General Dynamics Corporation $GD Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC decreased its stake in General Dynamics Corporation by 19.5%, holding 7,561 shares worth approximately $2.06 million after selling 1,833 shares in the first quarter.
• Several institutional investors significantly increased their positions in General Dynamics, with GAMMA Investing LLC raising its stake by an extraordinary 34,578.2%, acquiring 1,244,600 shares valued at $339.25 million.
• General Dynamics recently declared a quarterly dividend of $1.50 per share, translating to an annual dividend of $6.00, with a current yield of 1.8% and a dividend payout ratio of 40.27%.

Intech Investment Management LLC lessened its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 19.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,561 shares of the aerospace company's stock after selling 1,833 shares during the quarter. Intech Investment Management LLC's holdings in General Dynamics were worth $2,061,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC boosted its position in General Dynamics by 16.9% during the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company's stock valued at $760,000 after acquiring an additional 417 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its holdings in General Dynamics by 1.1% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 7,547 shares of the aerospace company's stock worth $1,989,000 after buying an additional 81 shares during the period. State of Wyoming bought a new position in General Dynamics in the 4th quarter worth approximately $373,000. Woodline Partners LP bought a new position in General Dynamics in the 4th quarter valued at $243,000. Finally, Waverly Advisors LLC lifted its holdings in shares of General Dynamics by 296.4% during the 4th quarter. Waverly Advisors LLC now owns 16,987 shares of the aerospace company's stock worth $4,476,000 after acquiring an additional 12,702 shares during the last quarter. Institutional investors own 86.14% of the company's stock.

Insider Buying and Selling at General Dynamics

In other news, CEO Phebe N. Novakovic sold 129,090 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $313.57, for a total value of $40,478,751.30. Following the transaction, the chief executive officer directly owned 769,607 shares in the company, valued at approximately $241,325,666.99. This represents a 14.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 transaction, the executive vice president directly owned 45,192 shares of the company's stock, valued at approximately $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. Over the last ninety days, insiders have sold 275,020 shares of company stock valued at $86,414,503. 1.50% of the stock is owned by insiders.

General Dynamics Price Performance

General Dynamics stock traded down $0.93 during mid-day trading on Wednesday, hitting $325.47. The stock had a trading volume of 1,336,351 shares, compared to its average volume of 780,680. The firm's 50 day moving average is $315.50 and its 200 day moving average is $288.50. General Dynamics Corporation has a one year low of $239.20 and a one year high of $330.18. The firm has a market capitalization of $87.55 billion, a P/E ratio of 21.84, a P/E/G ratio of 2.00 and a beta of 0.50. 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 announced its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 8.13% and a return on equity of 17.99%. The business's revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. On average, sell-side analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed 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 of this dividend is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. General Dynamics's payout ratio is presently 40.27%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GD. Sanford C. Bernstein set a $314.00 price objective on shares of General Dynamics and gave the company a "market perform" rating in a research report on Monday, July 14th. Barclays raised their target price on shares of General Dynamics from $285.00 to $350.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. raised their target price on shares of General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. UBS Group lifted their price objective on shares of General Dynamics from $309.00 to $333.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, Jefferies Financial Group set a $325.00 target price on shares of General Dynamics and gave the company a "hold" rating in a research report on Wednesday, July 9th. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, General Dynamics currently 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.