Shell Asset Management Co. Acquires 2,795 Shares of General Dynamics Corporation $GD

Key Points

• Shell Asset Management Co. increased its stake in General Dynamics by 70.1%, acquiring an additional 2,795 shares, bringing its total holdings to 6,781 shares valued at approximately $1.98 million.
• Insider transactions included the sale of 43,860 shares by EVP Mark Lagrand Burns, representing a 52.38% decrease in ownership, amid a broader trend with insiders selling a total of 275,020 shares worth over $86 million in recent months.
• General Dynamics' third-quarter earnings surpassed estimates, reporting $3.74 EPS and revenue of $13.04 billion, leading analysts to raise their target prices and maintain a consensus rating of "Hold" with an average target of $319.

Shell Asset Management Co. lifted its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 70.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,781 shares of the aerospace company's stock after acquiring an additional 2,795 shares during the quarter. Shell Asset Management Co.'s holdings in General Dynamics were worth $1,978,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GD. Brighton Jones LLC raised its holdings in shares of General Dynamics by 16.9% during the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company's stock valued at $760,000 after acquiring an additional 417 shares in the last quarter. Miracle Mile Advisors LLC raised its holdings in shares of General Dynamics by 3.7% during the first quarter. Miracle Mile Advisors LLC now owns 2,605 shares of the aerospace company's stock valued at $710,000 after acquiring an additional 92 shares in the last quarter. First Citizens Bank & Trust Co. bought a new position in shares of General Dynamics during the first quarter valued at approximately $216,000. Pallas Capital Advisors LLC bought a new position in shares of General Dynamics during the first quarter valued at approximately $267,000. Finally, Wealthcare Advisory Partners LLC raised its holdings in General Dynamics by 5.6% in the first quarter. Wealthcare Advisory Partners LLC now owns 2,523 shares of the aerospace company's stock worth $688,000 after purchasing an additional 133 shares in the last quarter. Institutional investors own 86.14% of the company's stock.

Insiders Place Their Bets

In other General Dynamics news, EVP Mark Lagrand Burns sold 43,860 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president directly owned 39,875 shares of the company's stock, valued at approximately $12,452,165. This trade represents a 52.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Christopher J. Brady sold 8,150 shares of General Dynamics stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $321.18, for a total value of $2,617,617.00. Following the transaction, the vice president directly owned 22,818 shares in the company, valued at approximately $7,328,685.24. The trade was a 26.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 275,020 shares of company stock valued at $86,414,503. 1.50% of the stock is currently owned by company insiders.

General Dynamics Trading Up 0.9%

Shares of NYSE:GD opened at $346.45 on Thursday. The stock has a market capitalization of $93.19 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 2.10 and a beta of 0.47. 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 stock's 50-day simple moving average is $323.85 and its two-hundred day simple moving average is $295.77. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $347.37.

General Dynamics (NYSE:GD - Get Free Report) last announced its 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 business had revenue of $13.04 billion for the quarter, compared to analysts' expectations of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The business's revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the firm posted $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Analysts expect that General Dynamics Corporation will post 14.83 EPS for the current 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. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics's dividend payout ratio (DPR) is presently 40.27%.

Analyst Ratings Changes

GD has been the topic of a number of research reports. Cowen restated a "buy" rating on shares of General Dynamics in a report on Wednesday, June 25th. Wolfe Research raised shares of General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 target price on the stock in a research report on Thursday, July 24th. TD Cowen upped their target price on shares of General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Barclays upped their target price on shares of General Dynamics from $285.00 to $350.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $319.00.

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.

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