Verity Asset Management Inc. Lowers Stake in General Dynamics Corporation $GD

Verity Asset Management Inc. reduced its position in shares of General Dynamics Corporation (NYSE:GD) by 48.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,708 shares of the aerospace company’s stock after selling 1,628 shares during the quarter. Verity Asset Management Inc.’s holdings in General Dynamics were worth $498,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Quarry LP boosted 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 acquiring an additional 94 shares in the last quarter. Abound Financial LLC purchased a new stake in shares of General Dynamics during the 1st quarter worth about $32,000. Harbor Asset Planning Inc. purchased a new stake in shares of General Dynamics during the 2nd quarter worth about $35,000. Nova Wealth Management Inc. purchased a new stake in shares of General Dynamics during the 1st quarter worth about $33,000. Finally, Salomon & Ludwin LLC raised its position in shares of General Dynamics by 70.4% during the 2nd quarter. Salomon & Ludwin LLC now owns 121 shares of the aerospace company’s stock worth $36,000 after purchasing an additional 50 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on GD shares. Bank of America upped their price target on shares of General Dynamics from $370.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Sanford C. Bernstein upped their price target on shares of General Dynamics from $335.00 to $388.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 28th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $400.00 price target on shares of General Dynamics in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of General Dynamics from $345.00 to $380.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Finally, Morgan Stanley set a $385.00 price target on shares of General Dynamics in a research report on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and an average price target of $350.89.

General Dynamics Stock Up 0.0%

GD stock opened at $344.81 on Monday. The company has a market cap of $93.14 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 2.05 and a beta of 0.47. The company has a current ratio of 1.40, a quick ratio of 0.87 and a debt-to-equity ratio of 0.29. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $360.50. The firm has a 50-day moving average of $332.50 and a two-hundred day moving average of $304.95.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Friday, October 24th. The aerospace company reported $3.88 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.19. The company had revenue of $12.91 billion during the quarter, compared to the consensus estimate of $12.49 billion. General Dynamics had a net margin of 8.18% and a return on equity of 18.27%. General Dynamics’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.35 EPS. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. As a group, analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be issued 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 dividend yield of 1.7%. General Dynamics’s dividend payout ratio (DPR) is currently 38.89%.

Insider Buying and Selling at General Dynamics

In other news, EVP Marguerite Amy Gilliland sold 33,740 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president owned 45,192 shares in the company, valued at $14,244,518.40. This trade represents a 42.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Phebe N. Novakovic sold 129,090 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the sale, 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 disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 193,110 shares of company stock worth $60,778,364. Insiders own 1.50% of the company’s stock.

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.