Beacon Pointe Advisors LLC Sells 19,703 Shares of General Dynamics Corporation $GD

Beacon Pointe Advisors LLC cut its stake in shares of General Dynamics Corporation (NYSE:GD) by 77.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,764 shares of the aerospace company’s stock after selling 19,703 shares during the period. Beacon Pointe Advisors LLC’s holdings in General Dynamics were worth $1,681,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Nuveen LLC bought a new position in shares of General Dynamics in the first quarter valued at $272,464,000. Ameriprise Financial Inc. lifted its stake in General Dynamics by 34.8% in the first quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company’s stock valued at $749,252,000 after acquiring an additional 709,782 shares during the last quarter. Deutsche Bank AG grew its position in shares of General Dynamics by 120.9% in the 1st quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company’s stock valued at $343,866,000 after acquiring an additional 690,349 shares during the period. Prudential Financial Inc. increased its stake in shares of General Dynamics by 142.5% during the 2nd quarter. Prudential Financial Inc. now owns 438,311 shares of the aerospace company’s stock worth $127,838,000 after purchasing an additional 257,534 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in General Dynamics by 4.9% in the 1st quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company’s stock valued at $1,499,819,000 after purchasing an additional 256,687 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Trading Down 1.3%

Shares of General Dynamics stock opened at $337.29 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.87 and a current ratio of 1.40. The firm has a 50-day moving average of $341.26 and a 200-day moving average of $316.40. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $360.50. The stock has a market cap of $91.11 billion, a PE ratio of 21.86, a PEG ratio of 1.73 and a beta of 0.40.

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

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 16th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. General Dynamics’s dividend payout ratio is currently 38.89%.

Insider Buying and Selling

In other General Dynamics news, Director Mark Malcolm sold 3,220 shares of General Dynamics stock in a transaction on Friday, September 12th. The stock was sold at an average price of $329.45, for a total value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of General Dynamics in a research report on Wednesday, October 8th. Vertical Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $400.00 target price on the stock in a report on Monday, October 27th. JPMorgan Chase & Co. raised their price target on General Dynamics from $345.00 to $380.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. BNP Paribas Exane started coverage on shares of General Dynamics in a report on Tuesday, November 18th. They issued an “outperform” rating and a $410.00 price objective on the stock. Finally, Susquehanna increased their price objective 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. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $358.10.

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.