Summit Wealth Group LLC Co. Reduces Stake in General Dynamics Corporation $GD

Summit Wealth Group LLC Co. reduced its stake in General Dynamics Corporation (NYSE:GD) by 65.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,736 shares of the aerospace company’s stock after selling 3,317 shares during the period. Summit Wealth Group LLC Co.’s holdings in General Dynamics were worth $584,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Dunhill Financial LLC grew its holdings in shares of General Dynamics by 620.0% during the 3rd quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 62 shares during the period. KERR FINANCIAL PLANNING Corp purchased a new position in shares of General Dynamics during the 3rd quarter worth $25,000. Dagco Inc. purchased a new position in shares of General Dynamics during the 4th quarter worth $25,000. Burkett Financial Services LLC grew its holdings in shares of General Dynamics by 650.0% during the 3rd quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 65 shares during the period. Finally, Steph & Co. grew its holdings in shares of General Dynamics by 65.2% during the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 30 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting General Dynamics

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

• Positive Sentiment: General Dynamics Information Technology (GDIT) announced a new partnership with NightDragon to accelerate U.S. government adoption of emerging AI and cybersecurity technologies, which could support future federal contract growth and reinforce the company’s positioning in secure-tech markets. Article Title
• Neutral Sentiment: Two separate filings showed EVP Mark Lagrand Burns sold a combined 72,710 shares on May 11 and May 12 at prices around $343 to $345 per share. Insider selling can weigh on sentiment, but the trades do not necessarily indicate a change in the company’s fundamentals. Article Title
• Negative Sentiment: Market commentary around the GDIT-NightDragon deal noted that General Dynamics shares fell after the announcement, suggesting investors may be treating the news as incremental rather than a near-term catalyst. Article Title

General Dynamics Price Performance

GD opened at $341.31 on Thursday. The stock’s 50-day moving average price is $344.70 and its 200 day moving average price is $346.83. General Dynamics Corporation has a 12-month low of $267.39 and a 12-month high of $369.70. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The firm has a market cap of $92.30 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 2.15 and a beta of 0.34.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The firm had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. During the same quarter in the prior year, the company earned $3.66 EPS. General Dynamics’s revenue was up 10.3% on a year-over-year basis. As a group, sell-side analysts expect that General Dynamics Corporation will post 16.62 earnings per share for the current year.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 10th were paid a $1.59 dividend. This represents a $6.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, April 10th. This is a boost from General Dynamics’s previous quarterly dividend of $1.50. General Dynamics’s dividend payout ratio (DPR) is 40.03%.

Insider Buying and Selling

In related news, CEO Phebe N. Novakovic sold 32,918 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $354.09, for a total transaction of $11,655,934.62. Following the sale, the chief executive officer directly owned 766,457 shares in the company, valued at approximately $271,394,759.13. This represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Lagrand Burns sold 36,480 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the sale, the executive vice president owned 38,975 shares in the company, valued at $13,457,677.75. The trade was a 48.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 123,970 shares of company stock valued at $43,174,793. Corporate insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. DA Davidson lowered their price target on General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Morgan Stanley increased their price target on General Dynamics from $410.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Argus increased their price target on General Dynamics from $380.00 to $395.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. JPMorgan Chase & Co. increased their price target on General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on General Dynamics from $387.00 to $377.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and a consensus target price of $388.20.

General Dynamics Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.