Procyon Advisors LLC Sells 1,889 Shares of General Dynamics Corporation $GD

Key Points

• Procyon Advisors LLC sold 1,889 shares of General Dynamics Corporation, reducing its holdings by 24.4% to a total of 5,855 shares, valued at approximately $1.71 million.
• General Dynamics reported $3.74 earnings per share (EPS) for the last quarter, exceeding analysts' expectations, with revenue of $13.04 billion.
• The company declared a quarterly dividend of $1.50 per share, which will be paid on November 14th, reflecting a 1.8% dividend yield.

Procyon Advisors LLC lessened its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 24.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,855 shares of the aerospace company's stock after selling 1,889 shares during the period. Procyon Advisors LLC's holdings in General Dynamics were worth $1,708,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GD. Rialto Wealth Management LLC grew its position in General Dynamics by 213.8% in the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock worth $25,000 after purchasing an additional 62 shares during the last quarter. Inlight Wealth Management LLC bought a new position in General Dynamics in the 1st quarter worth about $26,000. Smallwood Wealth Investment Management LLC bought a new position in General Dynamics in the 1st quarter worth about $27,000. Copia Wealth Management bought a new position in General Dynamics in the 4th quarter worth about $27,000. Finally, Heck Capital Advisors LLC bought a new position in General Dynamics in the 4th quarter worth about $28,000. Institutional investors own 86.14% of the company's stock.

Insider Buying and Selling

In other General Dynamics news, Director Mark Malcolm sold 3,220 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $329.45, for a total value of $1,060,829.00. Following the completion of the sale, the director owned 10,186 shares in the company, valued at $3,355,777.70. This represents a 24.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher J. Brady sold 8,150 shares of the stock in a transaction that occurred on 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 sale, the vice president owned 22,818 shares of the company's stock, valued at approximately $7,328,685.24. The trade was a 26.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 275,020 shares of company stock worth $86,414,503. Insiders own 1.50% of the company's stock.

General Dynamics Trading Down 0.2%

Shares of NYSE:GD traded down $0.59 during mid-day trading on Thursday, hitting $324.69. The stock had a trading volume of 1,096,198 shares, compared to its average volume of 807,932. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. The company has a market cap of $87.34 billion, a PE ratio of 21.79, a P/E/G ratio of 2.00 and a beta of 0.50. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $330.18. The company's 50 day moving average is $315.93 and its 200-day moving average is $288.99.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, beating the consensus estimate of $3.47 by $0.27. The business had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The firm's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. On average, sell-side analysts predict that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

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

Wall Street Analyst Weigh In

GD has been the subject of several recent analyst reports. UBS Group increased their price objective 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. Jefferies Financial Group set a $325.00 target price on shares of General Dynamics and gave the company a "hold" rating in a research note on Wednesday, July 9th. Barclays increased their target price on shares of General Dynamics from $285.00 to $350.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. TD Cowen increased their target price on shares of General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Finally, JPMorgan Chase & Co. increased their target price on shares of General Dynamics from $284.00 to $345.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Nine analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, General Dynamics has an average rating of "Hold" and a consensus price target 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.