Park Avenue Securities LLC Sells 1,822 Shares of General Dynamics Corporation $GD

Key Points

• Park Avenue Securities LLC reduced its stake in General Dynamics by 15.6%, selling 1,822 shares and retaining 9,863 shares valued at approximately $2.88 million.
• General Dynamics recently announced a quarterly dividend of $1.50, which translates to an annual yield of 1.9%, with the payment date set for November 14th.
• Several analysts issued favorable ratings for General Dynamics, with TD Cowen and JPMorgan Chase revising their price targets up to $345, indicating strong market confidence.

Park Avenue Securities LLC cut its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 15.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,863 shares of the aerospace company's stock after selling 1,822 shares during the period. Park Avenue Securities LLC's holdings in General Dynamics were worth $2,877,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Sowell Financial Services LLC increased its stake in shares of General Dynamics by 3.5% in the second quarter. Sowell Financial Services LLC now owns 3,273 shares of the aerospace company's stock worth $955,000 after purchasing an additional 110 shares during the period. Congress Park Capital LLC bought a new position in shares of General Dynamics in the second quarter worth about $204,000. Mitchell & Pahl Private Wealth LLC increased its stake in shares of General Dynamics by 2.0% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 9,867 shares of the aerospace company's stock worth $2,878,000 after purchasing an additional 195 shares during the period. Silver Oak Securities Incorporated increased its stake in shares of General Dynamics by 6.0% in the second quarter. Silver Oak Securities Incorporated now owns 1,462 shares of the aerospace company's stock worth $426,000 after purchasing an additional 83 shares during the period. Finally, CX Institutional increased its stake in shares of General Dynamics by 3.5% in the second quarter. CX Institutional now owns 14,349 shares of the aerospace company's stock worth $4,185,000 after purchasing an additional 481 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented 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 research note on Monday, July 14th. TD Cowen boosted their price target on General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Deutsche Bank Aktiengesellschaft upgraded General Dynamics from a "hold" rating to a "buy" rating and boosted their price target for the company from $298.00 to $342.00 in a research note on Tuesday, July 8th. Cowen restated a "buy" rating on shares of General Dynamics in a research note on Wednesday, June 25th. Finally, JPMorgan Chase & Co. boosted their price target on General Dynamics from $284.00 to $345.00 and gave the company 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 has an average rating of "Hold" and an average price target of $315.78.

General Dynamics Stock Up 0.1%

NYSE GD opened at $322.85 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. The stock's 50 day moving average is $317.15 and its two-hundred day moving average is $290.44. The company has a market capitalization of $86.84 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 1.98 and a beta of 0.50. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $330.18.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $13.04 billion for the quarter, compared to the consensus estimate of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The company's quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Equities analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm 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 presently 40.27%.

Insiders Place Their Bets

In other news, CEO Phebe N. Novakovic sold 129,090 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $313.57, for a total value of $40,478,751.30. Following the transaction, the chief executive officer directly owned 769,607 shares of the company's stock, valued at $241,325,666.99. The trade was a 14.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Lagrand Burns sold 43,860 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $312.28, for a total value of $13,696,600.80. Following the completion of the transaction, the executive vice president directly owned 39,875 shares in the company, valued at $12,452,165. The trade was a 52.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 275,020 shares of company stock worth $86,414,503 over the last ninety 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.

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