Wendell David Associates Inc. Lowers Holdings in General Dynamics Corporation $GD

Wendell David Associates Inc. trimmed its position in General Dynamics Corporation (NYSE:GD) by 5.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 700 shares of the aerospace company’s stock after selling 37 shares during the quarter. Wendell David Associates Inc.’s holdings in General Dynamics were worth $204,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Inlight Wealth Management LLC purchased a new stake in shares of General Dynamics during the 1st quarter worth $26,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of General Dynamics during the 1st quarter worth $27,000. Quarry LP lifted its stake in shares of General Dynamics by 783.3% during the 1st quarter. Quarry LP now owns 106 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 94 shares during the last quarter. Abound Financial LLC purchased a new stake in shares of General Dynamics during the 1st quarter worth $32,000. Finally, Harbor Asset Planning Inc. purchased a new stake in shares of General Dynamics during the 2nd quarter worth $35,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GD. Cowen restated a “buy” rating on shares of General Dynamics in a research note on Wednesday, June 25th. The Goldman Sachs Group upped their price objective on General Dynamics from $280.00 to $293.00 and gave the stock a “sell” rating in a research note on Friday, October 10th. Robert W. Baird upped their price objective on General Dynamics from $283.00 to $350.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Jefferies Financial Group set a $325.00 target price on General Dynamics and gave the company a “hold” rating in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. upped their target price on General Dynamics from $284.00 to $345.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $327.44.

Insiders Place Their Bets

In other news, VP William A. Moss sold 17,700 shares of the 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 transaction, the vice president directly owned 16,627 shares of the company’s stock, valued at approximately $5,260,782.80. This represents a 51.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher J. Brady sold 8,150 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $321.18, for a total value of $2,617,617.00. Following the completion of the transaction, the vice president directly owned 22,818 shares in the company, valued at $7,328,685.24. This represents a 26.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 275,020 shares of company stock valued at $86,414,503. Insiders own 1.50% of the company’s stock.

General Dynamics Trading Up 0.2%

Shares of NYSE:GD opened at $331.33 on Friday. The business’s 50-day moving average is $326.86 and its 200 day moving average is $299.05. 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 has a market capitalization of $89.12 billion, a P/E ratio of 22.24, a P/E/G 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.

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, beating analysts’ consensus estimates of $3.47 by $0.27. The business had revenue of $13.04 billion for the quarter, compared to analyst estimates of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The company’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the company earned $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. On average, research analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be issued 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 currently 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.