Bartlett & CO. Wealth Management LLC Sells 873 Shares of General Dynamics Corporation $GD

Bartlett & CO. Wealth Management LLC lessened its position in General Dynamics Corporation (NYSE:GD) by 0.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 140,722 shares of the aerospace company’s stock after selling 873 shares during the period. Bartlett & CO. Wealth Management LLC owned 0.05% of General Dynamics worth $41,043,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rialto Wealth Management LLC lifted its position in shares of General Dynamics by 213.8% in the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 62 shares during the period. Inlight Wealth Management LLC purchased a new stake in shares of General Dynamics in the 1st quarter worth about $26,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of General Dynamics in the 1st quarter worth about $27,000. Quarry LP lifted its position in shares of General Dynamics by 783.3% in the 1st quarter. Quarry LP now owns 106 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 94 shares during the period. Finally, Perkins Coie Trust Co lifted its position in shares of General Dynamics by 80.0% in the 1st quarter. Perkins Coie Trust Co now owns 117 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 52 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Up 2.6%

NYSE:GD opened at $340.73 on Wednesday. The firm has a market cap of $91.65 billion, a P/E ratio of 22.87, a P/E/G ratio of 2.04 and a beta of 0.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $341.02. The firm has a 50-day simple moving average of $320.30 and a two-hundred day simple moving average of $292.74.

General Dynamics (NYSE:GD) last released its quarterly earnings data 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%. General Dynamics’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the business earned $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Analysts predict 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. Shareholders of record on Friday, October 10th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, October 10th. General Dynamics’s dividend payout ratio (DPR) is currently 40.27%.

Insider Transactions at General Dynamics

In other news, Director Mark Malcolm sold 3,220 shares of the business’s 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 directly owned 10,186 shares of the company’s stock, valued at $3,355,777.70. The trade was a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Phebe N. Novakovic sold 129,090 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the transaction, the chief executive officer directly owned 769,607 shares of the company’s stock, valued at $241,325,666.99. The trade was a 14.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 275,020 shares of company stock valued at $86,414,503. Company insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GD. TD Cowen raised their target price on shares of General Dynamics from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, June 25th. Cowen reissued a “buy” rating on shares of General Dynamics in a research report on Wednesday, June 25th. Robert W. Baird lifted their price target on shares of General Dynamics from $283.00 to $350.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Wolfe Research raised shares of General Dynamics from a “peer perform” rating to an “outperform” rating and set a $360.00 price target for the company in a research report on Thursday, July 24th. Finally, Susquehanna lifted their price target on shares of General Dynamics from $315.00 to $365.00 and gave the company a “positive” rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $315.78.

General Dynamics Company 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.