Richwood Investment Advisors LLC Sells 38 Shares of General Dynamics Corporation $GD

Richwood Investment Advisors LLC cut its holdings in General Dynamics Corporation (NYSE:GD) by 1.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,948 shares of the aerospace company’s stock after selling 38 shares during the period. Richwood Investment Advisors LLC’s holdings in General Dynamics were worth $860,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Salvus Wealth Management LLC boosted its position in shares of General Dynamics by 2.9% during the second quarter. Salvus Wealth Management LLC now owns 1,274 shares of the aerospace company’s stock valued at $372,000 after buying an additional 36 shares during the period. Principal Securities Inc. increased its stake in 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 period. Sharpepoint LLC lifted its holdings in General Dynamics by 4.2% during the 1st quarter. Sharpepoint LLC now owns 917 shares of the aerospace company’s stock valued at $249,000 after buying an additional 37 shares in the last quarter. United Asset Strategies Inc. boosted its position in 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 buying an additional 37 shares during the period. Finally, Southland Equity Partners LLC grew its stake in 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 acquiring an additional 37 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Up 0.9%

Shares of General Dynamics stock opened at $346.60 on Tuesday. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $347.37. The firm’s 50 day moving average price is $322.58 and its 200-day moving average price is $295.09. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32. The company has a market cap of $93.23 billion, a P/E ratio of 23.26, a PEG ratio of 2.10 and a beta of 0.47.

General Dynamics (NYSE:GD) last announced its 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. The company had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. General Dynamics’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the firm earned $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. On average, sell-side analysts predict that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.7%. General Dynamics’s payout ratio is presently 40.27%.

Insider Activity

In related news, CEO Phebe N. Novakovic sold 129,090 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $313.57, for a total value of $40,478,751.30. Following the completion of the transaction, the chief executive officer directly owned 769,607 shares of the company’s stock, valued at $241,325,666.99. This trade represents a 14.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Lagrand Burns sold 43,860 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 39,875 shares in the company, valued at approximately $12,452,165. This represents a 52.38% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 275,020 shares of company stock valued at $86,414,503. 1.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GD has been the subject of a number of research reports. Wolfe Research upgraded General Dynamics from a “peer perform” rating to an “outperform” rating and set a $360.00 price target for the company in a report on Thursday, July 24th. Jefferies Financial Group set a $325.00 price target on General Dynamics and gave the company a “hold” rating in a research note on Wednesday, July 9th. Cowen reiterated a “buy” rating on shares of General Dynamics in a report on Wednesday, June 25th. Robert W. Baird raised their target price on shares of General Dynamics from $283.00 to $350.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Finally, TD Cowen upped their price target on shares of General Dynamics from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, June 25th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, General Dynamics has a consensus rating of “Hold” and a consensus price target of $315.78.

General Dynamics 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.