Sit Investment Associates Inc. Has $2.87 Million Stock Position in General Dynamics Corporation $GD

Key Points

• Sit Investment Associates Inc. reduced its stake in General Dynamics by 45.6%, selling 8,835 shares and bringing its total holdings to 10,537 shares valued at approximately $2.87 million.
• Multiple analysts have raised their price targets for General Dynamics, with Citigroup setting a target of $368.00 and suggesting a "buy" rating, while the company's consensus rating remains "Hold."
• Insider trading reports indicate significant sales of General Dynamics stock, including a sale of 178,821 shares by CEO Phebe N. Novakovic, which marked an 18.85% decrease in her position.

Sit Investment Associates Inc. reduced its position in General Dynamics Corporation (NYSE:GD - Free Report) by 45.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,537 shares of the aerospace company's stock after selling 8,835 shares during the quarter. Sit Investment Associates Inc.'s holdings in General Dynamics were worth $2,872,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Retirement Guys Formula LLC purchased a new position in shares of General Dynamics in the 1st quarter valued at approximately $1,692,000. Advisory Resource Group boosted its holdings in shares of General Dynamics by 7.1% during the first quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company's stock worth $5,234,000 after purchasing an additional 1,276 shares during the last quarter. Mission Wealth Management LP boosted its position in shares of General Dynamics by 18.9% in the first quarter. Mission Wealth Management LP now owns 16,144 shares of the aerospace company's stock worth $4,401,000 after acquiring an additional 2,568 shares during the last quarter. Matrix Asset Advisors Inc. NY increased its holdings in shares of General Dynamics by 31.6% during the 1st quarter. Matrix Asset Advisors Inc. NY now owns 33,644 shares of the aerospace company's stock worth $9,171,000 after buying an additional 8,073 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. raised its position in shares of General Dynamics by 11.5% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 16,522 shares of the aerospace company's stock worth $4,504,000 after buying an additional 1,704 shares during the period. Hedge funds and other institutional investors own 86.14% of the company's stock.

Insider Transactions at General Dynamics

In other General Dynamics news, Director Leon Rudy F. De sold 5,490 shares of General Dynamics stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $312.81, for a total value of $1,717,326.90. Following the completion of the sale, the director directly owned 5,483 shares in the company, valued at $1,715,137.23. The trade was a 50.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $315.20, for a total value of $10,634,848.00. Following the completion of the sale, the executive vice president directly owned 45,192 shares in the company, valued at approximately $14,244,518.40. This represents a 42.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 448,900 shares of company stock worth $135,121,890. 1.50% of the stock is currently owned by insiders.

General Dynamics Stock Performance

NYSE:GD traded down $1.0950 during mid-day trading on Thursday, reaching $316.3850. The stock had a trading volume of 174,662 shares, compared to its average volume of 1,434,490. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $322.50. 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 firm has a market capitalization of $85.10 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 1.94 and a beta of 0.48. The business has a 50 day simple moving average of $301.09 and a 200 day simple moving average of $278.37.

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, topping 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%.General Dynamics's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period 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. On average, analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. General Dynamics's dividend payout ratio is currently 40.27%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GD. Citigroup raised their price objective on General Dynamics from $348.00 to $368.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Sanford C. Bernstein set a $314.00 target price on General Dynamics and gave the stock a "market perform" rating in a research report on Monday, July 14th. TD Cowen lifted their price target on General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Susquehanna upped their price objective on General Dynamics from $315.00 to $365.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Finally, Barclays increased their target price on General Dynamics from $285.00 to $350.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Nine research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $315.78.

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.