ProShare Advisors LLC Sells 34,602 Shares of General Dynamics Corporation $GD

ProShare Advisors LLC lessened its holdings in General Dynamics Corporation (NYSE:GD) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 643,092 shares of the aerospace company’s stock after selling 34,602 shares during the period. ProShare Advisors LLC owned approximately 0.24% of General Dynamics worth $187,564,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its stake in shares of General Dynamics by 16.9% in the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company’s stock worth $760,000 after buying an additional 417 shares during the last quarter. Alps Advisors Inc. increased its stake in General Dynamics by 1.0% in the first quarter. Alps Advisors Inc. now owns 8,944 shares of the aerospace company’s stock valued at $2,438,000 after purchasing an additional 90 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of General Dynamics by 3.1% during the first quarter. Cerity Partners LLC now owns 61,304 shares of the aerospace company’s stock worth $16,710,000 after buying an additional 1,834 shares during the last quarter. IFC Advisors LLC acquired a new stake in shares of General Dynamics in the 1st quarter worth $224,000. Finally, Ballentine Partners LLC boosted its stake in shares of General Dynamics by 13.0% during the 1st quarter. Ballentine Partners LLC now owns 3,577 shares of the aerospace company’s stock worth $975,000 after acquiring an additional 412 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on GD. Bank of America boosted their target price on General Dynamics from $370.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Barclays lifted their target price on shares of General Dynamics from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. UBS Group lifted their price target on shares of General Dynamics from $369.00 to $381.00 and gave the stock a “neutral” rating in a report on Monday, October 27th. Sanford C. Bernstein upped their price objective on shares of General Dynamics from $335.00 to $388.00 and gave the company a “market perform” rating in a research note on Tuesday, October 28th. Finally, Vertical Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $400.00 target price on the stock in a research report on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $350.89.

Insider Activity at General Dynamics

In related news, VP Christopher J. Brady sold 8,150 shares of the stock in a transaction dated Monday, August 25th. The shares were 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 owned 22,818 shares in the company, valued at approximately $7,328,685.24. This trade represents a 26.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William A. Moss sold 17,700 shares of General Dynamics stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $316.40, for a total value of $5,600,280.00. Following the sale, the vice president directly owned 16,627 shares in the company, valued at approximately $5,260,782.80. This trade represents a 51.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 159,370 shares of company stock worth $50,143,516 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

General Dynamics Price Performance

Shares of NYSE:GD opened at $346.58 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.40 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average price of $334.45 and a 200 day moving average price of $307.42. The company has a market cap of $93.62 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 2.05 and a beta of 0.46. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $360.50.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Friday, October 24th. The aerospace company reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.19. The company had revenue of $12.91 billion during the quarter, compared to analysts’ expectations of $12.49 billion. General Dynamics had a return on equity of 18.27% and a net margin of 8.18%.General Dynamics’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.35 earnings per share. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. Research analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current year.

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.