SageView Advisory Group LLC Sells 151 Shares of General Dynamics Co. (NYSE:GD)

Posted by Defense World Staff on Jul 24th, 2023

SageView Advisory Group LLC trimmed its holdings in shares of General Dynamics Co. (NYSE:GD – Free Report) by 12.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,035 shares of the aerospace company’s stock after selling 151 shares during the quarter. SageView Advisory Group LLC’s holdings in General Dynamics were worth $236,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Edmp Inc. raised its position in General Dynamics by 21,600.0% in the 4th quarter. Edmp Inc. now owns 2,642,620 shares of the aerospace company’s stock valued at $10,651,000 after buying an additional 2,630,442 shares during the last quarter. Norges Bank bought a new position in shares of General Dynamics during the 4th quarter worth approximately $607,393,000. Moneta Group Investment Advisors LLC raised its holdings in shares of General Dynamics by 91,832.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,386,337 shares of the aerospace company’s stock valued at $343,964,000 after purchasing an additional 1,384,829 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in General Dynamics by 44.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,073,407 shares of the aerospace company’s stock worth $258,885,000 after purchasing an additional 329,299 shares during the last quarter. Finally, Morgan Stanley grew its position in General Dynamics by 12.1% in the fourth quarter. Morgan Stanley now owns 2,622,031 shares of the aerospace company’s stock valued at $650,552,000 after purchasing an additional 282,436 shares in the last quarter. Institutional investors own 86.02% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mark Malcolm acquired 4,700 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was acquired at an average price of $214.47 per share, with a total value of $1,008,009.00. Following the completion of the transaction, the director now directly owns 4,700 shares of the company’s stock, valued at approximately $1,008,009. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.50% of the company’s stock.

General Dynamics Stock Performance

GD opened at $215.47 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.39 and a quick ratio of 0.94. The company has a market capitalization of $59.11 billion, a PE ratio of 17.62, a price-to-earnings-growth ratio of 1.90 and a beta of 0.84. The business has a fifty day simple moving average of $212.41 and a 200 day simple moving average of $222.30. General Dynamics Co. has a 1 year low of $202.35 and a 1 year high of $256.86.

General Dynamics (NYSE:GD – Get Free Report) last released its quarterly earnings results on Wednesday, April 26th. The aerospace company reported $2.64 EPS for the quarter, beating the consensus estimate of $2.56 by $0.08. The business had revenue of $9.88 billion for the quarter, compared to the consensus estimate of $9.30 billion. General Dynamics had a net margin of 8.50% and a return on equity of 18.66%. General Dynamics’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.61 earnings per share. Research analysts expect that General Dynamics Co. will post 12.64 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Friday, July 7th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Thursday, July 6th. General Dynamics’s dividend payout ratio is currently 43.17%.

Analyst Ratings Changes

GD has been the subject of a number of recent research reports. Credit Suisse Group reduced their price objective on shares of General Dynamics from $239.00 to $220.00 in a research note on Thursday, April 27th. Robert W. Baird reduced their price target on General Dynamics from $268.00 to $242.00 in a research report on Thursday, April 27th. StockNews.com started coverage on General Dynamics in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Sanford C. Bernstein cut their price objective on General Dynamics from $251.00 to $245.00 in a report on Thursday, May 4th. Finally, William Blair initiated coverage on shares of General Dynamics in a report on Thursday, March 30th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $261.69.

About General Dynamics

(Free Report)

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.