Rafferty Asset Management LLC Sells 7,947 Shares of General Dynamics Corporation $GD

Key Points

• Rafferty Asset Management LLC reduced its holdings in General Dynamics Corporation by 16.7%, now owning 39,685 shares worth approximately $10.8 million.
• Several institutional investors increased their stakes in General Dynamics during the same period, with Ceredex Value Advisors acquiring a new stake valued at $30.1 million.
• General Dynamics recently announced a quarterly dividend of $1.50 per share, with a scheduled payment date of November 14th.

Rafferty Asset Management LLC lowered its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 16.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 39,685 shares of the aerospace company's stock after selling 7,947 shares during the period. Rafferty Asset Management LLC's holdings in General Dynamics were worth $10,817,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rialto Wealth Management LLC grew its holdings in shares of General Dynamics by 213.8% during the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after purchasing an additional 62 shares during the last quarter. Inlight Wealth Management LLC purchased a new stake in General Dynamics during the 1st quarter valued at $26,000. Copia Wealth Management purchased a new stake in General Dynamics during the 4th quarter valued at $27,000. Smallwood Wealth Investment Management LLC purchased a new stake in General Dynamics during the 1st quarter valued at $27,000. Finally, Heck Capital Advisors LLC purchased a new stake in General Dynamics during the 4th quarter valued at $28,000. Institutional investors own 86.14% of the company's stock.

Insider Buying and Selling at General Dynamics

In other news, Director Mark Malcolm sold 1,210 shares of General Dynamics stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $319.04, for a total value of $386,038.40. Following the completion of the sale, the director directly owned 10,186 shares in the company, valued at $3,249,741.44. The trade was a 10.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP William A. Moss sold 17,700 shares of General Dynamics stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $316.40, for a total transaction of $5,600,280.00. Following the completion of the sale, the vice president owned 16,627 shares of the company's stock, valued at $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 458,260 shares of company stock worth $138,125,545 in the last 90 days. Insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

GD has been the subject of several analyst reports. Wolfe Research raised shares of General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price target for the company in a research report on Thursday, July 24th. TD Cowen increased their price target on shares of General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. UBS Group increased their price target on shares of General Dynamics from $309.00 to $333.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Susquehanna raised their target price on shares of General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Finally, Sanford C. Bernstein set a $314.00 target price on shares of General Dynamics and gave the stock 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 given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $315.78.

General Dynamics Stock Down 0.1%

Shares of General Dynamics stock traded down $0.27 during trading on Monday, hitting $324.64. The company's stock had a trading volume of 670,140 shares, compared to its average volume of 877,372. 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 fifty day simple moving average of $306.98 and a two-hundred day simple moving average of $281.98. The company has a market capitalization of $87.33 billion, a PE ratio of 21.79, a P/E/G ratio of 1.99 and a beta of 0.50. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $326.02.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.27. The company 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 quarterly 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. Equities research analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current 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 1.8%. The ex-dividend date is Friday, October 10th. General Dynamics's dividend payout ratio (DPR) is currently 40.27%.

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.