General Dynamics Corporation $GD Shares Sold by Summit Financial LLC

Key Points

• Summit Financial LLC reduced its stake in General Dynamics Corporation by 29.7%, holding 4,017 shares worth approximately $1.1 million after selling 1,699 shares in the first quarter.
• A significant investment from GAMMA Investing LLC increased its position in General Dynamics by 34,578.2%, now owning 1,244,600 shares valued at around $339.3 million.
• The company announced a quarterly dividend of $1.50 per share, reflecting an annualized dividend yield of 1.9%, with an ex-dividend date set for October 10th.

Summit Financial LLC lowered its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 29.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,017 shares of the aerospace company's stock after selling 1,699 shares during the quarter. Summit Financial LLC's holdings in General Dynamics were worth $1,095,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GD. Brighton Jones LLC boosted its stake in 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 buying an additional 417 shares during the last quarter. Jump Financial LLC bought a new stake in shares of General Dynamics in the 4th quarter valued at approximately $209,000. Integrated Wealth Concepts LLC lifted its stake in shares of General Dynamics by 0.9% in the 4th quarter. Integrated Wealth Concepts LLC now owns 9,564 shares of the aerospace company's stock valued at $2,520,000 after purchasing an additional 83 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of General Dynamics by 1.1% in the 4th quarter. Voya Investment Management LLC now owns 93,845 shares of the aerospace company's stock valued at $24,727,000 after purchasing an additional 1,037 shares during the last quarter. Finally, Nebula Research & Development LLC bought a new stake in shares of General Dynamics in the 4th quarter valued at approximately $1,329,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Trading Down 0.2%

GD traded down $0.52 during trading on Thursday, hitting $324.94. 403,713 shares of the stock were exchanged, compared to its average volume of 1,417,933. The firm has a 50 day simple moving average of $305.13 and a 200 day simple moving average of $280.58. The firm has a market cap of $87.40 billion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 1.98 and a beta of 0.48. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $326.03. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, topping the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. As a group, equities analysts expect that General Dynamics Corporation will post 14.83 EPS 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 issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, October 10th. General Dynamics's dividend payout ratio (DPR) is presently 40.27%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GD shares. 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. Jefferies Financial Group set a $325.00 price objective on General Dynamics and gave the company a "hold" rating in a research note on Wednesday, July 9th. Sanford C. Bernstein set a $314.00 price objective on General Dynamics and gave the company a "market perform" rating in a research note on Monday, July 14th. Deutsche Bank Aktiengesellschaft upgraded General Dynamics from a "hold" rating to a "buy" rating and increased their price target for the stock from $298.00 to $342.00 in a report on Tuesday, July 8th. Finally, Susquehanna increased their price target on General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Nine analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $315.78.

Insider Activity at General Dynamics

In other news, VP William A. Moss sold 17,700 shares of General Dynamics stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $316.40, for a total value of $5,600,280.00. Following the transaction, the vice president directly owned 16,627 shares in the company, valued at approximately $5,260,782.80. This trade represents a 51.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of General Dynamics stock in a transaction on 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 transaction, the executive vice president owned 45,192 shares in the company, valued at $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. Insiders sold a total of 458,260 shares of company stock worth $138,125,545 over the last three months. Corporate insiders own 1.50% of the company's stock.

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.