Exchange Capital Management Inc. Sells 302 Shares of General Dynamics Corporation $GD

Exchange Capital Management Inc. reduced its holdings in shares of General Dynamics Corporation (NYSE:GD) by 2.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,528 shares of the aerospace company’s stock after selling 302 shares during the period. Exchange Capital Management Inc.’s holdings in General Dynamics were worth $3,070,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Abacus Planning Group Inc. raised its position in General Dynamics by 9.4% in the 2nd quarter. Abacus Planning Group Inc. now owns 1,425 shares of the aerospace company’s stock worth $416,000 after purchasing an additional 123 shares during the period. Crews Bank & Trust increased its holdings in shares of General Dynamics by 79.9% in the second quarter. Crews Bank & Trust now owns 286 shares of the aerospace company’s stock worth $83,000 after buying an additional 127 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of General Dynamics by 7.5% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,239 shares of the aerospace company’s stock valued at $11,736,000 after acquiring an additional 2,805 shares during the last quarter. HT Partners LLC purchased a new stake in General Dynamics during the 2nd quarter valued at about $204,000. Finally, Patriot Financial Group Insurance Agency LLC grew its position in General Dynamics by 27.8% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,450 shares of the aerospace company’s stock worth $1,590,000 after acquiring an additional 1,184 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

Insider Transactions at General Dynamics

In other news, VP William A. Moss sold 17,700 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $316.40, for a total transaction of $5,600,280.00. Following the completion of the transaction, the vice president directly owned 16,627 shares in the company, valued at $5,260,782.80. This trade represents a 51.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Malcolm sold 3,220 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $329.45, for a total transaction of $1,060,829.00. Following the completion of the transaction, the director owned 10,186 shares in the company, valued at approximately $3,355,777.70. The trade was a 24.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 275,020 shares of company stock valued at $86,414,503. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GD. Sanford C. Bernstein set a $314.00 price objective on General Dynamics and gave the company a “market perform” rating in a research report on Monday, July 14th. JPMorgan Chase & Co. upped their price target on shares of General Dynamics from $284.00 to $345.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft raised shares of General Dynamics from a “hold” rating to a “buy” rating and raised their price target for the stock from $298.00 to $342.00 in a report on Tuesday, July 8th. Barclays upped their price objective on shares of General Dynamics from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen downgraded General Dynamics from a “buy” rating to a “hold” rating in a report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $315.78.

General Dynamics Stock Up 0.0%

Shares of General Dynamics stock opened at $340.91 on Friday. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $341.68. The firm has a market cap of $91.70 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 2.09 and a beta of 0.47. The company has a 50-day moving average of $321.31 and a 200 day moving average of $293.60. 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 (NYSE:GD) last announced its quarterly earnings data 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 business had revenue of $13.04 billion for the quarter, compared to analysts’ expectations of $12.13 billion. During the same quarter in the prior 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. As a group, sell-side analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

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

About General Dynamics

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.