Prudential PLC Reduces Holdings in General Dynamics Corporation $GD

Key Points

• Prudential PLC has reduced its holdings in General Dynamics Corporation by 39.8%, selling 7,400 shares and holding 11,176 shares worth $3,046,000 as of the latest filing.
• General Dynamics recently reported a quarterly earnings per share of $3.74, exceeding expectations and reflecting an 8.9% increase in revenue year-over-year.
• The company declared a quarterly dividend of $1.50 per share, representing an annualized dividend of $6.00, with a dividend yield of 1.9%.

Prudential PLC reduced its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 39.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 11,176 shares of the aerospace company's stock after selling 7,400 shares during the quarter. Prudential PLC's holdings in General Dynamics were worth $3,046,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Resona Asset Management Co. Ltd. lifted its position in General Dynamics by 9.8% during the first quarter. Resona Asset Management Co. Ltd. now owns 85,556 shares of the aerospace company's stock valued at $23,257,000 after purchasing an additional 7,613 shares during the last quarter. Rathbones Group PLC raised its position in shares of General Dynamics by 4.2% during the 1st quarter. Rathbones Group PLC now owns 2,166 shares of the aerospace company's stock valued at $590,000 after buying an additional 87 shares in the last quarter. Tlwm raised its position in shares of General Dynamics by 4.8% during the 1st quarter. Tlwm now owns 4,145 shares of the aerospace company's stock valued at $1,130,000 after buying an additional 189 shares in the last quarter. Rossmore Private Capital grew its position in General Dynamics by 0.9% in the first quarter. Rossmore Private Capital now owns 10,678 shares of the aerospace company's stock worth $2,910,000 after acquiring an additional 91 shares in the last quarter. Finally, Stone House Investment Management LLC bought a new stake in General Dynamics during the first quarter worth approximately $121,000. Institutional investors own 86.14% of the company's stock.

Insider Activity at General Dynamics

In other news, EVP Mark Lagrand Burns sold 43,860 shares of General Dynamics stock in a transaction on 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 of the company's stock, valued at approximately $12,452,165. The trade was a 52.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the firm's stock in a transaction dated 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 directly owned 45,192 shares in the company, valued at $14,244,518.40. This trade represents a 42.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 319,810 shares of company stock valued at $94,643,139 over the last ninety days. 1.50% of the stock is owned by insiders.

General Dynamics Trading Up 0.7%

Shares of GD stock traded up $2.0490 during trading on Tuesday, hitting $315.6290. 156,747 shares of the stock traded hands, compared to its average volume of 1,442,783. The firm has a market capitalization of $84.90 billion, a P/E ratio of 21.19, a price-to-earnings-growth ratio of 1.92 and a beta of 0.48. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $322.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. The firm's fifty day moving average price is $299.48 and its 200-day moving average price is $277.83.

General Dynamics (NYSE:GD - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 EPS 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 revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter 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. As a group, research analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company 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 of this dividend is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. General Dynamics's payout ratio is presently 40.27%.

Analyst Ratings Changes

A number of research analysts have recently commented on GD shares. Sanford C. Bernstein set a $314.00 price target on shares of General Dynamics and gave the stock a "market perform" rating in a report on Monday, July 14th. Robert W. Baird upped their target price on General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Argus set a $295.00 price target on General Dynamics in a research report on Tuesday, May 6th. Citigroup raised their price target on shares of General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Morgan Stanley cut their target price on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Nine analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price 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.