Thoroughbred Financial Services LLC Sells 2,855 Shares of General Dynamics Corporation $GD

Thoroughbred Financial Services LLC lowered its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 32.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,017 shares of the aerospace company's stock after selling 2,855 shares during the period. Thoroughbred Financial Services LLC's holdings in General Dynamics were worth $2,131,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. boosted its stake in General Dynamics by 16.7% in the 2nd quarter. Keating Financial Advisory Services Inc. now owns 217 shares of the aerospace company's stock valued at $77,000 after purchasing an additional 31 shares during the period. OneAscent Family Office LLC bought a new position in General Dynamics during the 2nd quarter worth $222,000. Oxford Financial Group LTD. LLC lifted its holdings in shares of General Dynamics by 1.9% during the second quarter. Oxford Financial Group LTD. LLC now owns 1,426 shares of the aerospace company's stock worth $505,000 after buying an additional 26 shares in the last quarter. Vise Technologies Inc. grew its stake in shares of General Dynamics by 66.2% in the second quarter. Vise Technologies Inc. now owns 21,368 shares of the aerospace company's stock valued at $7,569,000 after acquiring an additional 8,508 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in General Dynamics in the 2nd quarter worth about $778,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. BNP Paribas Exane increased their target price on shares of General Dynamics from $390.00 to $430.00 and gave the stock an "outperform" rating in a research report on Thursday, July 30th. Morgan Stanley lifted their price target on shares of General Dynamics from $435.00 to $465.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. Robert W. Baird set a $430.00 price target on General Dynamics in a research report on Thursday, July 30th. Wall Street Zen lowered General Dynamics from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, General Dynamics has an average rating of "Moderate Buy" and an average target price of $410.89.

General Dynamics Trading Down 0.4%

Shares of General Dynamics stock opened at $384.50 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.44 and a debt-to-equity ratio of 0.23. General Dynamics Corporation has a 12-month low of $306.77 and a 12-month high of $400.00. The company has a market capitalization of $104.03 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 2.23 and a beta of 0.33. The firm's 50-day moving average price is $374.15 and its two-hundred day moving average price is $355.82.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, July 29th. The aerospace company reported $4.24 EPS for the quarter, beating 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 analysts' expectations of $13.52 billion. During the same period in the previous year, the company earned $3.74 EPS. The business's revenue for the quarter was up 8.1% compared to the same quarter last year. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. On average, 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 announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 9th will be paid a dividend of $1.59 per share. The ex-dividend date is Friday, October 9th. This represents a $6.36 annualized dividend and a yield of 1.7%. General Dynamics's dividend payout ratio is presently 38.80%.

Insider Buying and Selling at General Dynamics

In other news, 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 transaction of $19,728,885.44. Following the completion of the transaction, the chief executive officer owned 766,457 shares of the company's stock, valued at approximately $293,231,119.06. The trade was a 6.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Malcolm sold 5,480 shares of the firm's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total value of $2,000,200.00. Following the completion of the sale, the director directly owned 10,643 shares in the company, valued at $3,884,695. This trade represents a 33.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 100,228 shares of company stock valued at $38,052,853. 1.40% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Corporation (NYSE:GD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source