Janney Montgomery Scott LLC Sells 4,230 Shares of General Dynamics Corporation $GD

Key Points

• Janney Montgomery Scott LLC reduced its stake in General Dynamics Corporation by 2.0%, selling 4,230 shares and now holds approximately 0.08% of the company's shares valued at nearly $60 million.
• General Dynamics reported strong earnings with an EPS of $3.74 for the last quarter, exceeding estimates, and its revenue increased by 8.9% year-over-year to $13.04 billion.
• The company announced a quarterly dividend of $1.50 per share, representing an annualized dividend yield of 1.8% with a payout ratio of 40.27%.

Janney Montgomery Scott LLC lessened its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 205,583 shares of the aerospace company's stock after selling 4,230 shares during the period. Janney Montgomery Scott LLC owned approximately 0.08% of General Dynamics worth $59,960,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in General Dynamics by 16.9% in 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 period. NBC Securities Inc. lifted its stake in shares of General Dynamics by 107,042.9% in the 1st quarter. NBC Securities Inc. now owns 7,500 shares of the aerospace company's stock worth $2,044,000 after purchasing an additional 7,493 shares during the period. Merit Financial Group LLC boosted its holdings in shares of General Dynamics by 28.9% in the first quarter. Merit Financial Group LLC now owns 11,154 shares of the aerospace company's stock worth $3,040,000 after buying an additional 2,501 shares during the last quarter. Fulton Bank N.A. boosted its holdings in shares of General Dynamics by 2.3% in the first quarter. Fulton Bank N.A. now owns 2,942 shares of the aerospace company's stock worth $802,000 after buying an additional 67 shares during the last quarter. Finally, Sentry Investment Management LLC grew its position in General Dynamics by 6.8% during the first quarter. Sentry Investment Management LLC now owns 815 shares of the aerospace company's stock valued at $202,000 after buying an additional 52 shares during the period. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Performance

NYSE GD opened at $340.73 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $341.02. The business has a 50-day moving average price of $320.30 and a 200-day moving average price of $292.74. The firm has a market cap of $91.65 billion, a price-to-earnings ratio of 22.87, a price-to-earnings-growth ratio of 2.04 and a beta of 0.50.

General Dynamics (NYSE:GD - Get Free Report) last issued 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. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The company had revenue of $13.04 billion for the quarter, compared to the consensus estimate of $12.13 billion. During the same quarter last year, the company earned $3.26 EPS. The firm's quarterly revenue was up 8.9% on a year-over-year basis. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. As a group, equities research analysts predict that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business 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. The ex-dividend date 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 is currently 40.27%.

Analysts Set New Price Targets

GD has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Susquehanna raised 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. TD Cowen boosted their price target on General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Citigroup raised their price objective on General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Cowen reaffirmed a "buy" rating on shares of General Dynamics in a research report on Wednesday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, General Dynamics currently has a consensus rating of "Hold" and a consensus target price of $315.78.

Insider Activity at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 8,150 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $321.18, for a total value of $2,617,617.00. Following the sale, the vice president owned 22,818 shares in the company, valued at $7,328,685.24. The trade was a 26.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $10,634,848.00. Following the transaction, the executive vice president directly owned 45,192 shares of the company's stock, valued at $14,244,518.40. This trade represents a 42.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 275,020 shares of company stock valued at $86,414,503 in the last ninety days. Corporate insiders own 1.50% of the company's stock.

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.

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