General Dynamics Corporation $GD Shares Sold by Royal Bank of Canada

Royal Bank of Canada cut its holdings in General Dynamics Corporation (NYSE:GD) by 20.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,764,692 shares of the aerospace company’s stock after selling 717,268 shares during the quarter. Royal Bank of Canada owned about 1.02% of General Dynamics worth $948,898,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Joule Financial LLC raised its stake in shares of General Dynamics by 4.3% during the fourth quarter. Joule Financial LLC now owns 705 shares of the aerospace company’s stock worth $237,000 after purchasing an additional 29 shares during the last quarter. Brown Miller Wealth Management LLC grew its position in General Dynamics by 0.3% in the 4th quarter. Brown Miller Wealth Management LLC now owns 8,889 shares of the aerospace company’s stock valued at $2,993,000 after buying an additional 29 shares during the last quarter. Steph & Co. grew its position in General Dynamics by 65.2% in the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock valued at $26,000 after buying an additional 30 shares during the last quarter. Klingman & Associates LLC increased its stake in General Dynamics by 3.3% in the 1st quarter. Klingman & Associates LLC now owns 949 shares of the aerospace company’s stock valued at $326,000 after buying an additional 30 shares during the period. Finally, Revolve Wealth Partners LLC raised its position in General Dynamics by 3.3% during the 4th quarter. Revolve Wealth Partners LLC now owns 978 shares of the aerospace company’s stock worth $329,000 after buying an additional 31 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Mark Malcolm sold 5,480 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the completion of the transaction, the director owned 10,643 shares of the company’s stock, valued at approximately $3,884,695. This trade represents a 33.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark Lagrand Burns sold 36,480 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total value of $12,596,179.20. Following the completion of the transaction, the executive vice president directly owned 38,975 shares of the company’s stock, valued at approximately $13,457,677.75. This trade represents a 48.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 78,190 shares of company stock valued at $27,041,022 in the last three months. 1.40% of the stock is currently owned by company insiders.

Trending Headlines about General Dynamics

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

• Positive Sentiment: Analysts expect General Dynamics to report approximately $3.97 in earnings per share and $13.54 billion in revenue for the second quarter. Expectations for a potential earnings beat are supporting investor sentiment ahead of the release. General Dynamics Q2 earnings expectations
• Positive Sentiment: The aerospace and defense sector continues to benefit from strong defense demand and improved production activity. General Dynamics is included among companies viewed as capable of meeting or exceeding second-quarter targets, which could reinforce confidence in its backlog and long-term growth prospects. Aerospace and defense earnings targets
• Neutral Sentiment: General Dynamics’ dividend remains an attraction for income-oriented investors, with a reported yield of roughly 1.63%. However, the immediate focus is likely to remain on quarterly earnings, guidance and cash flow rather than the dividend. General Dynamics dividend and earnings preview
• Negative Sentiment: Investors remain concerned about rising costs, supply-chain constraints and execution risks. Any margin pressure, production delays or cautious guidance could offset strong demand and trigger profit-taking after the stock’s recent advance. Aerospace and defense earnings risks

Wall Street Analyst Weigh In

Several research firms have recently commented on GD. BNP Paribas Exane reduced their target price on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a research note on Thursday, April 30th. DA Davidson cut their price target on shares of General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. UBS Group upgraded shares of General Dynamics from a “neutral” rating to a “buy” rating in a research report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft lowered their price objective on General Dynamics from $387.00 to $377.00 and set a “hold” rating on the stock in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded General Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $393.32.

General Dynamics Stock Performance

NYSE GD opened at $393.85 on Wednesday. The business has a 50 day moving average price of $358.18 and a 200 day moving average price of $352.28. The company has a market capitalization of $106.51 billion, a P/E ratio of 24.79, a PEG ratio of 2.34 and a beta of 0.34. General Dynamics Corporation has a 1-year low of $306.03 and a 1-year high of $395.43. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.43. The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.General Dynamics’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.66 earnings per share. Sell-side analysts expect that General Dynamics Corporation will post 16.66 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be issued a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Thursday, July 2nd. General Dynamics’s dividend payout ratio is 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.