Shell Asset Management Co. Boosts Stock Position in General Dynamics Corporation $GD

Shell Asset Management Co. grew its stake in shares of General Dynamics Corporation (NYSE:GD) by 70.1% during the second quarter, Holdings Channel reports. The institutional investor owned 6,781 shares of the aerospace company’s stock after buying an additional 2,795 shares during the period. Shell Asset Management Co.’s holdings in General Dynamics were worth $1,978,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. KPP Advisory Services LLC lifted its position in shares of General Dynamics by 6.4% during the 2nd quarter. KPP Advisory Services LLC now owns 1,801 shares of the aerospace company’s stock valued at $525,000 after buying an additional 108 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in General Dynamics by 13.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 7,884 shares of the aerospace company’s stock valued at $2,299,000 after purchasing an additional 919 shares during the period. DAVENPORT & Co LLC raised its stake in General Dynamics by 0.3% during the 2nd quarter. DAVENPORT & Co LLC now owns 33,509 shares of the aerospace company’s stock valued at $9,772,000 after purchasing an additional 110 shares during the period. Glass Wealth Management Co LLC raised its stake in General Dynamics by 1.3% during the 2nd quarter. Glass Wealth Management Co LLC now owns 5,965 shares of the aerospace company’s stock valued at $1,740,000 after purchasing an additional 75 shares during the period. Finally, Running Oak Capital LLC raised its stake in General Dynamics by 1.2% during the 2nd quarter. Running Oak Capital LLC now owns 58,246 shares of the aerospace company’s stock valued at $16,988,000 after purchasing an additional 690 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at General Dynamics

In related news, EVP Marguerite Amy Gilliland sold 33,740 shares of the business’s stock in a transaction on 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 $14,244,518.40. The trade was a 42.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Phebe N. Novakovic sold 129,090 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $313.57, for a total value of $40,478,751.30. Following the completion of the sale, the chief executive officer owned 769,607 shares of the company’s stock, valued at $241,325,666.99. This represents a 14.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 275,020 shares of company stock worth $86,414,503 over the last quarter. 1.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GD. Sanford C. Bernstein set a $314.00 target price on General Dynamics and gave the company a “market perform” rating in a research note on Monday, July 14th. UBS Group lifted their target price on General Dynamics from $309.00 to $333.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of General Dynamics in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $400.00 target price on shares of General Dynamics in a research note on Wednesday. Finally, Cowen reissued a “buy” rating on shares of General Dynamics in a research note on Wednesday, June 25th. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $319.00.

General Dynamics Price Performance

GD opened at $346.45 on Thursday. The business has a fifty day moving average of $323.85 and a 200 day moving average of $295.77. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $347.37. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32. The stock has a market cap of $93.19 billion, a P/E ratio of 23.25, a PEG ratio of 2.10 and a beta of 0.47.

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

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be issued 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 1.7%. General Dynamics’s payout ratio is presently 40.27%.

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.