Rep. Rick Larsen Sells General Dynamics Co. (NYSE:GD) Shares

Representative Rick Larsen (D-Washington) recently sold shares of General Dynamics Co. NYSE: GD. In a filing disclosed on January 14th, the Representative disclosed that they had sold between $1,001 and $15,000 in General Dynamics stock on January 7th.

Representative Rick Larsen also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Cintas NASDAQ: CTAS on 1/7/2025.
• Sold $1,001 - $15,000 in shares of Booz Allen Hamilton NYSE: BAH on 1/7/2025.
• Purchased $1,001 - $15,000 in shares of Alphabet NASDAQ: GOOGL on 1/7/2025.
• Sold $1,001 - $15,000 in shares of Comcast NASDAQ: CMCSA on 1/7/2025.
• Purchased $1,001 - $15,000 in shares of Broadridge Financial Solutions NYSE: BR on 1/7/2025.
• Purchased $1,001 - $15,000 in shares of Verisk Analytics NASDAQ: VRSK on 1/7/2025.
• Sold $1,001 - $15,000 in shares of UnitedHealth Group NYSE: UNH on 1/7/2025.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $265.89 on Thursday. The business has a 50-day moving average price of $275.30 and a two-hundred day moving average price of $288.61. General Dynamics Co. has a 1-year low of $247.36 and a 1-year high of $316.90. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The company has a market cap of $73.11 billion, a P/E ratio of 20.25, a PEG ratio of 1.62 and a beta of 0.61.

General Dynamics (NYSE:GD - Get Free Report) last released its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The business had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same period in the prior year, the business earned $3.04 EPS. The company's revenue for the quarter was up 10.4% on a year-over-year basis. As a group, analysts anticipate that General Dynamics Co. will post 13.84 EPS for the current year.

General Dynamics announced that its Board of Directors has approved a share buyback plan on Wednesday, December 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics's dividend payout ratio is presently 43.26%.

Institutional Trading of General Dynamics

Several institutional investors have recently made changes to their positions in GD. Meeder Asset Management Inc. increased its stake in General Dynamics by 385.2% in the 2nd quarter. Meeder Asset Management Inc. now owns 131 shares of the aerospace company's stock valued at $38,000 after buying an additional 104 shares during the last quarter. Parallel Advisors LLC increased its position in shares of General Dynamics by 0.8% during the second quarter. Parallel Advisors LLC now owns 4,968 shares of the aerospace company's stock valued at $1,441,000 after acquiring an additional 40 shares during the last quarter. Wealthspire Advisors LLC lifted its holdings in General Dynamics by 9.9% during the second quarter. Wealthspire Advisors LLC now owns 1,712 shares of the aerospace company's stock worth $497,000 after acquiring an additional 154 shares during the period. Rathbones Group PLC boosted its position in General Dynamics by 1.8% in the second quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company's stock worth $587,000 after purchasing an additional 35 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in General Dynamics by 4.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company's stock valued at $2,216,599,000 after purchasing an additional 293,316 shares during the period. Institutional investors own 86.14% of the company's stock.

Insider Activity

In other news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the transaction, the vice president now directly owns 20,296 shares of the company's stock, valued at $5,701,349.36. This represents a 21.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GD shares. Susquehanna dropped their target price on shares of General Dynamics from $330.00 to $315.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. Jefferies Financial Group reiterated a "hold" rating and set a $300.00 price objective (down previously from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Sanford C. Bernstein reduced their target price on General Dynamics from $343.00 to $331.00 and set a "market perform" rating for the company in a research note on Thursday, October 24th. Wolfe Research downgraded General Dynamics from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company reduced their price objective on General Dynamics from $295.00 to $279.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, General Dynamics presently has an average rating of "Hold" and a consensus price target of $304.53.

About Representative Larsen

Rick Larsen (Democratic Party) is a member of the U.S. House, representing Washington's 2nd Congressional District. He assumed office on January 3, 2001. His current term ends on January 3, 2025. Larsen (Democratic Party) is running for re-election to the U.S. House to represent Washington's 2nd Congressional District. He declared candidacy for the primary scheduled on August 6, 2024. Since at least 2011, Larsen has been assigned to the Committee on Armed Services and the Committee on Transportation and Infrastructure. Larsen's first position as an elected official was in 1998 as a member of the Snohomish County Council. Larsen earned his bachelor's degree from Pacific Lutheran University. After earning his master's degree in public affairs from the University of Minnesota, Larsen worked as the director of public affairs for the Washington State Dental Association and then as an economic development official with the Port of Everett. He went on to serve on the Snohomish County Council before seeking election to the U.S. House.

General Dynamics Company Profile

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.