Forum Financial Management LP Cuts Stock Position in General Dynamics Corporation $GD

Forum Financial Management LP trimmed its holdings in General Dynamics Corporation (NYSE:GD) by 64.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,035 shares of the aerospace company’s stock after selling 1,848 shares during the period. Forum Financial Management LP’s holdings in General Dynamics were worth $355,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Brighton Jones LLC lifted its holdings in General Dynamics by 16.9% in the 4th quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company’s stock worth $760,000 after purchasing an additional 417 shares in the last quarter. Acadian Asset Management LLC grew its holdings in General Dynamics by 140.2% during the 1st quarter. Acadian Asset Management LLC now owns 3,445 shares of the aerospace company’s stock valued at $938,000 after buying an additional 2,011 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of General Dynamics during the second quarter valued at approximately $240,000. Flow Traders U.S. LLC purchased a new position in shares of General Dynamics in the second quarter worth $352,000. Finally, Jump Financial LLC bought a new position in shares of General Dynamics during the second quarter worth $1,284,000. Institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total value of $12,596,179.20. Following the completion of the sale, the executive vice president owned 38,975 shares in the company, valued at approximately $13,457,677.75. This trade represents a 48.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Malcolm sold 5,480 shares of General Dynamics stock in a transaction dated 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 transaction, the director directly owned 10,643 shares of the company’s stock, valued at approximately $3,884,695. This represents a 33.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 78,190 shares of company stock valued at $27,041,022. 1.40% of the stock is owned by corporate insiders.

Trending Headlines about General Dynamics

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

• Positive Sentiment: UBS initiated coverage on General Dynamics with a Hold rating, adding another Wall Street view on the stock as investors reassess valuation and defense spending trends. General Dynamics (GD) Gets a Hold from UBS
• Positive Sentiment: General Dynamics was upgraded to Zacks Rank #2 (Buy), reflecting improving earnings optimism and supporting the case for further upside. General Dynamics (GD) Upgraded to Buy: Here’s What You Should Know
• Neutral Sentiment: Investors are also focused on General Dynamics’ upcoming second-quarter earnings report, with analysts expecting single-digit bottom-line growth, which could set the tone for the next move in the shares. General Dynamics’ Quarterly Earnings Preview: What You Need to Know
• Neutral Sentiment: Recent market commentary highlighted that GD has been outperforming the broader market, but the move appears tied more to broader defensive sentiment and company-specific catalysts than to a major new fundamental development. General Dynamics (GD) Rises Higher Than Market: Key Facts
• Neutral Sentiment: General Dynamics was also cited in a broader defense-industry story about CSG recruiting talent from major contractors, including GD, but the item is not directly material to General Dynamics’ near-term fundamentals. CSG Enters the Next Phase of Global Growth: Strengthening Its Leadership Team with Top Defence Executives

Analysts Set New Price Targets

GD has been the subject of several research analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $385.00 target price on shares of General Dynamics in a research note on Thursday, April 30th. BNP Paribas Exane dropped their price objective on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a report on Thursday, April 30th. Wells Fargo & Company began coverage on General Dynamics in a research report on Wednesday, April 1st. They set an “overweight” rating and a $400.00 price objective for the company. The Goldman Sachs Group decreased their target price on General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a research report on Monday, May 4th. Finally, DA Davidson dropped their price target on General Dynamics from $384.00 to $375.00 in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $388.40.

General Dynamics Stock Up 1.8%

Shares of NYSE:GD opened at $354.29 on Wednesday. The company has a 50-day moving average price of $342.35 and a 200 day moving average price of $347.77. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. General Dynamics Corporation has a 12 month low of $289.40 and a 12 month high of $369.70. The company has a market cap of $95.81 billion, a price-to-earnings ratio of 22.30, a PEG ratio of 2.16 and a beta of 0.34.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.67 by $0.43. The business 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%.The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.66 earnings per share. As a group, equities research analysts predict that General Dynamics Corporation will post 16.63 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be issued a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, July 2nd. General Dynamics’s dividend payout ratio is presently 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.