Elevation Point Wealth Partners LLC Sells 2,050 Shares of General Dynamics Corporation $GD

Elevation Point Wealth Partners LLC reduced its position in General Dynamics Corporation (NYSE:GD) by 14.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,347 shares of the aerospace company’s stock after selling 2,050 shares during the period. Elevation Point Wealth Partners LLC’s holdings in General Dynamics were worth $4,374,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of General Dynamics by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock valued at $8,338,169,000 after purchasing an additional 528,769 shares in the last quarter. BlackRock Inc. purchased a new position in General Dynamics in the 2nd quarter worth about $6,840,590,000. State Street Corp raised its position in General Dynamics by 2.7% in the 4th quarter. State Street Corp now owns 11,323,170 shares of the aerospace company’s stock worth $3,812,058,000 after buying an additional 294,456 shares during the last quarter. Geode Capital Management LLC lifted its stake in General Dynamics by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 6,065,462 shares of the aerospace company’s stock valued at $2,039,742,000 after acquiring an additional 195,604 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in General Dynamics by 2.2% during the 4th quarter. JPMorgan Chase & Co. now owns 5,307,389 shares of the aerospace company’s stock valued at $1,786,786,000 after acquiring an additional 114,647 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling at General Dynamics

In related news, CEO Phebe N. Novakovic sold 51,568 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $382.58, for a total transaction of $19,728,885.44. Following the completion of the transaction, the chief executive officer owned 766,457 shares in the company, valued at $293,231,119.06. The trade was a 6.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Malcolm sold 5,480 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the completion of the transaction, the director owned 10,643 shares in the company, valued at $3,884,695. This represents a 33.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 100,228 shares of company stock worth $38,052,853 over the last 90 days. Company insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GD. Bank of America lifted their price target on shares of General Dynamics from $400.00 to $415.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. UBS Group raised their target price on shares of General Dynamics from $366.00 to $395.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Weiss Ratings raised shares of General Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 1st. TD Cowen boosted their target price on shares of General Dynamics from $390.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Wall Street Zen cut General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $410.89.

General Dynamics Trading Down 0.4%

Shares of General Dynamics stock opened at $384.50 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.44 and a quick ratio of 0.96. The stock has a market capitalization of $104.03 billion, a PE ratio of 23.46, a P/E/G ratio of 2.22 and a beta of 0.33. General Dynamics Corporation has a 1-year low of $306.77 and a 1-year high of $400.00. The company’s fifty day simple moving average is $374.15 and its 200-day simple moving average is $355.82.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, July 29th. The aerospace company reported $4.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.28. The business had revenue of $14.09 billion during the quarter, compared to analyst estimates of $13.52 billion. General Dynamics had a return on equity of 17.43% and a net margin of 8.18%.General Dynamics’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.74 earnings per share. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. As a group, equities analysts anticipate that General Dynamics Corporation will post 16.97 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 9th will be issued a $1.59 dividend. This represents a $6.36 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, October 9th. General Dynamics’s dividend payout ratio (DPR) is 38.80%.

About General Dynamics

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.