Allspring Global Investments Holdings LLC Sells 69,139 Shares of General Dynamics Corporation $GD

Allspring Global Investments Holdings LLC decreased its holdings in shares of General Dynamics Corporation (NYSE:GD) by 62.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,754 shares of the aerospace company’s stock after selling 69,139 shares during the period. Allspring Global Investments Holdings LLC’s holdings in General Dynamics were worth $11,997,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen LLC bought a new position in General Dynamics in the first quarter worth approximately $272,464,000. Ameriprise Financial Inc. increased its position in shares of General Dynamics by 34.8% during the first quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company’s stock valued at $749,252,000 after acquiring an additional 709,782 shares during the last quarter. Deutsche Bank AG increased its position in shares of General Dynamics by 120.9% during the first quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company’s stock valued at $343,866,000 after acquiring an additional 690,349 shares during the last quarter. JPMorgan Chase & Co. increased its position in General Dynamics by 4.9% in the first quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company’s stock worth $1,499,819,000 after buying an additional 256,687 shares during the last quarter. Finally, Aurora Private Wealth Inc. increased its position in General Dynamics by 25,390.6% in the first quarter. Aurora Private Wealth Inc. now owns 203,670 shares of the aerospace company’s stock worth $55,516,000 after buying an additional 202,871 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

In other news, VP Christopher J. Brady sold 8,150 shares of the company’s stock in a transaction on 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 completion of the sale, the vice president directly owned 22,818 shares in the company, valued at $7,328,685.24. This represents a 26.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mark Malcolm sold 3,220 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $329.45, for a total value of $1,060,829.00. Following the completion of the sale, the director owned 10,186 shares of the company’s stock, valued at $3,355,777.70. This trade represents a 24.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 275,020 shares of company stock worth $86,414,503 over the last three months. 1.50% of the stock is currently owned by insiders.

General Dynamics Stock Performance

GD stock opened at $331.33 on Friday. The stock has a market capitalization of $89.12 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 2.04 and a beta of 0.47. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $347.37. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. The stock’s 50 day simple moving average is $326.86 and its 200 day simple moving average is $299.05.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.27. The business had revenue of $13.04 billion during the quarter, compared to analyst estimates of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. As a group, research analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be paid 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 yield of 1.8%. General Dynamics’s payout ratio is currently 40.27%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $400.00 price target on shares of General Dynamics in a research report on Wednesday, October 8th. Robert W. Baird lifted their price target on General Dynamics from $283.00 to $350.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Morgan Stanley lifted their price objective on General Dynamics from $328.00 to $360.00 and gave the stock an “equal weight” rating in a report on Wednesday. Jefferies Financial Group set a $325.00 price target on General Dynamics and gave the company a “hold” rating in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. upped their target price on General Dynamics from $284.00 to $345.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $327.44.

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.