Conning Inc. Reduces Holdings in General Dynamics Corporation $GD

Conning Inc. lessened its holdings in General Dynamics Corporation (NYSE:GD) by 16.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 102,480 shares of the aerospace company’s stock after selling 20,776 shares during the period. General Dynamics accounts for approximately 1.2% of Conning Inc.’s portfolio, making the stock its 20th largest holding. Conning Inc.’s holdings in General Dynamics were worth $34,946,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. State Street Corp grew its holdings in General Dynamics by 1.1% during the 2nd quarter. State Street Corp now owns 11,140,437 shares of the aerospace company’s stock valued at $3,249,220,000 after buying an additional 119,664 shares during the last quarter. Ameriprise Financial Inc. increased its position in General Dynamics by 25.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,439,720 shares of the aerospace company’s stock worth $1,003,444,000 after purchasing an additional 691,340 shares in the last quarter. Invesco Ltd. lifted its holdings in General Dynamics by 0.4% in the 2nd quarter. Invesco Ltd. now owns 2,385,573 shares of the aerospace company’s stock valued at $695,776,000 after purchasing an additional 9,283 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of General Dynamics by 2.5% during the 2nd quarter. Franklin Resources Inc. now owns 1,712,190 shares of the aerospace company’s stock worth $499,377,000 after purchasing an additional 41,349 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in General Dynamics by 1.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,598,847 shares of the aerospace company’s stock worth $466,320,000 after acquiring an additional 16,459 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP David Paddock sold 20,360 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $334.92, for a total transaction of $6,818,971.20. Following the transaction, the vice president directly owned 36,644 shares of the company’s stock, valued at approximately $12,272,808.48. The trade was a 35.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.50% of the stock is owned by corporate insiders.

General Dynamics Stock Performance

Shares of GD stock opened at $365.76 on Thursday. The company’s fifty day simple moving average is $343.54 and its 200-day simple moving average is $329.58. The company has a current ratio of 1.40, a quick ratio of 0.87 and a debt-to-equity ratio of 0.29. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $367.65. The company has a market cap of $98.80 billion, a PE ratio of 23.70, a P/E/G ratio of 1.61 and a beta of 0.41.

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

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 16th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, January 16th. This represents a $6.00 annualized dividend and a yield of 1.6%. General Dynamics’s dividend payout ratio (DPR) is 38.89%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of General Dynamics in a report on Wednesday, October 8th. Melius Research upgraded shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 28th. UBS Group upped their price target on shares of General Dynamics from $369.00 to $381.00 and gave the stock a “neutral” rating in a research report on Monday, October 27th. Vertical Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $400.00 price target on the stock in a report on Monday, October 27th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $400.00 price objective on shares of General Dynamics in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus price target of $359.90.

General Dynamics Profile

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.