a 26.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 279,439 shares of company stock valued at $87,495,956. Corporate insiders own 1.50% of the company's stock.

General Dynamics 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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