Conning Inc. Cuts Stake in General Dynamics Corporation $GD

Conning Inc. reduced its stake in General Dynamics Corporation (NYSE:GD) by 10.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 123,256 shares of the aerospace company’s stock after selling 14,275 shares during the period. General Dynamics comprises 1.2% of Conning Inc.’s investment portfolio, making the stock its 22nd biggest holding. Conning Inc.’s holdings in General Dynamics were worth $35,949,000 as of its most recent SEC filing.

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

General Dynamics Trading Down 2.8%

Shares of GD opened at $333.03 on Friday. The business’s 50-day moving average price is $324.93 and its 200-day moving average price is $296.76. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $347.37. The stock has a market cap of $89.58 billion, a PE ratio of 22.35, a P/E/G ratio of 2.10 and a beta of 0.47. 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 announced its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $12.13 billion. During the same period in the prior year, the business posted $3.26 earnings per share. The company’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. On average, equities analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, October 10th. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. General Dynamics’s dividend payout ratio is currently 40.27%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GD shares. Wall Street Zen raised shares of General Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. UBS Group boosted their price objective on General Dynamics from $309.00 to $333.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Citigroup boosted their price objective on General Dynamics from $348.00 to $368.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Wolfe Research upgraded General Dynamics from a “peer perform” rating to an “outperform” rating and set a $360.00 price objective on the stock in a research note on Thursday, July 24th. Finally, Seaport Res Ptn upgraded General Dynamics from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, General Dynamics currently has a consensus rating of “Hold” and an average target price of $319.00.

Insider Activity

In related news, VP William A. Moss sold 17,700 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president directly owned 16,627 shares in the company, valued at approximately $5,260,782.80. This represents a 51.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president owned 45,192 shares in the company, 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. Over the last 90 days, insiders sold 275,020 shares of company stock valued at $86,414,503. 1.50% of the stock is currently owned by insiders.

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.