General Dynamics Corporation $GD Shares Sold by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC reduced its holdings in General Dynamics Corporation by 9.8%, owning 42,418 shares worth approximately $11.56 million after selling 4,624 shares in the first quarter.
• Insider selling has occurred, with EVP Marguerite Amy Gilliland selling 33,740 shares for over $10.6 million, marking a 42.75% decrease in her position.
• General Dynamics announced a quarterly dividend of $1.50 per share, resulting in an annualized dividend of $6.00 and a yield of 1.9% for shareholders of record on October 10th.

Kestra Advisory Services LLC lessened its position in General Dynamics Corporation (NYSE:GD - Free Report) by 9.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,418 shares of the aerospace company's stock after selling 4,624 shares during the quarter. Kestra Advisory Services LLC's holdings in General Dynamics were worth $11,562,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GD. JPMorgan Chase & Co. increased its stake in General Dynamics by 4.9% during the 1st quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company's stock worth $1,499,819,000 after buying an additional 256,687 shares during the period. Royal Bank of Canada raised its position in General Dynamics by 5.2% in the 4th quarter. Royal Bank of Canada now owns 2,935,046 shares of the aerospace company's stock valued at $773,355,000 after purchasing an additional 145,978 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of General Dynamics by 34.8% in the 1st quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company's stock valued at $749,252,000 after buying an additional 709,782 shares during the period. Northern Trust Corp grew its position in shares of General Dynamics by 4.2% during the fourth quarter. Northern Trust Corp now owns 2,606,137 shares of the aerospace company's stock worth $686,691,000 after buying an additional 103,870 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of General Dynamics by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,582,388 shares of the aerospace company's stock worth $431,327,000 after buying an additional 5,313 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Mark Malcolm sold 1,210 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were 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 approximately $3,249,741.44. This trade represents a 10.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 transaction of $10,634,848.00. Following the transaction, the executive vice president owned 45,192 shares in the company, valued at approximately $14,244,518.40. This trade represents a 42.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 458,260 shares of company stock valued at $138,125,545. 1.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GD has been the subject of several analyst reports. Cowen reiterated a "buy" rating on shares of General Dynamics in a report on Wednesday, June 25th. Sanford C. Bernstein set a $314.00 price target on General Dynamics and gave the stock a "market perform" rating in a report on Monday, July 14th. UBS Group upped their price objective on General Dynamics from $309.00 to $333.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. TD Cowen upped 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. Finally, Wolfe Research raised shares of General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price objective on the stock in a report on Thursday, July 24th. Nine 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 data from MarketBeat, General Dynamics has a consensus rating of "Hold" and a consensus price target of $315.78.

General Dynamics Stock Performance

General Dynamics stock traded down $0.52 during midday trading on Thursday, hitting $324.94. 800,255 shares of the company's stock were exchanged, compared to its average volume of 1,418,054. The firm's 50 day simple moving average is $305.13 and its 200 day simple moving average is $280.58. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $326.03. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. The stock has a market cap of $87.40 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 1.98 and a beta of 0.48.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $0.27. The firm had revenue of $13.04 billion for the quarter, compared to analyst estimates of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The business's revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company posted $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Equities research analysts predict that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, October 10th. General Dynamics's dividend payout ratio is 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.