Primecap Management Co. CA Sells 103,210 Shares of General Dynamics Corporation $GD

Primecap Management Co. CA trimmed its position in shares of General Dynamics Corporation (NYSE:GD) by 19.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 431,470 shares of the aerospace company’s stock after selling 103,210 shares during the period. Primecap Management Co. CA’s holdings in General Dynamics were worth $147,131,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of General Dynamics by 2.9% during the third quarter. Vanguard Group Inc. now owns 24,238,561 shares of the aerospace company’s stock valued at $8,265,349,000 after purchasing an additional 677,665 shares in the last quarter. State Street Corp lifted its position in General Dynamics by 1.1% during the second quarter. State Street Corp now owns 11,140,437 shares of the aerospace company’s stock valued at $3,249,220,000 after buying an additional 119,664 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of General Dynamics by 25.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,439,720 shares of the aerospace company’s stock valued at $1,003,444,000 after buying an additional 691,340 shares in the last quarter. Invesco Ltd. grew its position in shares of General Dynamics by 0.4% in the 2nd quarter. Invesco Ltd. now owns 2,385,573 shares of the aerospace company’s stock worth $695,776,000 after buying an additional 9,283 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of General Dynamics by 2.5% in the 2nd quarter. Franklin Resources Inc. now owns 1,712,190 shares of the aerospace company’s stock worth $499,377,000 after acquiring an additional 41,349 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GD. BNP Paribas Exane decreased their target price on shares of General Dynamics from $420.00 to $410.00 and set an “outperform” rating for the company in a research note on Thursday, January 29th. Jefferies Financial Group upped their price target on General Dynamics from $360.00 to $385.00 and gave the stock a “hold” rating in a research note on Sunday, February 1st. Sanford C. Bernstein reiterated a “market perform” rating and set a $398.00 price objective on shares of General Dynamics in a research note on Monday, January 12th. JPMorgan Chase & Co. increased their target price on General Dynamics from $380.00 to $385.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Finally, UBS Group set a $393.00 price target on General Dynamics in a report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and a consensus target price of $376.26.

Insider Activity at General Dynamics

In other General Dynamics news, VP David Paddock sold 20,360 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $334.92, for a total transaction of $6,818,971.20. Following the completion of the sale, the vice president directly owned 36,644 shares in the company, valued at approximately $12,272,808.48. The trade was a 35.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Mark Rayha sold 4,370 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $348.79, for a total value of $1,524,212.30. Following the completion of the transaction, the vice president owned 7,936 shares in the company, valued at approximately $2,767,997.44. This trade represents a 35.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.50% of the stock is owned by insiders.

General Dynamics Stock Up 2.2%

General Dynamics stock opened at $350.72 on Friday. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $369.70. The stock has a fifty day simple moving average of $352.42 and a two-hundred day simple moving average of $340.24. The company has a current ratio of 1.44, a quick ratio of 0.89 and a debt-to-equity ratio of 0.27. The firm has a market cap of $94.83 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 2.05 and a beta of 0.41.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, January 28th. The aerospace company reported $4.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.11 by $0.06. General Dynamics had a return on equity of 17.57% and a net margin of 8.01%.The firm had revenue of $14.38 billion for the quarter, compared to the consensus estimate of $13.77 billion. During the same period in the prior year, the company posted $4.15 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. General Dynamics has set its FY 2026 guidance at 16.100-16.200 EPS. Equities analysts predict that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 6th. Stockholders of record on Friday, January 16th were paid a $1.50 dividend. The ex-dividend date was Friday, January 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.7%. General Dynamics’s payout ratio is currently 38.83%.

General Dynamics Company Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.