Ignite Planners LLC Lowers Holdings in General Dynamics Corporation $GD

Ignite Planners LLC lowered its stake in shares of General Dynamics Corporation (NYSE:GD) by 9.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,630 shares of the aerospace company’s stock after selling 175 shares during the period. Ignite Planners LLC’s holdings in General Dynamics were worth $487,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its holdings in General Dynamics by 4.9% during 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 period. Ameriprise Financial Inc. lifted its holdings in General Dynamics by 34.8% during the first quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company’s stock worth $749,252,000 after buying an additional 709,782 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in General Dynamics by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,582,388 shares of the aerospace company’s stock worth $431,327,000 after buying an additional 5,313 shares during the period. Boston Partners lifted its holdings in General Dynamics by 7.9% during the first quarter. Boston Partners now owns 1,296,497 shares of the aerospace company’s stock worth $353,558,000 after buying an additional 94,537 shares during the period. Finally, Deutsche Bank AG lifted its holdings in General Dynamics by 120.9% during the first quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company’s stock worth $343,866,000 after buying an additional 690,349 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

NYSE GD opened at $346.45 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. The stock’s fifty day moving average price is $323.85 and its 200 day moving average price is $295.77. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $347.37. The company has a market cap of $93.19 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 2.10 and a beta of 0.47.

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

General Dynamics Dividend Announcement

The business also recently disclosed 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 dividend yield of 1.7%. General Dynamics’s dividend payout ratio (DPR) is presently 40.27%.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, EVP Marguerite Amy Gilliland sold 33,740 shares of General Dynamics stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $315.20, for a total transaction of $10,634,848.00. Following the completion of the transaction, the executive vice president owned 45,192 shares in the company, valued at approximately $14,244,518.40. This trade represents a 42.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Phebe N. Novakovic sold 129,090 shares of General Dynamics stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $313.57, for a total value of $40,478,751.30. Following the transaction, the chief executive officer owned 769,607 shares of the company’s stock, valued at $241,325,666.99. The trade was a 14.36% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 275,020 shares of company stock worth $86,414,503. Insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

GD has been the subject of several analyst reports. TD Cowen increased their price objective on General Dynamics from $290.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, June 25th. Seaport Res Ptn upgraded General Dynamics from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. Sanford C. Bernstein set a $314.00 price objective on General Dynamics and gave the company a “market perform” rating in a report on Monday, July 14th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $400.00 price objective on shares of General Dynamics in a report on Wednesday. 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 analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $319.00.

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.