General Dynamics Corporation $GD Shares Sold by Conning Inc.

Conning Inc. decreased its holdings in shares of General Dynamics Corporation (NYSE:GD) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,205 shares of the aerospace company’s stock after selling 2,960 shares during the quarter. Conning Inc.’s holdings in General Dynamics were worth $34,910,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in General Dynamics in the 2nd quarter valued at $6,840,590,000. State Street Corp lifted its position in General Dynamics by 3.3% during the 2nd quarter. State Street Corp now owns 11,811,099 shares of the aerospace company’s stock worth $4,183,964,000 after buying an additional 374,682 shares in the last quarter. Bank of America Corp DE bought a new stake in General Dynamics during the 2nd quarter worth about $2,603,527,000. Corient Private Wealth LP boosted its stake in shares of General Dynamics by 806.3% during the 2nd quarter. Corient Private Wealth LP now owns 1,661,702 shares of the aerospace company’s stock worth $588,641,000 after buying an additional 1,478,353 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of General Dynamics by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,579,959 shares of the aerospace company’s stock worth $542,274,000 after buying an additional 28,249 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on GD. Robert W. Baird set a $430.00 price objective on General Dynamics in a report on Thursday, July 30th. Royal Bank Of Canada dropped their target price on General Dynamics from $410.00 to $360.00 and set a “sector perform” rating on the stock in a report on Thursday, October 15th. Bank of America upped their target price on General Dynamics from $400.00 to $415.00 and gave the stock a “buy” rating in a report on Monday, July 6th. TD Cowen reduced their price target on General Dynamics from $420.00 to $380.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Finally, Sanford C. Bernstein decreased their price target on General Dynamics from $407.00 to $365.00 and set a “market perform” rating for the company in a research note on Wednesday, October 14th. Eleven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, General Dynamics has an average rating of “Moderate Buy” and an average target price of $402.44.

General Dynamics Stock Performance

Shares of NYSE GD opened at $354.26 on Thursday. The company has a market capitalization of $95.85 billion, a P/E ratio of 21.61, a P/E/G ratio of 2.04 and a beta of 0.33. The stock has a 50 day moving average of $352.16 and a 200-day moving average of $354.92. General Dynamics Corporation has a 12 month low of $306.77 and a 12 month high of $400.00. The company has a current ratio of 1.44, a quick ratio of 0.96 and a debt-to-equity ratio of 0.23.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, July 29th. The aerospace company reported $4.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.28. The company had revenue of $14.09 billion during the quarter, compared to analysts’ expectations of $13.52 billion. General Dynamics had a net margin of 8.18% and a return on equity of 17.43%. General Dynamics’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.74 EPS. As a group, equities research analysts predict that General Dynamics Corporation will post 16.99 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 9th will be paid a $1.59 dividend. The ex-dividend date is Friday, October 9th. This represents a $6.36 dividend on an annualized basis and a yield of 1.8%. General Dynamics’s dividend payout ratio is 38.80%.

Insider Activity at General Dynamics

In other news, Director Robert K. Steel sold 7,440 shares of the business’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $346.05, for a total transaction of $2,574,612.00. Following the completion of the sale, the director owned 3,096 shares in the company, valued at $1,071,370.80. The trade was a 70.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Phebe N. Novakovic sold 51,568 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $382.58, for a total value of $19,728,885.44. Following the sale, 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 102,188 shares of company stock worth $38,627,265. Insiders own 1.40% of the company’s stock.

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.