Conning Inc. Sells 14,275 Shares of General Dynamics Corporation $GD

Conning Inc. decreased its position in shares of General Dynamics Corporation (NYSE:GD) by 10.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 123,256 shares of the aerospace company’s stock after selling 14,275 shares during the quarter. General Dynamics comprises approximately 1.2% of Conning Inc.’s investment portfolio, making the stock its 22nd largest position. Conning Inc.’s holdings in General Dynamics were worth $35,949,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Salvus Wealth Management LLC raised its holdings in General Dynamics by 2.9% during the 2nd quarter. Salvus Wealth Management LLC now owns 1,274 shares of the aerospace company’s stock worth $372,000 after purchasing an additional 36 shares during the last quarter. Principal Securities Inc. raised its holdings in General Dynamics by 0.5% during the 1st quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company’s stock worth $2,161,000 after purchasing an additional 37 shares during the last quarter. Sharpepoint LLC raised its holdings in General Dynamics by 4.2% during the 1st quarter. Sharpepoint LLC now owns 917 shares of the aerospace company’s stock worth $249,000 after purchasing an additional 37 shares during the last quarter. United Asset Strategies Inc. increased its stake 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 valued at $856,000 after acquiring an additional 37 shares in the last quarter. Finally, Southland Equity Partners LLC increased its stake 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 valued at $346,000 after acquiring an additional 37 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

Shares of GD stock opened at $333.03 on Friday. The firm has a market capitalization of $89.58 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 2.10 and a beta of 0.47. The firm has a fifty day simple moving average of $324.93 and a two-hundred day simple moving average of $296.76. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $347.37.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.27. The business had revenue of $13.04 billion during the quarter, compared to analyst estimates of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. General Dynamics’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wolfe Research upgraded shares of General Dynamics from a “peer perform” rating to an “outperform” rating and set a $360.00 price objective for the company in a research note on Thursday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of General Dynamics in a research note on Wednesday. Robert W. Baird lifted their price objective on shares of General Dynamics from $283.00 to $350.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. UBS Group lifted their price objective on shares of General Dynamics from $309.00 to $333.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $400.00 price objective on shares of General Dynamics in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $319.00.

Insider Activity

In other General Dynamics news, EVP Marguerite Amy Gilliland sold 33,740 shares of General Dynamics stock in a transaction on Friday, August 8th. The shares were sold at an average price of $315.20, for a total transaction of $10,634,848.00. Following the transaction, the executive vice president directly owned 45,192 shares of the company’s stock, valued at $14,244,518.40. The trade was a 42.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Lagrand Burns sold 43,860 shares of General Dynamics stock in a transaction on Monday, July 28th. The stock was sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the transaction, the executive vice president directly owned 39,875 shares in the company, valued at $12,452,165. This represents a 52.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 275,020 shares of company stock worth $86,414,503. Company insiders own 1.50% of the company’s stock.

About General Dynamics

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.