Ascent Group LLC Sells 1,053 Shares of General Dynamics Corporation $GD

Ascent Group LLC lessened its holdings in shares of General Dynamics Corporation (NYSE:GD) by 18.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,794 shares of the aerospace company’s stock after selling 1,053 shares during the quarter. Ascent Group LLC’s holdings in General Dynamics were worth $1,398,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the business. Salvus Wealth Management LLC increased its holdings in shares of General Dynamics by 2.9% during the 2nd quarter. Salvus Wealth Management LLC now owns 1,274 shares of the aerospace company’s stock worth $372,000 after purchasing an additional 36 shares during the period. Principal Securities Inc. grew its position in General Dynamics by 0.5% during the first quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company’s stock worth $2,161,000 after buying an additional 37 shares in the last quarter. Sharpepoint LLC increased its stake in General Dynamics by 4.2% during the first quarter. Sharpepoint LLC now owns 917 shares of the aerospace company’s stock valued at $249,000 after acquiring an additional 37 shares during the period. United Asset Strategies Inc. raised its holdings in General Dynamics by 1.2% in the 1st quarter. United Asset Strategies Inc. now owns 3,140 shares of the aerospace company’s stock valued at $856,000 after acquiring an additional 37 shares in the last quarter. Finally, Southland Equity Partners LLC grew its holdings in shares of General Dynamics by 3.2% during the 2nd quarter. Southland Equity Partners LLC now owns 1,185 shares of the aerospace company’s stock worth $346,000 after purchasing an additional 37 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

General Dynamics Trading Up 0.8%

GD opened at $343.76 on Monday. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $345.22. The firm has a 50-day moving average price of $321.91 and a two-hundred day moving average price of $294.50. The stock has a market capitalization of $92.47 billion, a PE ratio of 23.07, a PEG ratio of 2.10 and a beta of 0.47. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, beating the consensus estimate of $3.47 by $0.27. The business had revenue of $13.04 billion for the quarter, compared to analysts’ expectations of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. General Dynamics’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. As a group, equities analysts anticipate 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. Investors of record on Friday, October 10th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, October 10th. General Dynamics’s dividend payout ratio (DPR) is presently 40.27%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Barclays upped their target price on General Dynamics from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. raised their price objective on shares of General Dynamics from $284.00 to $345.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Cowen reiterated a “buy” rating on shares of General Dynamics in a research report on Wednesday, June 25th. Seaport Res Ptn raised shares of General Dynamics from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 29th. Finally, Jefferies Financial Group set a $325.00 price objective on General Dynamics and gave the company a “hold” rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $315.78.

Insider Activity

In other news, EVP Marguerite Amy Gilliland sold 33,740 shares of General Dynamics 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. The trade was a 42.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Malcolm sold 3,220 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $329.45, for a total transaction of $1,060,829.00. Following the completion of the transaction, the director 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 can be found here. In the last three months, insiders sold 275,020 shares of company stock worth $86,414,503. Corporate insiders own 1.50% of the company’s stock.

General Dynamics Profile

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.