General Dynamics Corporation $GD Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC reduced its position in General Dynamics Corporation (NYSE:GD) by 18.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,748 shares of the aerospace company’s stock after selling 854 shares during the quarter. Convergence Investment Partners LLC’s holdings in General Dynamics were worth $1,093,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of General Dynamics by 16.9% during the 4th quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company’s stock worth $760,000 after purchasing an additional 417 shares during the period. GAMMA Investing LLC grew its stake in shares of General Dynamics by 27.2% during the 1st quarter. GAMMA Investing LLC now owns 4,566 shares of the aerospace company’s stock worth $1,245,000 after purchasing an additional 977 shares during the period. Golden State Wealth Management LLC grew its stake in shares of General Dynamics by 114.9% during the 1st quarter. Golden State Wealth Management LLC now owns 490 shares of the aerospace company’s stock worth $134,000 after purchasing an additional 262 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of General Dynamics by 8.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,434 shares of the aerospace company’s stock worth $10,073,000 after purchasing an additional 2,786 shares during the period. Finally, Verity Asset Management Inc. grew its stake in shares of General Dynamics by 84.4% during the 1st quarter. Verity Asset Management Inc. now owns 3,336 shares of the aerospace company’s stock worth $909,000 after purchasing an additional 1,527 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Seaport Res Ptn raised shares of General Dynamics from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. Citigroup increased their price objective on shares of General Dynamics from $348.00 to $368.00 and gave the company a “buy” 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, October 8th. Wolfe Research increased their price objective on shares of General Dynamics from $360.00 to $400.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Finally, Barclays increased their price objective on shares of General Dynamics from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $342.11.

Insider Buying and Selling

In other General Dynamics news, EVP Marguerite Amy Gilliland sold 33,740 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $315.20, for a total value of $10,634,848.00. Following the transaction, the executive vice president directly owned 45,192 shares in the company, valued at approximately $14,244,518.40. This represents a 42.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher J. Brady sold 8,150 shares of the company’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 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 disclosure for this sale can be found here. Insiders sold 193,110 shares of company stock worth $60,778,364 in the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

General Dynamics Price Performance

NYSE:GD opened at $353.55 on Tuesday. The firm has a market cap of $95.10 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 2.15 and a beta of 0.47. The company has a current ratio of 1.40, a quick ratio of 0.87 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average is $330.30 and its two-hundred day moving average is $302.83. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $360.50.

General Dynamics (NYSE:GD) last released its earnings results on Friday, October 24th. The aerospace company reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.69 by $0.19. The company had revenue of $12.91 billion for 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 quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.35 EPS. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. Research analysts expect that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, October 10th. General Dynamics’s dividend payout ratio is 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.