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

Key Points

• MetLife Investment Management LLC reduced its stake in General Dynamics Corporation (NYSE:GD) by 3.4%, selling 2,312 shares, and now holds 66,254 shares valued at approximately $18.06 million.
• General Dynamics reported a strong quarterly performance with $3.74 EPS exceeding estimates, and a revenue of $13.04 billion, which was 8.9% higher year-over-year.
• The company has announced a quarterly dividend of $1.50 per share, representing a yield of 1.9%, with the payment date set for November 14th.

MetLife Investment Management LLC trimmed its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 3.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,254 shares of the aerospace company's stock after selling 2,312 shares during the quarter. MetLife Investment Management LLC's holdings in General Dynamics were worth $18,060,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rialto Wealth Management LLC boosted its holdings in General Dynamics by 213.8% during the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after acquiring an additional 62 shares during the period. Inlight Wealth Management LLC purchased a new position in General Dynamics during the 1st quarter valued at about $26,000. Copia Wealth Management purchased a new position in General Dynamics during the 4th quarter valued at about $27,000. Smallwood Wealth Investment Management LLC purchased a new position in General Dynamics during the 1st quarter valued at about $27,000. Finally, Heck Capital Advisors LLC purchased a new position in General Dynamics during the 4th quarter valued at about $28,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded General Dynamics from a "hold" rating to a "buy" rating and raised their target price for the company from $298.00 to $342.00 in a report on Tuesday, July 8th. Susquehanna raised their target price on General Dynamics from $315.00 to $365.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Barclays lifted their price objective on General Dynamics from $285.00 to $350.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Cowen reiterated a "buy" rating on shares of General Dynamics in a research note on Wednesday, June 25th. Finally, Sanford C. Bernstein set a $314.00 price objective on General Dynamics and gave the company a "market perform" rating in a research note on Monday, July 14th. Nine investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $315.78.

General Dynamics Stock Down 0.1%

Shares of NYSE GD traded down $0.27 during midday trading on Friday, hitting $324.64. 670,140 shares of the company's stock were exchanged, compared to its average volume of 888,420. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $326.02. The company has a market cap of $87.33 billion, a PE ratio of 21.79, a P/E/G ratio of 1.99 and a beta of 0.48. The firm's fifty day simple moving average is $306.98 and its 200-day simple moving average is $281.52.

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 for the quarter, topping the consensus estimate of $3.47 by $0.27. The business 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 quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company earned $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Research analysts predict that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 annualized dividend and a yield of 1.8%. General Dynamics's payout ratio is 40.27%.

Insider Activity at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of General Dynamics stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the transaction, the chief executive officer owned 769,607 shares of the company's stock, valued at $217,898,829.91. The trade was a 18.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP William A. Moss sold 17,700 shares of General Dynamics stock in a transaction that occurred 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 approximately $5,260,782.80. This trade represents a 51.56% decrease in their position. 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 over the last 90 days. 1.50% of the stock is owned by insiders.

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.