Global Trust Asset Management LLC Reduces Position in General Dynamics Corporation $GD

Global Trust Asset Management LLC cut its position in General Dynamics Corporation (NYSE:GD) by 9.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,572 shares of the aerospace company’s stock after selling 159 shares during the period. Global Trust Asset Management LLC’s holdings in General Dynamics were worth $458,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of GD. Nuveen LLC purchased a new stake in shares of General Dynamics in the 1st quarter valued at approximately $272,464,000. Ameriprise Financial Inc. increased its position in shares of General Dynamics by 34.8% in the 1st quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company’s stock valued at $749,252,000 after purchasing an additional 709,782 shares during the last quarter. Deutsche Bank AG grew its position in shares of General Dynamics by 120.9% in the 1st quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company’s stock valued at $343,866,000 after buying an additional 690,349 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of General Dynamics by 4.9% in the 1st quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company’s stock valued at $1,499,819,000 after buying an additional 256,687 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of General Dynamics by 1,488.8% in the 1st quarter. SG Americas Securities LLC now owns 221,484 shares of the aerospace company’s stock valued at $60,372,000 after buying an additional 207,544 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GD shares. Cowen reaffirmed a “buy” rating on shares of General Dynamics in a research report on Wednesday, June 25th. JPMorgan Chase & Co. increased their target price on shares of General Dynamics from $284.00 to $345.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. UBS Group increased their target price on shares of General Dynamics from $309.00 to $333.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Jefferies Financial Group set a $325.00 target price on shares of General Dynamics and gave the company a “hold” rating in a research report on Wednesday, July 9th. Finally, 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. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $315.78.

General Dynamics Trading Up 1.9%

Shares of General Dynamics stock opened at $330.54 on Monday. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $330.63. 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. The company’s fifty day moving average is $318.73 and its two-hundred day moving average is $291.92.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $12.13 billion. During the same period last year, the firm posted $3.26 EPS. General Dynamics’s revenue for the quarter 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. General Dynamics’s payout ratio is presently 40.27%.

Insiders Place Their Bets

In other news, EVP Marguerite Amy Gilliland sold 33,740 shares of General Dynamics stock in a transaction dated Friday, August 8th. The shares were 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 $14,244,518.40. The trade was a 42.75% 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, CEO Phebe N. Novakovic sold 129,090 shares of General Dynamics stock in a transaction dated Monday, August 18th. The shares were 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. The trade was a 14.36% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 275,020 shares of company stock valued at $86,414,503. Corporate insiders own 1.50% of the company’s stock.

General Dynamics 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.