Professional Advisory Services Inc. Has $21.52 Million Stake in General Dynamics Corporation $GD

Key Points

• Professional Advisory Services Inc. reduced its holdings in General Dynamics Corporation by 10.0%, owning 73,773 shares worth approximately $21.5 million after selling 8,156 shares.
• General Dynamics has received multiple price target upgrades from analysts, with a consensus target price of $315.78 and a majority of analysts rating it as a Hold.
• The company announced a quarterly dividend of $1.50, translating to an annualized yield of 1.9%, which will be paid out on November 14th, 2023.

Professional Advisory Services Inc. reduced its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 10.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,773 shares of the aerospace company's stock after selling 8,156 shares during the quarter. General Dynamics comprises about 2.9% of Professional Advisory Services Inc.'s investment portfolio, making the stock its 14th biggest position. Professional Advisory Services Inc.'s holdings in General Dynamics were worth $21,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. lifted its holdings in General Dynamics by 3.5% during the second quarter. Pinnacle Bancorp Inc. now owns 2,348 shares of the aerospace company's stock worth $685,000 after buying an additional 80 shares during the period. Eagle Bay Advisors LLC lifted its position in General Dynamics by 6.4% during the 2nd quarter. Eagle Bay Advisors LLC now owns 951 shares of the aerospace company's stock worth $277,000 after acquiring an additional 57 shares during the period. Lantz Financial LLC purchased a new position in shares of General Dynamics during the 2nd quarter valued at about $213,000. Brendel Financial Advisors LLC purchased a new position in shares of General Dynamics during the 2nd quarter valued at about $3,384,000. Finally, Diversified Trust Co grew its position in shares of General Dynamics by 69.4% during the 2nd quarter. Diversified Trust Co now owns 7,323 shares of the aerospace company's stock valued at $2,136,000 after acquiring an additional 3,001 shares during the period. 86.14% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other General Dynamics news, EVP Marguerite Amy Gilliland sold 33,740 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $315.20, for a total value of $10,634,848.00. Following the sale, the executive vice president owned 45,192 shares of the company's stock, valued at $14,244,518.40. This trade represents a 42.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark Lagrand Burns sold 43,860 shares of General Dynamics 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 sale, 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 position. The disclosure for this sale can be found here. Insiders sold 275,020 shares of company stock worth $86,414,503 in the last three months. 1.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. UBS Group boosted their target price on General Dynamics from $309.00 to $333.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Wolfe Research upgraded shares of General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 target price for the company in a research note on Thursday, July 24th. Cowen restated a "buy" rating on shares of General Dynamics in a research note on Wednesday, June 25th. TD Cowen upped their target price on shares of General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Finally, Sanford C. Bernstein set a $314.00 price objective on shares of General Dynamics and gave the company a "market perform" rating in a research report on Monday, July 14th. Nine equities research 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 data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $315.78.

General Dynamics Stock Down 0.3%

Shares of General Dynamics stock traded down $1.04 during trading on Monday, reaching $323.05. The company had a trading volume of 1,354,933 shares, compared to its average volume of 1,384,381. The company has a market cap of $86.90 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 1.99 and a beta of 0.50. The firm's fifty day moving average is $316.37 and its 200-day moving average is $289.85. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $330.18.

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

General Dynamics Dividend Announcement

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