General Dynamics Corporation $GD Shares Sold by NorthCrest Asset Manangement LLC

by · The Markets Daily

NorthCrest Asset Manangement LLC reduced its position in shares of General Dynamics Corporation (NYSE:GD – Free Report) by 0.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,131 shares of the aerospace company’s stock after selling 509 shares during the period. NorthCrest Asset Manangement LLC’s holdings in General Dynamics were worth $18,019,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in General Dynamics by 4.9% in the first quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company’s stock worth $1,499,819,000 after purchasing an additional 256,687 shares in the last quarter. Ameriprise Financial Inc. increased its stake in General Dynamics by 34.8% during the first quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company’s stock valued at $749,252,000 after purchasing an additional 709,782 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in General Dynamics by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,582,388 shares of the aerospace company’s stock valued at $431,327,000 after purchasing an additional 5,313 shares during the last quarter. Boston Partners increased its stake in General Dynamics by 7.9% during the first quarter. Boston Partners now owns 1,296,497 shares of the aerospace company’s stock valued at $353,558,000 after purchasing an additional 94,537 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in General Dynamics by 120.9% during the first quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company’s stock valued at $343,866,000 after purchasing an additional 690,349 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Christopher J. Brady sold 8,150 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $321.18, for a total transaction of $2,617,617.00. Following the completion of the transaction, the vice president directly owned 22,818 shares of the company’s stock, valued at $7,328,685.24. This trade represents a 26.32% decrease in their position. The sale 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 on Friday, August 8th. The shares were sold at an average price of $315.20, for a total transaction of $10,634,848.00. Following the completion of the transaction, the executive vice president directly owned 45,192 shares of the company’s stock, 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 275,020 shares of company stock worth $86,414,503 over the last quarter. Insiders own 1.50% of the company’s stock.

General Dynamics Stock Down 0.3%

GD opened at $325.47 on Thursday. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $330.18. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. The firm’s fifty day moving average price is $315.50 and its two-hundred day moving average price is $288.50. The company has a market capitalization of $87.55 billion, a P/E ratio of 21.84, a P/E/G ratio of 2.00 and a beta of 0.50.

General Dynamics (NYSE:GD – Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The firm had revenue of $13.04 billion for the quarter, compared to the consensus estimate of $12.13 billion. During the same quarter in the previous year, the company earned $3.26 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. On average, analysts anticipate that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. General Dynamics’s dividend payout ratio is 40.27%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Susquehanna increased their price objective on shares of General Dynamics from $315.00 to $365.00 and gave the stock a “positive” rating in a report on Thursday, July 24th. Barclays raised their target price on shares of General Dynamics from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Citigroup raised their target price on shares of General Dynamics from $348.00 to $368.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Wolfe Research upgraded shares of General Dynamics from a “peer perform” rating to an “outperform” rating and set a $360.00 target price for the company in a report on Thursday, July 24th. Finally, UBS Group raised their target price on shares of General Dynamics from $309.00 to $333.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Nine analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $315.78.

View Our Latest Stock Report on General Dynamics

General Dynamics Profile

(Free Report)

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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