General Dynamics Corporation $GD Shares Sold by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in General Dynamics by 0.6%, owning approximately 406,362 shares valued at $110.8 million after selling 2,500 shares.
• Several brokerages have issued positive ratings on General Dynamics, with Wolfe Research upgrading the stock to "outperform" and setting a price target of $360.00, amidst a consensus target of $315.78.
• General Dynamics announced a quarterly dividend of $1.50 per share, representing an annualized dividend of $6.00 and a yield of 1.9%, with the payment scheduled for November 14th.

Hotchkis & Wiley Capital Management LLC reduced its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 0.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 406,362 shares of the aerospace company's stock after selling 2,500 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.15% of General Dynamics worth $110,766,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Principal Securities Inc. boosted its stake in shares of General Dynamics by 0.5% during the 1st quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company's stock worth $2,161,000 after acquiring an additional 37 shares in the last quarter. Sharpepoint LLC boosted its stake in shares of General Dynamics by 4.2% during the 1st quarter. Sharpepoint LLC now owns 917 shares of the aerospace company's stock worth $249,000 after acquiring an additional 37 shares in the last quarter. United Asset Strategies Inc. boosted its stake in shares of General Dynamics by 1.2% during the 1st quarter. United Asset Strategies Inc. now owns 3,140 shares of the aerospace company's stock worth $856,000 after acquiring an additional 37 shares in the last quarter. 1858 Wealth Management LLC boosted its stake in shares of General Dynamics by 1.2% during the 1st quarter. 1858 Wealth Management LLC now owns 3,224 shares of the aerospace company's stock worth $879,000 after acquiring an additional 38 shares in the last quarter. Finally, Keystone Financial Services raised its position in shares of General Dynamics by 1.6% during the 1st quarter. Keystone Financial Services now owns 2,421 shares of the aerospace company's stock worth $660,000 after purchasing an additional 38 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Trading Up 1.0%

Shares of General Dynamics stock traded up $3.32 during mid-day trading on Wednesday, hitting $325.50. The stock had a trading volume of 846,672 shares, compared to its average volume of 1,424,314. The firm has a 50-day moving average of $304.19 and a two-hundred day moving average of $280.27. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $325.82. 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 firm has a market cap of $87.55 billion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 1.96 and a beta of 0.48.

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 for the quarter, beating the consensus estimate of $3.47 by $0.27. The business had revenue of $13.04 billion during the quarter, compared to analysts' expectations of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The business's revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. 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 given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. General Dynamics's dividend payout ratio (DPR) is presently 40.27%.

Insider Activity

In related news, EVP Mark Lagrand Burns sold 43,860 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the completion of the transaction, the executive vice president owned 39,875 shares of the company's stock, valued at approximately $12,452,165. This trade represents a 52.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Christopher J. Brady sold 8,150 shares of the company's stock in a transaction on 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 sale, the vice president directly owned 22,818 shares in the company, valued at $7,328,685.24. This represents a 26.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 458,260 shares of company stock worth $138,125,545 in the last three months. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GD has been the subject of several research analyst reports. Citigroup upped their price target on shares of General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Sanford C. Bernstein set a $314.00 price target on shares of General Dynamics and gave the stock a "market perform" rating in a research report on Monday, July 14th. Robert W. Baird upped their price target on shares of General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. upped their price target on shares of General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of General Dynamics from a "hold" rating to a "buy" rating and upped their price target for the stock from $298.00 to $342.00 in a research report on Tuesday, July 8th. Nine 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. Based on data from MarketBeat.com, General Dynamics has an average rating of "Hold" and an average price target of $315.78.

About General Dynamics

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.