Summit Wealth Group LLC Co. Reduces Holdings in General Dynamics Corporation $GD

Key Points

• Summit Wealth Group cut its General Dynamics position by 65.6% in the fourth quarter, selling 3,317 shares and leaving it with 1,736 shares worth about $584,000.
• General Dynamics reported strong quarterly results, with EPS of $4.10 beating estimates and revenue of $13.48 billion topping forecasts, while revenue rose 10.3% year over year.
• The company also raised its quarterly dividend to $1.59 per share from $1.50, bringing the annualized payout to $6.36 and a yield of about 1.9%.

Summit Wealth Group LLC Co. lowered its position in General Dynamics Corporation (NYSE:GD - Free Report) by 65.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,736 shares of the aerospace company's stock after selling 3,317 shares during the period. Summit Wealth Group LLC Co.'s holdings in General Dynamics were worth $584,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of GD. WASHINGTON TRUST Co lifted its holdings in General Dynamics by 453.3% in the third quarter. WASHINGTON TRUST Co now owns 9,418 shares of the aerospace company's stock valued at $3,212,000 after acquiring an additional 7,716 shares during the period. Rockland Trust Co. lifted its holdings in General Dynamics by 703.4% in the third quarter. Rockland Trust Co. now owns 10,548 shares of the aerospace company's stock valued at $3,597,000 after acquiring an additional 9,235 shares during the period. Envestnet Asset Management Inc. lifted its holdings in General Dynamics by 3.6% in the third quarter. Envestnet Asset Management Inc. now owns 917,424 shares of the aerospace company's stock valued at $312,842,000 after acquiring an additional 32,262 shares during the period. Gold Investment Management Ltd. raised its stake in shares of General Dynamics by 73.5% during the 3rd quarter. Gold Investment Management Ltd. now owns 10,700 shares of the aerospace company's stock worth $3,649,000 after buying an additional 4,532 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of General Dynamics by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company's stock worth $8,338,169,000 after buying an additional 528,769 shares during the period. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Stock Down 1.5%

Shares of GD opened at $341.31 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. General Dynamics Corporation has a one year low of $267.39 and a one year high of $369.70. The stock has a market capitalization of $92.30 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 2.15 and a beta of 0.34. The stock has a 50 day moving average price of $344.70 and a 200 day moving average price of $346.83.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, topping the consensus estimate of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The firm had revenue of $13.48 billion during the quarter, compared to analysts' expectations of $12.70 billion. During the same period in the previous year, the business earned $3.66 earnings per share. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. Equities research analysts forecast that General Dynamics Corporation will post 16.62 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 10th were given a dividend of $1.59 per share. The ex-dividend date was Friday, April 10th. This is a positive change from General Dynamics's previous quarterly dividend of $1.50. This represents a $6.36 annualized dividend and a dividend yield of 1.9%. General Dynamics's dividend payout ratio (DPR) is presently 40.03%.

Key Stories Impacting General Dynamics

Here are the key news stories impacting General Dynamics this week:

• Positive Sentiment: General Dynamics Information Technology (GDIT) announced a new partnership with NightDragon to accelerate U.S. government adoption of emerging AI and cybersecurity technologies, which could support future federal contract growth and reinforce the company’s positioning in secure-tech markets. Article Title
• Neutral Sentiment: Two separate filings showed EVP Mark Lagrand Burns sold a combined 72,710 shares on May 11 and May 12 at prices around $343 to $345 per share. Insider selling can weigh on sentiment, but the trades do not necessarily indicate a change in the company’s fundamentals. Article Title
• Negative Sentiment: Market commentary around the GDIT-NightDragon deal noted that General Dynamics shares fell after the announcement, suggesting investors may be treating the news as incremental rather than a near-term catalyst. Article Title

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GD. Bank of America reaffirmed a "buy" rating and set a $400.00 target price on shares of General Dynamics in a research note on Friday, January 30th. JPMorgan Chase & Co. upped their target price on General Dynamics from $385.00 to $400.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reduced their target price on General Dynamics from $387.00 to $377.00 and set a "hold" rating for the company in a research note on Wednesday, May 6th. Wall Street Zen raised General Dynamics from a "buy" rating to a "strong-buy" rating in a research note on Sunday. Finally, Susquehanna reaffirmed a "positive" rating and set a $420.00 target price on shares of General Dynamics in a research note on Thursday, January 15th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $388.20.

Insider Transactions at General Dynamics

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of the company's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total value of $12,596,179.20. Following the completion of the sale, the executive vice president directly owned 38,975 shares in the company, valued at $13,457,677.75. This represents a 48.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Phebe N. Novakovic sold 32,918 shares of the company's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $354.09, for a total value of $11,655,934.62. Following the completion of the sale, the chief executive officer owned 766,457 shares of the company's stock, valued at approximately $271,394,759.13. The trade was a 4.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 123,970 shares of company stock valued at $43,174,793 over the last ninety days. Company 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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