13,963 General Dynamics Corporation $GD Shares Sold by Simplicity Wealth LLC

Simplicity Wealth LLC cut its stake in General Dynamics Corporation (NYSE:GD) by 77.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,967 shares of the aerospace company’s stock after selling 13,963 shares during the quarter. Simplicity Wealth LLC’s holdings in General Dynamics were worth $1,317,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of GD. BlackRock Inc. acquired a new position in General Dynamics during the second quarter worth $6,840,590,000. Bank of America Corp DE acquired a new position in General Dynamics in the second quarter valued at about $2,603,527,000. Corient Private Wealth LP bought a new stake in General Dynamics during the second quarter worth about $57,986,000. Bank of New York Mellon Corp bought a new stake in General Dynamics during the second quarter worth about $429,073,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of General Dynamics during the second quarter worth approximately $224,983,000. Institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert K. Steel sold 7,440 shares of the business’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $346.05, for a total transaction of $2,574,612.00. Following the completion of the transaction, the director owned 3,096 shares in the company, valued at approximately $1,071,370.80. The trade was a 70.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Phebe Novakovic sold 51,568 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $382.58, for a total transaction of $19,728,885.44. Following the transaction, the chief executive officer owned 766,457 shares of the company’s stock, valued at approximately $293,231,119.06. This represents a 6.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 102,188 shares of company stock valued at $38,627,265 in the last 90 days. 1.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GD has been the topic of a number of research analyst reports. TD Cowen decreased their price target on General Dynamics from $420.00 to $380.00 and set a “buy” rating on the stock in a research report on Friday, October 9th. Wells Fargo & Company raised their price objective on shares of General Dynamics from $400.00 to $440.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of General Dynamics in a research report on Monday, September 28th. Susquehanna upped their price target on General Dynamics from $420.00 to $455.00 and gave the company a “positive” rating in a research note on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $384.00 price objective on shares of General Dynamics in a report on Thursday, July 30th. Eleven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and a consensus target price of $402.44.

General Dynamics Stock Performance

NYSE:GD opened at $355.23 on Wednesday. General Dynamics Corporation has a 12-month low of $306.77 and a 12-month high of $400.00. The stock’s fifty day simple moving average is $352.95 and its 200-day simple moving average is $354.91.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, July 29th. The aerospace company reported $4.24 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.28. The company had revenue of $14.09 billion during the quarter, compared to the consensus estimate of $13.52 billion. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.74 EPS. On average, equities analysts anticipate that General Dynamics Corporation will post 16.99 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 9th will be given a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, October 9th.

General Dynamics News Summary

Here are the key news stories impacting General Dynamics this week:

• Positive Sentiment: General Dynamics received a $135.9 million U.S. Army contract modification, adding to its defense revenue pipeline. General Dynamics Awarded $135.9 Million Army Contract Modification
• Positive Sentiment: General Dynamics Mission Systems was awarded a U.S. Army contract for the RDEP-P 2.0 program, reinforcing demand for the company’s mission systems and defense technology offerings. General Dynamics Mission Systems Awarded U.S. Army Contract for RDEP-P 2.0
• Positive Sentiment: A Zacks analysis identified GD as a strong value stock, which could attract investors seeking defense exposure at a comparatively reasonable valuation. Here’s Why General Dynamics Is a Strong Value Stock
• Positive Sentiment: General Dynamics enters its October 30 earnings report with a record backlog of approximately $136.5 billion and a history of six consecutive earnings beats, providing visibility into future revenue. Will General Dynamics’ Massive $136 Billion Backlog Finally Trigger a Stock Breakout?

General Dynamics Company Profile

General Dynamics Corporation (NYSE: GD) is a global aerospace and defense company that develops, manufactures and supports products and services for government and commercial customers. Its operations serve the U.S. government, allied nations and other customers worldwide, with a significant focus on national security, military modernization and mission support.

The company operates through four primary business areas. Aerospace provides Gulfstream business jets and related aircraft services through Gulfstream Aerospace, as well as aircraft management, charter, maintenance and completions services through Jet Aviation.