Nomura Asset Management Co. Ltd. Reduces Stake in General Dynamics Corporation $GD

Nomura Asset Management Co. Ltd. cut its position in shares of General Dynamics Corporation (NYSE:GD) by 0.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 214,987 shares of the aerospace company’s stock after selling 322 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in General Dynamics were worth $62,703,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GD. Quarry LP raised 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 buying an additional 94 shares during the last quarter. Nova Wealth Management Inc. purchased a new position in General Dynamics during the 1st quarter valued at about $33,000. NewSquare Capital LLC increased its holdings in General Dynamics by 64.7% during the 2nd quarter. NewSquare Capital LLC now owns 112 shares of the aerospace company’s stock valued at $33,000 after acquiring an additional 44 shares in the last quarter. Harbor Asset Planning Inc. purchased a new stake in shares of General Dynamics in the second quarter valued at about $35,000. Finally, Access Investment Management LLC acquired a new stake in shares of General Dynamics in the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Buying and Selling

In other news, VP Christopher J. Brady sold 8,150 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $321.18, for a total value of $2,617,617.00. Following the transaction, the vice president directly owned 22,818 shares in the company, valued at $7,328,685.24. This trade represents a 26.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark Malcolm sold 3,220 shares of General Dynamics stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $329.45, for a total value of $1,060,829.00. Following the completion of the transaction, the director directly owned 10,186 shares in the company, valued at $3,355,777.70. This represents a 24.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 12,580 shares of company stock worth $4,064,484. 1.50% of the stock is currently owned by insiders.

General Dynamics Stock Down 0.7%

Shares of NYSE:GD opened at $341.83 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 0.87 and a debt-to-equity ratio of 0.29. The firm has a market cap of $92.33 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 2.05 and a beta of 0.46. The stock’s 50-day moving average price is $337.29 and its two-hundred day moving average price is $310.58. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $360.50.

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

Wall Street Analysts Forecast Growth

GD has been the topic of a number of recent research reports. Wolfe Research upped their target price on General Dynamics from $360.00 to $400.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. UBS Group upped their price objective on General Dynamics from $369.00 to $381.00 and gave the company a “neutral” rating in a research report on Monday, October 27th. Barclays lifted their price objective on General Dynamics from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Weiss Ratings restated a “buy (b)” rating on shares of General Dynamics in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of General Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $350.89.

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.