Prospera Financial Services Inc Trims Position in General Dynamics Corporation $GD

Prospera Financial Services Inc trimmed its holdings in shares of General Dynamics Corporation (NYSE:GD) by 23.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,255 shares of the aerospace company’s stock after selling 2,865 shares during the quarter. Prospera Financial Services Inc’s holdings in General Dynamics were worth $2,703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Quarry LP lifted its position in General Dynamics by 783.3% during the first quarter. Quarry LP now owns 106 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 94 shares during the period. Nova Wealth Management Inc. acquired a new stake in General Dynamics during the 1st quarter worth about $33,000. NewSquare Capital LLC raised its stake in shares of General Dynamics by 64.7% during the 2nd quarter. NewSquare Capital LLC now owns 112 shares of the aerospace company’s stock valued at $33,000 after buying an additional 44 shares during the last quarter. Harbor Asset Planning Inc. acquired a new position in shares of General Dynamics in the 2nd quarter valued at about $35,000. Finally, Access Investment Management LLC purchased a new stake in shares of General Dynamics in the second quarter worth about $35,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Trading Up 0.9%

Shares of GD stock opened at $349.55 on Tuesday. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $360.50. The company has a market cap of $94.42 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 2.05 and a beta of 0.46. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.40 and a quick ratio of 0.87. The stock has a 50 day simple moving average of $334.95 and a 200-day simple moving average of $307.96.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Friday, October 24th. The aerospace company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.69 by $0.19. The company had revenue of $12.91 billion during the quarter, compared to analyst estimates of $12.49 billion. General Dynamics had a net margin of 8.18% and a return on equity of 18.27%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.35 EPS. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. On average, equities research analysts expect that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

Insider Activity at General Dynamics

In related news, CEO Phebe N. Novakovic sold 129,090 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 769,607 shares in the company, valued at $241,325,666.99. This represents a 14.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher J. Brady sold 8,150 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $321.18, for a total transaction of $2,617,617.00. Following the completion of the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 159,370 shares of company stock worth $50,143,516 over the last three months. Company insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on GD. Sanford C. Bernstein raised their target price on General Dynamics from $335.00 to $388.00 and gave the stock a “market perform” rating in a report on Tuesday, October 28th. Wolfe Research raised their price objective on shares of General Dynamics from $360.00 to $400.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. lifted their target price on shares of General Dynamics from $345.00 to $380.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Melius Research upgraded shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 28th. Finally, Susquehanna raised their price target on shares of General Dynamics from $365.00 to $406.00 and gave the company a “positive” rating 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and a consensus price target of $350.89.

General Dynamics 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.