Royal London Asset Management Ltd. Sells 2,903 Shares of General Dynamics Corporation $GD

Key Points

• Royal London Asset Management reduced its General Dynamics position by 3.1%, selling 2,903 shares and retaining 91,845 shares valued at approximately $32.5 million. Institutional investors and hedge funds own 86.14% of the company.
• General Dynamics reported quarterly earnings of $4.24 per share, beating estimates of $3.96, while revenue rose 8.1% year over year to $14.09 billion. The company declared a quarterly dividend of $1.59 per share, representing a 1.7% annualized yield.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $410.89 versus the stock’s recent price of $379.70. Several firms raised their targets, with the highest reaching $455.

Royal London Asset Management Ltd. lessened its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,845 shares of the aerospace company's stock after selling 2,903 shares during the quarter. Royal London Asset Management Ltd.'s holdings in General Dynamics were worth $32,535,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of GD. BlackRock Inc. bought a new stake in General Dynamics in the 2nd quarter valued at $6,840,590,000. State Street Corp lifted its holdings in shares of General Dynamics by 2.7% during the 4th quarter. State Street Corp now owns 11,323,170 shares of the aerospace company's stock worth $3,812,058,000 after acquiring an additional 294,456 shares during the period. Bank of America Corp DE acquired a new stake in shares of General Dynamics during the 2nd quarter valued at about $2,603,527,000. Geode Capital Management LLC boosted its position in shares of General Dynamics by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 6,065,462 shares of the aerospace company's stock valued at $2,039,742,000 after acquiring an additional 195,604 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in General Dynamics by 2.2% in the fourth quarter. JPMorgan Chase & Co. now owns 5,307,389 shares of the aerospace company's stock valued at $1,786,786,000 after acquiring an additional 114,647 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Trading Down 0.1%

Shares of GD stock opened at $379.70 on Friday. The company has a market capitalization of $102.73 billion, a P/E ratio of 23.17, a P/E/G ratio of 2.19 and a beta of 0.33. General Dynamics Corporation has a 12-month low of $306.77 and a 12-month high of $400.00. The company has a quick ratio of 0.96, a current ratio of 1.44 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $376.45 and a 200 day moving average price of $356.76.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The aerospace company reported $4.24 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.28. General Dynamics had a net margin of 8.18% and a return on equity of 17.43%. The company had revenue of $14.09 billion during the quarter, compared to analyst estimates of $13.52 billion. During the same quarter last year, the business posted $3.74 earnings per share. The company's revenue was up 8.1% on a year-over-year basis. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. Research analysts forecast that General Dynamics Corporation will post 16.97 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 9th will be issued a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 9th. General Dynamics's dividend payout ratio (DPR) is currently 38.80%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Citigroup increased their price target on shares of General Dynamics from $364.00 to $404.00 and gave the stock a "neutral" rating in a research report on Thursday, July 30th. TD Cowen lifted their price objective on General Dynamics from $390.00 to $420.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Bank of America increased their target price on General Dynamics from $400.00 to $415.00 and gave the stock a "buy" rating in a report on Monday, July 6th. BNP Paribas Exane raised their target price on General Dynamics from $390.00 to $430.00 and gave the stock an "outperform" rating in a research report on Thursday, July 30th. Finally, Susquehanna boosted their price target on General Dynamics from $420.00 to $455.00 and gave the company a "positive" rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, General Dynamics has a consensus rating of "Moderate Buy" and a consensus price target of $410.89.

Insider Activity at General Dynamics

In other General Dynamics news, Director Mark Malcolm sold 5,480 shares of General Dynamics stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total value of $2,000,200.00. Following the completion of the transaction, the director owned 10,643 shares in the company, valued at approximately $3,884,695. The trade was a 33.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Phebe N. Novakovic sold 51,568 shares of the business's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $382.58, for a total value of $19,728,885.44. Following the completion of the transaction, the chief executive officer directly owned 766,457 shares in the company, valued at approximately $293,231,119.06. This represents a 6.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 100,228 shares of company stock valued at $38,052,853 in the last three months. Corporate insiders own 1.40% of the company's stock.

General Dynamics Company Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.

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