Price T Rowe Associates Inc. MD Sells 3,205,377 Shares of General Dynamics Corporation $GD

Price T Rowe Associates Inc. MD cut its stake in General Dynamics Corporation (NYSE:GD) by 89.4% in the first quarter, HoldingsChannel.com reports. The fund owned 380,781 shares of the aerospace company’s stock after selling 3,205,377 shares during the period. Price T Rowe Associates Inc. MD’s holdings in General Dynamics were worth $103,794,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GD. Rialto Wealth Management LLC grew its stake in shares of General Dynamics by 213.8% in the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 62 shares during the period. Inlight Wealth Management LLC bought a new stake in shares of General Dynamics in the first quarter worth approximately $26,000. Copia Wealth Management bought a new stake in shares of General Dynamics in the fourth quarter worth approximately $27,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of General Dynamics in the first quarter worth approximately $27,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of General Dynamics in the fourth quarter worth approximately $28,000. 86.14% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP William A. Moss sold 17,700 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $316.40, for a total value of $5,600,280.00. Following the sale, the vice president owned 16,627 shares in the company, valued at approximately $5,260,782.80. The trade was a 51.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Lagrand Burns sold 43,860 shares of the business’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the completion of the sale, the executive vice president owned 39,875 shares in the company, valued at $12,452,165. This represents a 52.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 448,900 shares of company stock valued at $135,121,890. Company insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GD. JPMorgan Chase & Co. raised their price objective on shares of General Dynamics from $284.00 to $345.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Robert W. Baird raised their price objective on shares of General Dynamics from $283.00 to $350.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Barclays raised their price objective 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. Deutsche Bank Aktiengesellschaft raised shares of General Dynamics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $298.00 to $342.00 in a report on Tuesday, July 8th. Finally, Wolfe Research raised shares of General Dynamics from a “peer perform” rating to an “outperform” rating and set a $360.00 price objective on the stock in a report on Thursday, July 24th. Nine investment 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, General Dynamics currently has a consensus rating of “Hold” and an average target price of $315.78.

General Dynamics Price Performance

Shares of NYSE:GD opened at $319.9060 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $322.50. The company has a market capitalization of $86.05 billion, a P/E ratio of 21.47, a P/E/G ratio of 1.96 and a beta of 0.48. The firm’s 50 day simple moving average is $303.37 and its two-hundred day simple moving average is $279.98.

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

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, October 10th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. General Dynamics’s dividend payout ratio (DPR) is presently 40.27%.

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.