MAI Capital Management Trims Position in General Dynamics Corporation $GD

Key Points

• MAI Capital Management reduced its stake in General Dynamics Corporation by 6.9%, now holding 13,710 shares valued at approximately $3.74 million.
• General Dynamics reported a quarterly EPS of $3.74, exceeding analysts' expectations of $3.47, and achieved revenues of $13.04 billion, reflecting an 8.9% year-over-year increase.
• The company announced a quarterly dividend of $1.50 per share, representing an annualized yield of 1.8%, with the ex-dividend date set for October 10th.

MAI Capital Management reduced its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,710 shares of the aerospace company's stock after selling 1,011 shares during the quarter. MAI Capital Management's holdings in General Dynamics were worth $3,737,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in General Dynamics by 4.9% in the first quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company's stock valued at $1,499,819,000 after acquiring an additional 256,687 shares during the last quarter. Royal Bank of Canada boosted its position in General Dynamics by 5.2% in the fourth quarter. Royal Bank of Canada now owns 2,935,046 shares of the aerospace company's stock valued at $773,355,000 after buying an additional 145,978 shares in the last quarter. Ameriprise Financial Inc. boosted its position in General Dynamics by 34.8% in the first 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its position in General Dynamics by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,582,388 shares of the aerospace company's stock valued at $431,327,000 after buying an additional 5,313 shares in the last quarter. Finally, Boston Partners lifted its holdings in shares of General Dynamics by 7.9% during the first quarter. Boston Partners now owns 1,296,497 shares of the aerospace company's stock worth $353,558,000 after purchasing an additional 94,537 shares during the period. 86.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on GD shares. Wolfe Research upgraded shares of General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price target on the stock in a report on Thursday, July 24th. Sanford C. Bernstein set a $314.00 target price on shares of General Dynamics and gave the company a "market perform" rating in a report on Monday, July 14th. Susquehanna boosted their target price on shares of General Dynamics from $315.00 to $365.00 and gave the company a "positive" rating in a report on Thursday, July 24th. UBS Group boosted their target price 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, Cowen reiterated a "buy" rating on shares of General Dynamics in a report on Wednesday, June 25th. Nine analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, General Dynamics has an average rating of "Hold" and a consensus price target of $315.78.

Insider Buying and Selling

In related news, CEO Phebe N. Novakovic sold 129,090 shares of the business's stock in a transaction 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 sale, the chief executive officer owned 769,607 shares in the company, valued at approximately $241,325,666.99. The trade was a 14.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Christopher J. Brady sold 8,150 shares of the company's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $321.18, for a total transaction of $2,617,617.00. Following the completion of the transaction, the vice president owned 22,818 shares in the company, valued at approximately $7,328,685.24. The trade was a 26.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 458,260 shares of company stock valued at $138,125,545 in the last three months. Corporate insiders own 1.50% of the company's stock.

General Dynamics Stock Up 0.1%

NYSE:GD traded up $0.36 on Friday, reaching $322.80. 860,924 shares of the stock traded hands, compared to its average volume of 815,280. The company has a market capitalization of $86.83 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 1.98 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 Corporation has a 12 month low of $239.20 and a 12 month high of $326.02. The company's fifty day simple moving average is $310.66 and its 200 day simple moving average is $284.51.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, topping analysts' consensus estimates of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The firm had revenue of $13.04 billion during the quarter, compared to analyst estimates of $12.13 billion. During the same period in the previous year, the business posted $3.26 earnings per share. The business's revenue for the quarter was up 8.9% on a year-over-year basis. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Equities 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. Stockholders of record on Friday, October 10th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics's payout ratio is 40.27%.

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.