General Dynamics Corporation $GD Shares Sold by Conning Inc.

Conning Inc. decreased its holdings in General Dynamics Corporation (NYSE:GD) by 16.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 102,480 shares of the aerospace company’s stock after selling 20,776 shares during the quarter. General Dynamics comprises approximately 1.2% of Conning Inc.’s investment portfolio, making the stock its 20th largest holding. Conning Inc.’s holdings in General Dynamics were worth $34,946,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC acquired a new position in shares of General Dynamics in the 3rd quarter valued at approximately $26,000. Louisbourg Investments Inc. bought a new stake in shares of General Dynamics in the third quarter worth $27,000. Vermillion & White Wealth Management Group LLC raised its holdings in General Dynamics by 80.3% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 110 shares of the aerospace company’s stock valued at $32,000 after acquiring an additional 49 shares in the last quarter. NewSquare Capital LLC boosted its stake in 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 acquiring an additional 44 shares during the last quarter. Finally, Harbor Asset Planning Inc. acquired a new position in General Dynamics during the 2nd quarter worth $35,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

In other General Dynamics news, VP David Paddock sold 20,360 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $334.92, for a total value of $6,818,971.20. Following the completion of the transaction, the vice president owned 36,644 shares in the company, valued at approximately $12,272,808.48. This represents a 35.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GD shares. BNP Paribas upgraded shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, November 18th. BNP Paribas Exane assumed coverage on General Dynamics in a research note on Tuesday, November 18th. They set an “outperform” rating and a $410.00 price objective on the stock. Citigroup lifted their target price on General Dynamics from $371.00 to $389.00 and gave the stock a “neutral” rating in a research report on Tuesday. Sanford C. Bernstein reiterated a “market perform” rating and issued a $398.00 price target on shares of General Dynamics in a report on Monday. Finally, Argus raised their price objective on General Dynamics from $345.00 to $380.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $359.90.

General Dynamics Trading Up 0.7%

NYSE:GD opened at $365.76 on Thursday. The firm has a market capitalization of $98.80 billion, a P/E ratio of 23.70, a P/E/G ratio of 1.61 and a beta of 0.41. The business has a 50 day simple moving average of $343.54 and a 200 day simple moving average of $329.58. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.40 and a quick ratio of 0.87. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $367.65.

General Dynamics (NYSE:GD) last issued its earnings results 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 return on equity of 18.27% and a net margin of 8.18%.The firm had revenue of $12.91 billion for the quarter, compared to analyst estimates of $12.49 billion. During the same period last year, the company earned $3.35 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. Equities research analysts predict that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 16th will be given a $1.50 dividend. The ex-dividend date is Friday, January 16th. This represents a $6.00 annualized dividend and a yield of 1.6%. General Dynamics’s dividend payout ratio (DPR) is currently 38.89%.

About General Dynamics

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.