Fortitude Family Office LLC Trims Holdings in General Dynamics Corporation $GD

Fortitude Family Office LLC trimmed its position in General Dynamics Corporation (NYSE:GD) by 20.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 225 shares of the aerospace company’s stock after selling 57 shares during the quarter. Fortitude Family Office LLC’s holdings in General Dynamics were worth $66,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Salvus Wealth Management LLC grew its holdings in General Dynamics by 2.9% during the 2nd quarter. Salvus Wealth Management LLC now owns 1,274 shares of the aerospace company’s stock valued at $372,000 after buying an additional 36 shares in the last quarter. Principal Securities Inc. grew its holdings in General Dynamics by 0.5% during the 1st quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company’s stock valued at $2,161,000 after buying an additional 37 shares in the last quarter. Sharpepoint LLC grew its holdings in General Dynamics by 4.2% during the 1st quarter. Sharpepoint LLC now owns 917 shares of the aerospace company’s stock valued at $249,000 after buying an additional 37 shares in the last quarter. United Asset Strategies Inc. grew its holdings in General Dynamics by 1.2% during the 1st quarter. United Asset Strategies Inc. now owns 3,140 shares of the aerospace company’s stock valued at $856,000 after buying an additional 37 shares in the last quarter. Finally, Southland Equity Partners LLC grew its holdings in General Dynamics by 3.2% during the 2nd quarter. Southland Equity Partners LLC now owns 1,185 shares of the aerospace company’s stock valued at $346,000 after buying an additional 37 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Phebe N. Novakovic sold 129,090 shares of General Dynamics stock in a transaction on Monday, August 18th. The stock was sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the completion of the sale, the chief executive officer directly owned 769,607 shares in the company, valued at approximately $241,325,666.99. This trade represents a 14.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of General Dynamics stock in a transaction on Friday, August 8th. The stock was sold at an average price of $315.20, for a total value of $10,634,848.00. Following the sale, the executive vice president owned 45,192 shares of the company’s stock, valued at approximately $14,244,518.40. This trade represents a 42.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 275,020 shares of company stock valued at $86,414,503 over the last 90 days. 1.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GD shares. JPMorgan Chase & Co. increased their price objective on shares of General Dynamics from $284.00 to $345.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Sanford C. Bernstein set a $314.00 target price on General Dynamics and gave the company a “market perform” rating in a research report on Monday, July 14th. Jefferies Financial Group set a $325.00 target price on General Dynamics and gave the company a “hold” rating in a research report on Wednesday, July 9th. Wolfe Research upgraded General Dynamics from a “peer perform” rating to an “outperform” rating and set a $360.00 target price for the company in a research report on Thursday, July 24th. Finally, TD Cowen increased their target price on General Dynamics from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, June 25th. Nine investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $315.78.

General Dynamics Stock Up 0.1%

Shares of GD opened at $322.85 on Wednesday. The company has a market cap of $86.84 billion, a PE ratio of 21.67, a P/E/G ratio of 1.98 and a beta of 0.50. The business has a fifty day moving average of $317.15 and a 200 day moving average of $290.44. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $330.18. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last issued 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. The company had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.General Dynamics’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the company earned $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. On average, sell-side analysts expect 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, November 14th. Investors of record on Friday, October 10th will be given a $1.50 dividend. The ex-dividend date is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. General Dynamics’s dividend payout ratio (DPR) is currently 40.27%.

General Dynamics Company Profile

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.