Korea Investment CORP Reduces Holdings in General Dynamics Corporation $GD

Key Points

• Korea Investment CORP reduced its stock holdings in General Dynamics Corporation by 39.8%, owning 101,957 shares after selling 67,396 shares in the first quarter, valued at approximately $27.79 million.
• Numerous institutional investors have adjusted their positions in General Dynamics, with a significant proportion of the stock, approximately 86.14%, now held by institutional investors.
• General Dynamics recently announced a quarterly dividend of $1.50 per share, equating to an annualized dividend of $6.00 and a yield of 1.9%, with a payout ratio of 40.27%.

Korea Investment CORP lessened its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 39.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 101,957 shares of the aerospace company's stock after selling 67,396 shares during the quarter. Korea Investment CORP's holdings in General Dynamics were worth $27,791,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GD. Rialto Wealth Management LLC grew its holdings in General Dynamics by 213.8% in the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after purchasing an additional 62 shares during the period. Inlight Wealth Management LLC acquired a new stake in shares of General Dynamics in the first quarter valued at about $26,000. Copia Wealth Management acquired a new stake in shares of General Dynamics in the fourth quarter valued at about $27,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of General Dynamics in the first quarter valued at about $27,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of General Dynamics in the fourth quarter valued at about $28,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Up 0.9%

Shares of GD traded up $2.8260 during mid-day trading on Friday, hitting $319.3560. 917,215 shares of the company's stock were exchanged, compared to its average volume of 1,006,254. The company has a market cap of $85.90 billion, a price-to-earnings ratio of 21.43, a P/E/G ratio of 1.94 and a beta of 0.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $322.50. The stock's 50-day moving average is $302.55 and its 200-day moving average is $279.21.

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 analysts' consensus estimates 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 analysts' expectations of $12.13 billion. During the same period last year, the firm earned $3.26 earnings per share. General Dynamics'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. On average, sell-side analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders 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 dividend yield of 1.9%. General Dynamics's payout ratio is presently 40.27%.

Insiders Place Their Bets

In other General Dynamics news, Director Leon Rudy F. De sold 5,490 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $312.81, for a total value of $1,717,326.90. Following the transaction, the director directly owned 5,483 shares of the company's stock, valued at approximately $1,715,137.23. The trade was a 50.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP William A. Moss sold 17,700 shares of the company's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $316.40, for a total value of $5,600,280.00. Following the transaction, the vice president directly owned 16,627 shares in the company, valued at $5,260,782.80. This represents a 51.56% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 448,900 shares of company stock valued at $135,121,890. 1.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Sanford C. Bernstein set a $314.00 price objective on General Dynamics and gave the stock a "market perform" rating in a report on Monday, July 14th. TD Cowen lifted their price target on General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Barclays lifted their price target on General Dynamics from $285.00 to $350.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Robert W. Baird lifted their target price on shares of General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price 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. Nine equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, General Dynamics presently has a consensus rating of "Hold" and a consensus 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.