TBH Global Asset Management LLC Sells 1,181 Shares of General Dynamics Corporation $GD

TBH Global Asset Management LLC decreased its holdings in shares of General Dynamics Corporation (NYSE:GD) by 33.0% in the second quarter, HoldingsChannel reports. The fund owned 2,402 shares of the aerospace company’s stock after selling 1,181 shares during the quarter. TBH Global Asset Management LLC’s holdings in General Dynamics were worth $701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of GD. TOWER TRUST & INVESTMENT Co boosted its holdings in General Dynamics by 1.5% in the 2nd quarter. TOWER TRUST & INVESTMENT Co now owns 3,875 shares of the aerospace company’s stock worth $1,130,000 after buying an additional 59 shares during the period. Spirepoint Private Client LLC boosted its holdings in General Dynamics by 3.4% in the 2nd quarter. Spirepoint Private Client LLC now owns 26,059 shares of the aerospace company’s stock worth $7,600,000 after buying an additional 863 shares during the period. Processus Wealth & Capital Management LLC boosted its holdings in General Dynamics by 4.6% in the 2nd quarter. Processus Wealth & Capital Management LLC now owns 7,078 shares of the aerospace company’s stock worth $2,064,000 after buying an additional 309 shares during the period. GoalFusion Wealth Management LLC bought a new position in General Dynamics in the 2nd quarter worth $202,000. Finally, Signaturefd LLC boosted its holdings in General Dynamics by 8.0% in the 2nd quarter. Signaturefd LLC now owns 5,752 shares of the aerospace company’s stock worth $1,678,000 after buying an additional 426 shares during the period. Institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other General Dynamics 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 value of $40,478,751.30. Following the completion of the sale, the chief executive officer directly owned 769,607 shares of the company’s stock, valued at approximately $241,325,666.99. This represents a 14.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William A. Moss sold 17,700 shares of the company’s 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 completion of the transaction, the vice president owned 16,627 shares in the company, valued at $5,260,782.80. This represents a 51.56% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 275,020 shares of company stock valued at $86,414,503. 1.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on GD. Sanford C. Bernstein set a $314.00 price target on shares of General Dynamics and gave the stock a “market perform” rating in a research note on Monday, July 14th. Robert W. Baird upped their target price on shares of General Dynamics from $283.00 to $350.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Susquehanna raised their price target on shares of General Dynamics from $315.00 to $365.00 and gave the stock a “positive” rating in a report on Thursday, July 24th. Wolfe Research upgraded shares of General Dynamics from a “peer perform” rating to an “outperform” rating and set a $360.00 price target on the stock in a research report on Thursday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of General Dynamics from a “hold” rating to a “buy” rating and raised their price target for the stock from $298.00 to $342.00 in a research note on Tuesday, July 8th. Nine research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, General Dynamics has a consensus rating of “Hold” and a consensus target price of $315.78.

General Dynamics Stock Up 1.9%

GD stock opened at $330.54 on Friday. The company has a fifty day moving average price of $318.73 and a 200 day moving average price of $291.70. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $330.63. The company has a market cap of $88.91 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 2.03 and a beta of 0.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The company had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. During the same quarter in the prior year, the firm earned $3.26 EPS. General Dynamics’s quarterly 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. Sell-side analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be issued a $1.50 dividend. The ex-dividend date is Friday, October 10th. This represents a $6.00 annualized dividend and a yield of 1.8%. General Dynamics’s dividend payout ratio (DPR) is presently 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.