State of Alaska Department of Revenue Decreases Position in General Dynamics Corporation $GD

State of Alaska Department of Revenue lowered its stake in shares of General Dynamics Corporation (NYSE:GD) by 4.0% during the second quarter, Holdings Channel reports. The fund owned 34,356 shares of the aerospace company’s stock after selling 1,430 shares during the period. State of Alaska Department of Revenue’s holdings in General Dynamics were worth $10,019,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GD. NovaPoint Capital LLC increased its holdings in General Dynamics by 5.1% during the 2nd quarter. NovaPoint Capital LLC now owns 14,757 shares of the aerospace company’s stock worth $4,304,000 after purchasing an additional 713 shares during the period. Patton Fund Management Inc. acquired a new stake in General Dynamics in the second quarter valued at approximately $236,000. Kathmere Capital Management LLC lifted its stake in General Dynamics by 36.1% in the second quarter. Kathmere Capital Management LLC now owns 5,227 shares of the aerospace company’s stock worth $1,525,000 after acquiring an additional 1,386 shares during the last quarter. BOS Asset Management LLC grew its holdings in General Dynamics by 22.5% during the 2nd quarter. BOS Asset Management LLC now owns 2,953 shares of the aerospace company’s stock worth $861,000 after acquiring an additional 543 shares in the last quarter. Finally, FCG Investment Co increased its holdings in General Dynamics by 19.4% in the second quarter. FCG Investment Co now owns 6,914 shares of the aerospace company’s stock valued at $2,017,000 after buying an additional 1,122 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP William A. Moss sold 17,700 shares of General Dynamics stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $316.40, for a total value of $5,600,280.00. Following the sale, the vice president owned 16,627 shares of the company’s stock, valued at $5,260,782.80. The trade was a 51.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $315.20, for a total transaction of $10,634,848.00. Following the transaction, the executive vice president directly owned 45,192 shares of the company’s stock, valued at $14,244,518.40. This represents a 42.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 275,020 shares of company stock worth $86,414,503. 1.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GD. Sanford C. Bernstein set a $314.00 price objective on General Dynamics and gave the stock a “market perform” rating in a research report on Monday, July 14th. Cowen reissued a “buy” rating on shares of General Dynamics in a report on Wednesday, June 25th. Susquehanna upped their target price on shares of General Dynamics from $315.00 to $365.00 and gave the company a “positive” rating in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft raised shares of General Dynamics from a “hold” rating to a “buy” rating and increased their target price for the company from $298.00 to $342.00 in a research report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of General Dynamics from $284.00 to $345.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Nine investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, General Dynamics presently has a consensus rating of “Hold” and an average target price of $315.78.

General Dynamics Trading Up 1.9%

Shares of General Dynamics stock opened at $330.54 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. The company has a market capitalization of $88.91 billion, a P/E ratio of 22.18, a PEG ratio of 2.03 and a beta of 0.50. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $330.63. The company’s fifty day moving average is $318.73 and its two-hundred day moving average is $291.70.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.27. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The firm had revenue of $13.04 billion for the quarter, compared to analyst estimates of $12.13 billion. During the same quarter last year, the company posted $3.26 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics’s payout ratio is currently 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.