General Dynamics Corporation $GD Shares Sold by Gotham Asset Management LLC

Key Points

• Gotham Asset Management LLC has reduced its holdings in General Dynamics Corporation by 23.5% during the first quarter, selling 26,976 shares and leaving it with 87,582 shares valued at approximately $23.87 million.
• General Dynamics recently announced a quarterly dividend of $1.50 per share, which will be payable on November 14th, yielding an annualized dividend of 1.9%.
• Insider trading activity includes EVP Marguerite Amy Gilliland selling 33,740 shares and VP William A. Moss selling 17,700 shares, with both transactions reflecting significant decreases in their stock ownership.

Gotham Asset Management LLC decreased its position in General Dynamics Corporation (NYSE:GD - Free Report) by 23.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,582 shares of the aerospace company's stock after selling 26,976 shares during the quarter. Gotham Asset Management LLC's holdings in General Dynamics were worth $23,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in GD. Brighton Jones LLC boosted its holdings in shares of General Dynamics by 16.9% in the 4th quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company's stock worth $760,000 after purchasing an additional 417 shares during the period. Cetera Investment Advisers boosted its holdings in shares of General Dynamics by 5.6% in the 4th quarter. Cetera Investment Advisers now owns 104,173 shares of the aerospace company's stock worth $27,449,000 after purchasing an additional 5,561 shares during the period. Crestline Management LP purchased a new position in shares of General Dynamics in the 4th quarter worth approximately $764,000. Corton Capital Inc. bought a new position in General Dynamics in the 4th quarter valued at $244,000. Finally, Clark Capital Management Group Inc. grew its position in General Dynamics by 0.3% in the 4th quarter. Clark Capital Management Group Inc. now owns 160,048 shares of the aerospace company's stock valued at $42,171,000 after acquiring an additional 456 shares during the last quarter. Institutional investors own 86.14% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on GD. Jefferies Financial Group set a $325.00 price objective on General Dynamics and gave the company a "hold" rating in a research report on Wednesday, July 9th. TD Cowen upped their price objective on General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Sanford C. Bernstein set a $314.00 price objective on General Dynamics and gave the company a "market perform" rating in a research report on Monday, July 14th. Susquehanna upped their target price on General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. upped their target price on General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Nine investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $315.78.

Insider Activity at General Dynamics

In related news, CEO Phebe N. Novakovic sold 178,821 shares of the company's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the transaction, the chief executive officer directly owned 769,607 shares of the company's stock, valued at $217,898,829.91. This represents a 18.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $315.20, for a total value of $10,634,848.00. Following the completion of the transaction, the executive vice president directly owned 45,192 shares in the company, valued at $14,244,518.40. This represents a 42.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 458,260 shares of company stock worth $138,125,545 over the last ninety days. Corporate insiders own 1.50% of the company's stock.

General Dynamics Stock Down 0.4%

Shares of NYSE GD traded down $1.40 during mid-day trading on Tuesday, reaching $321.32. 785,903 shares of the company were exchanged, compared to its average volume of 1,395,134. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32. The stock has a market cap of $86.43 billion, a price-to-earnings ratio of 21.57, a P/E/G ratio of 1.98 and a beta of 0.50. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $326.02. The firm has a 50-day moving average of $311.28 and a 200 day moving average of $285.34.

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 for the quarter, topping analysts' consensus estimates of $3.47 by $0.27. The firm had revenue of $13.04 billion during 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%.The firm's quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. On average, research analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics's dividend payout ratio is currently 40.27%.

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.