Conning Inc. Sells 4,137 Shares of General Dynamics Corporation $GD

Conning Inc. trimmed its position in General Dynamics Corporation (NYSE:GD) by 4.0% in the 4th quarter, HoldingsChannel reports. The fund owned 98,343 shares of the aerospace company’s stock after selling 4,137 shares during the quarter. Conning Inc.’s holdings in General Dynamics were worth $33,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in GD. Dunhill Financial LLC boosted its position in shares of General Dynamics by 620.0% in the third 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 stake in shares of General Dynamics in the third quarter worth $25,000. Dagco Inc. bought a new stake in shares of General Dynamics during the 4th quarter valued at $25,000. Burkett Financial Services LLC lifted its stake 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 valued at $26,000 after buying an additional 65 shares in the last quarter. Finally, Steph & Co. boosted its holdings in General Dynamics by 65.2% in the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling

In other General Dynamics news, EVP Marguerite Amy Gilliland sold 3,819 shares of General Dynamics stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $353.50, for a total transaction of $1,350,016.50. Following the completion of the transaction, the executive vice president directly owned 44,767 shares of the company’s stock, valued at $15,825,134.50. The trade was a 7.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Lagrand Burns sold 36,480 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the sale, the executive vice president directly owned 38,975 shares in the company, valued at approximately $13,457,677.75. This represents a 48.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 119,600 shares of company stock worth $41,650,580 over the last three months. 1.40% of the stock is owned by insiders.

Trending Headlines about General Dynamics

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

• Positive Sentiment: General Dynamics secured a U.S. Navy contract modification worth up to $2.31 billion for Virginia-class Block VI submarines, extending submarine-related work through 2035 and reinforcing the strength of its marine systems backlog. Article Title
• Positive Sentiment: GDIT announced a new partnership with NightDragon to accelerate U.S. government adoption of AI, cybersecurity and autonomy solutions, which could support future federal IT and secure-tech growth. Article Title

Wall Street Analysts Forecast Growth

GD has been the topic of a number of recent analyst reports. Wells Fargo & Company initiated coverage on General Dynamics in a report on Wednesday, April 1st. They set an “overweight” rating and a $400.00 price target on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and set a $385.00 target price on shares of General Dynamics in a research report on Thursday, April 30th. BNP Paribas Exane lowered their price target on General Dynamics from $430.00 to $390.00 and set an “outperform” rating on the stock in a report on Thursday, April 30th. Susquehanna restated a “positive” rating and issued a $420.00 price target on shares of General Dynamics in a research note on Thursday, January 15th. Finally, Wall Street Zen raised shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $388.20.

General Dynamics Stock Down 0.3%

Shares of NYSE:GD opened at $340.22 on Friday. The company has a market cap of $92.00 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 2.12 and a beta of 0.34. General Dynamics Corporation has a 12 month low of $268.10 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 company has a 50-day moving average price of $344.21 and a 200 day moving average price of $346.76.

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

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 10th were issued a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a 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 payout ratio is currently 40.03%.

About General Dynamics

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.