Ieq Capital LLC Decreases Stake in General Dynamics Corporation $GD

Key Points

• Ieq Capital LLC reduced its holdings in General Dynamics Corporation by 4.2%, now owning 25,802 shares valued at approximately $7.03 million.
• CEO Phebe N. Novakovic sold 178,821 shares for about $50.63 million, resulting in an 18.85% decline in her ownership of the company's stock.
• General Dynamics announced a quarterly dividend of $1.50 per share, representing an annualized dividend yield of 1.8% and a payout ratio of 40.27%.

Ieq Capital LLC lessened its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 4.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,802 shares of the aerospace company's stock after selling 1,119 shares during the quarter. Ieq Capital LLC's holdings in General Dynamics were worth $7,033,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GD. Rialto Wealth Management LLC raised its stake 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 worth $25,000 after buying an additional 62 shares during the last quarter. Inlight Wealth Management LLC acquired a new position in shares of General Dynamics during the 1st quarter worth $26,000. Copia Wealth Management acquired a new position in shares of General Dynamics during the 4th quarter worth $27,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of General Dynamics during the 1st quarter worth $27,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of 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 Down 0.6%

GD traded down $2.06 during midday trading on Wednesday, hitting $322.33. The company's stock had a trading volume of 154,244 shares, compared to its average volume of 1,405,091. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. The firm has a market cap of $86.70 billion, a P/E ratio of 21.65, a PEG ratio of 1.99 and a beta of 0.50. The firm has a 50-day moving average price of $308.68 and a two-hundred day moving average price of $282.85. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $326.02.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, beating the consensus estimate of $3.47 by $0.27. The company 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 revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. On average, research analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders 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 annualized dividend and a yield of 1.9%. General Dynamics's payout ratio is 40.27%.

Insider Buying and Selling

In other General Dynamics news, Director Mark Malcolm sold 1,210 shares of General Dynamics stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $319.04, for a total value of $386,038.40. Following the completion of the sale, the director owned 10,186 shares in the company, valued at $3,249,741.44. The trade was a 10.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $315.20, for a total value of $10,634,848.00. Following the sale, the executive vice president owned 45,192 shares of the company's stock, valued at $14,244,518.40. The trade was a 42.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 458,260 shares of company stock worth $138,125,545 over the last ninety days. Insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GD. Wolfe Research raised General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price target for the company in a research note on Thursday, July 24th. Jefferies Financial Group set a $325.00 price objective on General Dynamics and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Argus set a $295.00 price objective on General Dynamics in a research report on Tuesday, May 6th. JPMorgan Chase & Co. lifted their price objective on General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Citigroup lifted their price objective on General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a research 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 assigned a Sell rating to the stock. According to MarketBeat.com, General Dynamics currently has an average rating of "Hold" and a consensus target price 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.