Allspring Global Investments Holdings LLC Reduces Holdings in General Dynamics Corporation $GD

Allspring Global Investments Holdings LLC lessened its stake in General Dynamics Corporation (NYSE:GD) by 62.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,754 shares of the aerospace company’s stock after selling 69,139 shares during the period. Allspring Global Investments Holdings LLC’s holdings in General Dynamics were worth $11,997,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GD. Brighton Jones LLC increased its stake in General Dynamics by 16.9% during the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company’s stock valued at $760,000 after purchasing an additional 417 shares during the last quarter. GAMMA Investing LLC raised its position in General Dynamics by 27.2% in the first quarter. GAMMA Investing LLC now owns 4,566 shares of the aerospace company’s stock worth $1,245,000 after acquiring an additional 977 shares in the last quarter. Exchange Traded Concepts LLC raised its position in General Dynamics by 16.1% in the first quarter. Exchange Traded Concepts LLC now owns 901 shares of the aerospace company’s stock worth $246,000 after acquiring an additional 125 shares in the last quarter. Johnson Investment Counsel Inc. raised its position in General Dynamics by 11.1% in the first quarter. Johnson Investment Counsel Inc. now owns 3,643 shares of the aerospace company’s stock worth $993,000 after acquiring an additional 365 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in General Dynamics by 26.8% during the 1st quarter. Blue Trust Inc. now owns 2,051 shares of the aerospace company’s stock worth $559,000 after buying an additional 434 shares during the period. Institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GD shares. Weiss Ratings reiterated a “buy (b)” rating on shares of General Dynamics in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $400.00 target price on shares of General Dynamics in a research report on Wednesday, October 8th. Morgan Stanley increased their price objective on General Dynamics from $328.00 to $360.00 and gave the company an “equal weight” rating in a research report on Wednesday. Citigroup upped their target price on General Dynamics from $348.00 to $368.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, UBS Group increased their price objective on General Dynamics from $309.00 to $333.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $327.44.

General Dynamics Stock Performance

GD opened at $331.33 on Friday. The business has a fifty day simple moving average of $326.86 and a 200 day simple moving average of $299.05. The company has a market capitalization of $89.12 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 2.04 and a beta of 0.47. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $347.37. 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 released its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.27. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The firm had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. During the same period in the prior year, the company posted $3.26 EPS. The company’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. Research analysts expect that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

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

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 129,090 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $313.57, for a total value of $40,478,751.30. Following the completion of the transaction, the chief executive officer owned 769,607 shares of the company’s stock, valued at $241,325,666.99. This represents a 14.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP William A. Moss sold 17,700 shares of the company’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $316.40, for a total value of $5,600,280.00. Following the completion of the transaction, the vice president directly owned 16,627 shares of the company’s stock, valued at approximately $5,260,782.80. The trade was a 51.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 275,020 shares of company stock worth $86,414,503. Company insiders own 1.50% of the company’s stock.

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.