Torray Investment Partners LLC Decreases Holdings in General Dynamics Corporation $GD

Torray Investment Partners LLC trimmed its holdings in shares of General Dynamics Corporation (NYSE:GD) by 32.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,672 shares of the aerospace company’s stock after selling 18,365 shares during the period. General Dynamics accounts for about 1.6% of Torray Investment Partners LLC’s holdings, making the stock its 24th biggest holding. Torray Investment Partners LLC’s holdings in General Dynamics were worth $10,987,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in General Dynamics by 4.9% in the 1st quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company’s stock valued at $1,499,819,000 after buying an additional 256,687 shares during the last quarter. Ameriprise Financial Inc. boosted its position in General Dynamics by 34.8% in the 1st quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company’s stock valued at $749,252,000 after buying an additional 709,782 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in General Dynamics by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,582,388 shares of the aerospace company’s stock valued at $431,327,000 after buying an additional 5,313 shares during the last quarter. Boston Partners boosted its position in General Dynamics by 7.9% in the 1st quarter. Boston Partners now owns 1,296,497 shares of the aerospace company’s stock valued at $353,558,000 after buying an additional 94,537 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in General Dynamics by 120.9% in the 1st quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company’s stock valued at $343,866,000 after buying an additional 690,349 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other General Dynamics news, EVP Marguerite Amy Gilliland sold 33,740 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $315.20, for a total value of $10,634,848.00. Following the sale, the executive vice president owned 45,192 shares in the company, valued at approximately $14,244,518.40. This trade represents a 42.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Phebe N. Novakovic sold 129,090 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the completion of the sale, the chief executive officer owned 769,607 shares in the company, valued at $241,325,666.99. The trade was a 14.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 193,110 shares of company stock valued at $60,778,364 in the last ninety days. Insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of General Dynamics in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $400.00 target price on shares of General Dynamics in a research note on Wednesday, October 8th. Robert W. Baird set a $390.00 target price on shares of General Dynamics in a research note on Monday, October 27th. Wall Street Zen upgraded shares of General Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Finally, The Goldman Sachs Group upped their target price on shares of General Dynamics from $280.00 to $293.00 and gave the company a “sell” rating in a research note on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $350.89.

General Dynamics Stock Up 0.0%

NYSE:GD opened at $344.81 on Monday. The firm has a market capitalization of $93.14 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 2.05 and a beta of 0.47. The stock has a 50 day moving average of $332.50 and a 200-day moving average of $304.95. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $360.50. 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 (NYSE:GD) last released its quarterly earnings data on Friday, October 24th. The aerospace company reported $3.88 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.19. General Dynamics had a net margin of 8.18% and a return on equity of 18.27%. The business had revenue of $12.91 billion for the quarter, compared to analysts’ expectations of $12.49 billion. During the same quarter last year, the company earned $3.35 EPS. The company’s revenue for the quarter 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. Analysts predict that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be paid a $1.50 dividend. The ex-dividend date is Friday, October 10th. This represents a $6.00 annualized dividend and a dividend yield of 1.7%. General Dynamics’s dividend payout ratio (DPR) is presently 38.89%.

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.