Citigroup Inc. Sells 56,475 Shares of General Dynamics Corporation $GD

Citigroup Inc. cut its position in shares of General Dynamics Corporation (NYSE:GD) by 16.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 282,798 shares of the aerospace company’s stock after selling 56,475 shares during the period. Citigroup Inc.’s holdings in General Dynamics were worth $82,481,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nuveen LLC bought a new stake in General Dynamics in the 1st quarter valued at $272,464,000. Ameriprise Financial Inc. increased its stake in General Dynamics by 34.8% in the first quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company’s stock valued at $749,252,000 after acquiring an additional 709,782 shares during the period. Deutsche Bank AG increased its stake in General Dynamics by 120.9% in the first quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company’s stock valued at $343,866,000 after acquiring an additional 690,349 shares during the period. JPMorgan Chase & Co. raised its position in General Dynamics by 4.9% in the first quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company’s stock worth $1,499,819,000 after purchasing an additional 256,687 shares in the last quarter. Finally, Vident Advisory LLC lifted its stake in General Dynamics by 183.1% during the first quarter. Vident Advisory LLC now owns 261,484 shares of the aerospace company’s stock worth $71,276,000 after purchasing an additional 169,120 shares during the period. 86.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of General Dynamics in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on General Dynamics from $345.00 to $380.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Wolfe Research increased their target price on General Dynamics from $360.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Wall Street Zen raised General Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Finally, Sanford C. Bernstein increased their price objective on shares of General Dynamics from $335.00 to $388.00 and gave the stock a “market perform” rating in a report on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $353.85.

Insiders Place Their Bets

In other General Dynamics news, VP Christopher J. Brady sold 8,150 shares of the company’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $321.18, for a total transaction of $2,617,617.00. Following the completion of the sale, the vice president owned 22,818 shares in the company, valued at approximately $7,328,685.24. The trade was a 26.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark Malcolm sold 3,220 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $329.45, for a total value of $1,060,829.00. Following the completion of the transaction, the director directly owned 10,186 shares in the company, valued at approximately $3,355,777.70. This trade represents a 24.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,580 shares of company stock valued at $4,064,484 in the last ninety days. Company insiders own 1.50% of the company’s stock.

General Dynamics Price Performance

General Dynamics stock opened at $341.37 on Wednesday. The stock has a market cap of $92.21 billion, a price-to-earnings ratio of 22.12, a P/E/G ratio of 2.05 and a beta of 0.46. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $360.50. The company has a quick ratio of 0.87, a current ratio of 1.40 and a debt-to-equity ratio of 0.29. The business’s 50-day simple moving average is $337.69 and its 200 day simple moving average is $311.06.

General Dynamics (NYSE:GD) last released its earnings results on Friday, October 24th. The aerospace company reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.69 by $0.19. The company had revenue of $12.91 billion for the quarter, compared to the consensus estimate of $12.49 billion. General Dynamics had a net margin of 8.18% and a return on equity of 18.27%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.35 EPS. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. As a group, research analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current year.

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.