Rep. Rick Larsen Unloads General Dynamics Co. (NYSE:GD) Stock

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 Price Performance

Shares of GD opened at $268.97 on Friday. 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 stock’s 50 day moving average is $274.45 and its two-hundred day moving average is $288.45. General Dynamics Co. has a twelve month low of $247.36 and a twelve month high of $316.90. The firm has a market capitalization of $73.96 billion, a PE ratio of 20.49, a P/E/G ratio of 1.38 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The business had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.04 earnings per share. Research analysts anticipate that General Dynamics Co. will post 13.81 earnings per share 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 repurchase 10,000,000 shares. This repurchase authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.11%. General Dynamics’s dividend payout ratio (DPR) is 43.26%.

Institutional Investors Weigh In On General Dynamics

Several hedge funds have recently made changes to their positions in GD. International Assets Investment Management LLC increased its stake in shares of General Dynamics by 40,389.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock valued at $416,876,000 after acquiring an additional 1,376,065 shares during the last quarter. State Street Corp increased its position in General Dynamics by 9.4% during the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock worth $3,307,612,000 after purchasing an additional 943,247 shares during the last quarter. Geode Capital Management LLC increased its position in General Dynamics by 13.0% during the third quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock worth $1,674,998,000 after purchasing an additional 638,342 shares during the last quarter. Two Sigma Advisers LP raised its stake in General Dynamics by 117.0% during the third quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company’s stock worth $259,469,000 after purchasing an additional 463,000 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in shares of General Dynamics by 2,189.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock valued at $108,572,000 after purchasing an additional 357,861 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Activity

In other news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the transaction, the vice president now directly owns 20,296 shares of the company’s stock, valued at $5,701,349.36. The trade was a 21.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Wolfe Research lowered General Dynamics from an “outperform” rating to a “peer perform” rating in a report on Wednesday, December 11th. Wells Fargo & Company cut their price target 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. The Goldman Sachs Group cut shares of General Dynamics from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $283.00 to $245.00 in a research note on Thursday, December 12th. Finally, Barclays reduced their price target on shares of General Dynamics from $330.00 to $305.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. 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’s stock. According to MarketBeat, General Dynamics has a consensus rating of “Hold” and a consensus target price 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.