Price T Rowe Associates Inc. MD Reduces Stock Position in General Dynamics Corporation $GD

Key Points

• Price T Rowe Associates Inc. MD significantly decreased its stake in General Dynamics by 89.4%, reducing its holdings to 380,781 shares after selling over 3.2 million shares in the first quarter.
• General Dynamics' recent quarterly earnings exceeded analysts' expectations, reporting $3.74 EPS and revenues of $13.04 billion, marking an 8.9% increase year-over-year.
• The company has announced a $1.50 quarterly dividend, equating to an annual yield of 1.9%, with the ex-dividend date set for October 10th.

Price T Rowe Associates Inc. MD lowered its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 89.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 380,781 shares of the aerospace company's stock after selling 3,205,377 shares during the period. Price T Rowe Associates Inc. MD owned about 0.14% of General Dynamics worth $103,794,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GD. Brighton Jones LLC boosted its position in General Dynamics by 16.9% during the 4th quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company's stock valued at $760,000 after buying an additional 417 shares during the period. Jump Financial LLC purchased a new stake in shares of General Dynamics in the 4th quarter worth about $209,000. Integrated Wealth Concepts LLC lifted its position in shares of General Dynamics by 0.9% in the 4th quarter. Integrated Wealth Concepts LLC now owns 9,564 shares of the aerospace company's stock worth $2,520,000 after purchasing an additional 83 shares during the period. Coldstream Capital Management Inc. lifted its position in shares of General Dynamics by 6.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 7,315 shares of the aerospace company's stock worth $1,927,000 after purchasing an additional 450 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of General Dynamics in the 4th quarter worth about $266,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, EVP Mark Lagrand Burns sold 43,860 shares of the firm's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the completion of the sale, the executive vice president directly owned 39,875 shares in the company, valued at approximately $12,452,165. This trade represents a 52.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William A. Moss sold 17,700 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $316.40, for a total transaction of $5,600,280.00. Following the sale, the vice president owned 16,627 shares of the company's stock, valued at approximately $5,260,782.80. This represents a 51.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 448,900 shares of company stock worth $135,121,890 in the last 90 days. Insiders own 1.50% of the company's stock.

Analyst Ratings Changes

GD has been the subject of several research analyst reports. Argus set a $295.00 target price on shares of General Dynamics in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft raised shares of General Dynamics from a "hold" rating to a "buy" rating and raised their target price for the stock from $298.00 to $342.00 in a research report on Tuesday, July 8th. Barclays raised their target price on shares of General Dynamics from $285.00 to $350.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. increased their price target 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. Finally, Robert W. Baird increased their price target 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. Nine analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $315.78.

General Dynamics Stock Up 0.1%

Shares of General Dynamics stock opened at $319.9060 on Tuesday. The firm has a market cap of $86.05 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 1.96 and a beta of 0.48. 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 1 year low of $239.20 and a 1 year high of $322.50. The company has a 50-day moving average of $303.37 and a 200 day moving average of $279.98.

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 business had revenue of $13.04 billion during the quarter, compared to analyst estimates of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. General Dynamics's revenue was up 8.9% compared to the same quarter last year. During the same period last year, the business earned $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. As a group, sell-side analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, October 10th. General Dynamics's dividend payout ratio (DPR) is currently 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.

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