Rep. Jonathan L. Jackson Sells General Dynamics Co. (NYSE:GD) Shares

Posted by Dante Gardener on Jan 18th, 2025

Representative Jonathan L. Jackson (D-Illinois) recently sold shares of General Dynamics Co. (NYSE:GD). In a filing disclosed on January 16th, the Representative disclosed that they had sold between $15,001 and $50,000 in General Dynamics stock on December 16th. The trade occurred in the Representative’s “MORGAN STANLEY TRUST ACCOUNT” account.

Representative Jonathan L. Jackson also recently made the following trade(s):

Purchased $15,001 – $50,000 in shares of O’Reilly Automotive (NASDAQ:ORLY) on 12/16/2024.
Purchased $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 12/9/2024.
Sold $15,001 – $50,000 in shares of TIM (NYSE:TIMB) on 12/9/2024.
Purchased $15,001 – $50,000 in shares of Amazon.com (NASDAQ:AMZN) on 11/27/2024.
Sold $15,001 – $50,000 in shares of Applied Materials (NASDAQ:AMAT) on 11/27/2024.
Sold $15,001 – $50,000 in shares of Regeneron Pharmaceuticals (NASDAQ:REGN) on 11/13/2024.
Purchased $15,001 – $50,000 in shares of Church & Dwight (NYSE:CHD) on 11/13/2024.
Sold $1,001 – $15,000 in shares of Regeneron Pharmaceuticals (NASDAQ:REGN) on 11/1/2024.
Purchased $15,001 – $50,000 in shares of Salesforce (NYSE:CRM) on 10/28/2024.
Sold $15,001 – $50,000 in shares of ASML (NASDAQ:ASML) on 10/28/2024.

General Dynamics Price Performance

NYSE GD traded down $1.97 during trading on Friday, hitting $266.86. 1,543,957 shares of the company’s stock were exchanged, compared to its average volume of 1,419,689. 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 $73.38 billion, a PE ratio of 20.32, a P/E/G ratio of 1.38 and a beta of 0.61. General Dynamics Co. has a fifty-two week low of $247.36 and a fifty-two week high of $316.90. The stock’s 50 day moving average price is $273.71 and its two-hundred day moving average price is $288.32.

General Dynamics (NYSE:GD – Get Free Report) last issued 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 previous year, the firm posted $3.04 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. Research analysts expect that General Dynamics Co. will post 13.81 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s payout ratio is 43.26%.

General Dynamics declared that its Board of Directors has approved a stock buyback program on Wednesday, December 4th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On General Dynamics

Institutional investors have recently modified their holdings of the company. Fifth Third Wealth Advisors LLC raised its position in shares of General Dynamics by 67.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock worth $2,583,000 after purchasing an additional 3,448 shares during the period. Olstein Capital Management L.P. raised its position in General Dynamics by 36.4% in the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock valued at $4,533,000 after buying an additional 4,000 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in General Dynamics by 10.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock valued at $11,204,000 after buying an additional 3,363 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in General Dynamics by 69.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company’s stock valued at $69,032,000 after buying an additional 107,095 shares during the last quarter. Finally, Lummis Asset Management LP raised its position in General Dynamics by 32.6% in the 3rd quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock valued at $3,133,000 after buying an additional 2,551 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GD has been the subject of several recent research reports. Susquehanna lowered their price objective on General Dynamics from $330.00 to $315.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. The Goldman Sachs Group downgraded 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. Royal Bank of Canada downgraded General Dynamics from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $330.00 to $290.00 in a research note on Thursday, December 19th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $300.00 price objective (down previously from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. Finally, Vertical Research cut General Dynamics from a “buy” rating to a “hold” rating and reduced their target price for the company from $352.00 to $290.00 in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, General Dynamics presently has an average rating of “Hold” and an average target price of $304.53.

Check Out Our Latest Stock Report on GD

Insider Activity at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the sale, the vice president now directly owns 20,296 shares of the company’s stock, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by insiders.

About Representative Jackson

Jonathan Jackson (Democratic Party) is a member of the U.S. House, representing Illinois’ 1st Congressional District. Jackson assumed office on January 3, 2023. Jackson’s current term ends on January 3, 2025. Jackson (Democratic Party) is running for re-election to the U.S. House to represent Illinois’ 1st Congressional District. Jackson declared candidacy for the 2024 election. Jonathan Jackson was born in Chicago, Illinois. Jackson graduated from Whitney Young High School. He earned an M.B.A. from Northwestern University. Jackson’s career experience includes working as an investment analyst and an entrepreneur.

About General Dynamics

(Get Free Report)

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.